For about a year, president Vladimir Putin has been insistently asking his economics team – the central bank, minister of economic trade and development German Gref and finance minister Alexei Kudrin – to do something about Russia’s high inflation.
However, although the government has successfully reduced inflation from the 86% it was at when Putin was running for president in 1999, it has been unable to get it into single digits. The government tried to reduce inflation from 11% to 8.5%
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