Russia’s Growing Economy of War Paves the Way for Election


Russia’s Growing Economy of War Paves the Way for Election

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union. Russia’s economy is currently experiencing growth, despite being two years into the Kremlin’s invasion of Ukraine. Wages are increasing, unemployment is low, and the ruble has stabilized. The country’s lowest earners are seeing the most significant increase in salaries, with a growth rate of about 20% over the last three quarters, according to official data. Vladimir Putin is likely to be re-elected this week, with the economy performing well. However, Ukraine is attempting to disrupt Putin’s success, launching drone attacks on Russian oil refineries. Putin has accused Ukraine of interfering in Russia’s elections with these attacks.

In the Netherlands, Geert Wilders, the leader of the Dutch Right party, has dropped his bid to become the country’s next prime minister. Wilders won a shock victory in November but has been unable to form a coalition government. He will not be the next prime minister as coalition partners have forced him to step aside in order to advance talks to form a right-wing cabinet.

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