Energy

Russia warns its economy is showing signs of overheating

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Russian President Vladimir Putin listens to Construction, Housing and Utilities Minister Vladimir Yakushev during a meeting in Moscow, Russia February 10, 2020.

Aleksey Nikolskyi | Sputnik | Kremlin via Reuters

There are signs that Russia’s economy is overheating with annual inflation currently at 5.9%, Anton Siluanov, the country’s finance minister, said Thursday.

“If we continue with increased spending, what will we get? Overheating. Elements of overheating are already visible — high inflation,” Siluanov said at the St. Petersburg International Economic Forum, according to a Reuters translation.

Consumer price inflation accelerated again in May, rising from 5.5% in April. Earlier this…



Source cnbc.com

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