World enters new wave of pandemic amid high inflationary pressures — Putin

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Vladimir Putin noted that the extremely soft budgetary policies of most developed countries played a significant factor in accelerating inflation, and maybe even a key role

MOSCOW, November 30. /TASS/. The world economy is entering the next wave of the pandemic amid high inflationary pressures, one of the reasons for them was broken supply chains when demand recovered, Russian President Vladimir Putin said at the plenary session of the 13th VTB Capital Investment Forum “Russia Calling!”.

“With regard to the economic agenda itself, high inflationary pressure is a distinctive characteristic of the current situation – with it the world is entering the next wave of the pandemic,” he said.

According to him, growth in prices was caused by a variety of reasons. “In particular, consumer demand for services in tourism, transport, and public catering has recently sagged and shifted towards goods. At the same time, due to closed borders and imposed restrictions, many supply chains have been broken, a shortage of certain goods started to become noticeable, which pushed prices up,” Putin said.

Putin noted that the extremely soft budgetary policies of most developed countries played a significant factor in accelerating inflation, and maybe even a key role.

“Of course, the large-scale influx of funds into the economy allowed supporting individuals and businesses in difficult times. And we are doing this in Russia too. But at the same time, this global movement, so to speak, has led to a sharp jump in prices on global markets, including commodities,” Putin said.

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