The situation of the Russian economy, less and less favorable, has forced Kremlin to Reactivate the Special Economic Commission which was created in times of COVID-19 to implement support measures, as stated The Moscow Times in an article in which they cite the Russian Minister, Alexander Novak.
Some of the main tasks that the commission will have, that operated again in December 2024, will be the state assistance to metallurgical plants; Which are braking by limited access to foreign markets, support for the timber industry, whose exports have experienced a fall of one third; or aid to the agricultural sector, which suffers from bad harvests and drought.
The initiative has taken weight after the Putin country has had to deal with western sanctions and excessive inflation caused by war expense. Some of the consequences that this bad situation could have could be the “decrease in investment activity“Or even the closure of several companies, according to Novak. In fact, coal companies face losses of up to 845 million dollars due to the fall of exports, which has led to the closure of mines.
According to The Moscow Times, Consumer prices increased 9.5% in December 2024 and since then They have risen to 9.9%. Meanwhile, the Central Bank of Russia estimates that inflation falls to 5.2% and 8.6% at the end of 2025.
