Part 4/11:
As the central bank's key interest rate approached a staggering 21%, concerns arose regarding deteriorating conditions in the non-defense sectors of the Russian economy. A report suggested that the skyrocketing interest rates halted growth in investment and household consumption, posing significant challenges to industrial development. Notably, corporate bankruptcies surged by 20% in the previous year, signaling troubles that are less visible beneath the headline growth figures.