Top Russian Economist Ousted After Warning of War's Economic Harm
Andrey Klepach, the chief economist at Russia’s state development bank VEB, has been removed from his position. This dismissal follows the public release of a speech he delivered in May, where he warned that Russia's economy was being significantly harmed by the ongoing conflict in Ukraine. Klepach stated that Russia was falling behind in technological and economic competition globally, even compared to Ukraine, which receives substantial Western financial support. He predicted that the economic challenges would lead to a social crisis and criticized the deteriorating quality of governance in Russia, citing poorly justified decisions with long-term strategic consequences. The Russian central bank had also suggested in June that the economy might not grow at all this year, contrasting with President Vladimir Putin's assurances of economic stability. Klepach's critique, published on the website of the Nikitsky Club, represented a rare public dissent from a senior figure within a state institution regarding t... 
