Economy 230: Key Rate and APC

Traditionally, agriculture in Russia is one of the most important sectors of the economy. It makes a significant contribution to the country’s GDP. According to Rosstat, this contribution ranges from 3-5%. This is comparable to the construction industry. But even more important is the fact that agriculture ensures food security, rural employment and the development of export potential. However, today the Ministry of Economic Development notes a cooling of the economy. Of course, sanctions played a role. They restrict access to technology, investment and markets. But there are also domestic economic factors, such as inflation and high interest rates set by the central bank to combat it. The latter can deter lending and investment. Especially for agriculture.

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