Both crises have similar characteristics.
The crisis in Russia related to the war in Ukraine will be similar to the crisis of the 90s. This is what Russian analysts say, in particular the founder and CEO of Infoline Ivan Fedyakov.
“We have faced such a double blow to the consumer market. Such a double blow has not actually existed for 30 years. The last was in 1992,” he said in comments to the Russian media.
According to him, first, the devaluation of the ruble. Secondly, the rupture of production chains, which was not the case in previous crises, except for the crisis in 1992. Then the devaluation coincided with the collapse of the USSR and the key problem was the disruption of production chains.
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Earlier it was reported that Russian citizens withdrew from banks in February the largest amount of money in 14 years. The outflow of money from banks was stopped by the Central Bank of the Russian Federation. The amount of money that the population keeps in Russian banks decreased in February by 1.2 trillion rubles in absolute terms, in relative terms – they decreased by 3.5%.
