Deripaska warned of a new bouquet of problems in Russia until the end of

2023will face economic and social problems before the end of next year,he thinksOleg DeripaskaOleg DeripaskaOleg Deripaska

Against the backdrop of a global recession, the Russian economy needs timely solutions to prevent problems, including with employment and incomes of residents, businessman Oleg Deripaska believes.

“Until we muster up courage (and, in principle, we have nothing to lose for a long time), we will not reduce the rate to 5%, we will not carry out a quantitative easing program to secure mortgages and investments for 20–25 trillion rubles, we will not be able to launch economic growth,” he wrote on his TELEGRAM channel.

Businesses and ordinary Russians will not want to take "exorbitantly expensive" loans, Deripaska added. According to the businessman, the “prohibitively high” exchange rate of the ruble makes any production uncompetitive, including agricultural products, and therefore the interest of foreign investors “even from the most friendly countries” is falling.

If nothing is done about the current economic situation, the ideas of state investment in import substitution, the creation of alternative EXPORT and import channels, the development of logistics and processing will not be realized, the businessman notes.

“There will be no economic recovery in a country with such a high cost of debt (let's not forget about the serious burden on business and the economy in the form of an obsolete judicial and law enforcement system). After all, we will fly in full by the end of next year to a new, so to speak, bouquet of economic and social problems, ”summed up Deripaska.

Deripaska gave the "current madness" in the world three more years Politics

In July, the businessman wrote that the global economic system was "turning into a mess", the causes of which were the arms race, the bureaucratization of the European Union and the construction of state capitalism in RUSSIA.

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According to Deripaska, the deterioration of the economic situation will occur due to economically unjustified breaks in ties between the countries of Eurasia, attempts to "change the regime" in Russia and stop economic growth in CHINA, and also due to "turning the DOLLAR financial system into a deadly weapon through sophisticated sanctions" .

As an indicator of the dire situation, the businessman called the "already over the top" price of US debt securities and warned that in the near future "we will see it above 5-8% for various maturities."

“And this will be a clear signal that the good old economic system no longer exists. And we have no other choice but to return to the economic principles on which Russia developed the fastest in its modern history, in 2002-2007,” Deripaska wrote.

In early October, the billionaire suggested that in 2.5-3 years there would be a stage when politicians would realize that everyone should comply with international law, and that international judicial institutions should be depoliticized. Now in the world there is an "outrageous level of lies and provocations," he said.

In mid-October, Ukraine imposed sanctions against Deripaska. In 2018, he came under US sanctions, even during the presidency of Donald Trump. The businessman tried to challenge the imposed restrictions in 2019, but last summer the COURT refused to cancel them, and last spring the billionaire’s appeal was rejected.

At the end of September, US prosecutors charged Deripaska with sanctions evasion. In particular, it was about supporting a transaction for the sale of a music studio in California. After that, the US Supreme Court rejected the appeal of the Russian businessman.

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