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Russia’s economy minister says jobs in Russia will be cut and investment will be reduced following sanctions imposed by Western countries.
Maksim Reshetnikov said at a press conference that unemployment is still low, but the figures are expected to change.
“A prolonged demand crisis could lead to a reduction in employment. “We see that there are dangers here,” he said.
Russia’s economy has been hit by sanctions imposed by Western countries since February, when the war in Ukraine began.
The initial shock forced the Russian stock market to close temporarily. However, the ruble has returned to pre-war levels thanks to the intervention of the Central Bank of Russia.
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