Results of the year: End of stability
A year ago, I called the outgoing year "The last year of Putin's stability." I was mistaken. Stability is over. Even official inflation exceeded the planned level of one and a half times, the influx of private capital, having reached unprecedented intensity, was replaced by the maximum over the years of Putin’s reign, the business lost its usual opportunity to cover the losses from external loans, and the liquidity of the banking system has more than doubled - to an unprecedentedly low level.