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VEB Dismisses Chief Economist After Warning Russia Falling Behind

8/18/2026

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Summary

Story summary

VEB dismissed chief economist Andrei Klepach after he warned at a forum that damage, rising inequality and a crisis were leaving Russia behind the West, China and Ukraine.
Klepach blamed Ukrainian strikes on energy and logistics and GDP growth than the United States for the slowdown.
In July, Russia’s central bank warned growth could be zero this year as President Vladimir Putin claimed the economy remains stable.

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Story summary

VEB dismissed chief economist Andrei Klepach after he warned at a forum that damage, rising inequality and a crisis were leaving Russia behind the West, China and Ukraine.
Klepach blamed Ukrainian strikes on energy and logistics and GDP growth than the United States for the slowdown.
In July, Russia’s central bank warned growth could be zero this year as President Vladimir Putin claimed the economy remains stable.