Is a Recession in Russia Inevitable?

The transcript discusses Russia's anticipated recession, with the government predicting a 0.8% economic contraction. It highlights the expected 3% drop in household incomes and compares current economic conditions to the early years of Putin's presidency. The ruble's devaluation is noted, with no expected intervention from the government, despite inflationary pressures. The situation is contrasted with past economic growth and the impact on Russian citizens' purchasing power.

What is the current exchange rate of the ruble compared to the dollar?

What are the implications of the ruble's devaluation for the Russian government?