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Russian chief economist Andrei Klepach fired after critique of war economy

The state-controlled development bank VEB offered no explanation, despite Klepach warning that social strain would worsen as costs rose during the conflict.

Reported · Written up by our desk · Europe

Andrei Klepach, the chief economist at Russia’s state-controlled development bank VEB, was fired days after Russian media circulated remarks he made in May, according to the Guardian Business.

In the speech, Klepach said Russia was falling behind the US and China economically, and that the war pressures would inevitably contribute to a social crisis. He also argued that hopes for an imminent Ukrainian economic collapse were misplaced and that Russia would not win a prolonged war of attrition.

Klepach warned that Moscow’s costs were growing and that it had an “illusion” that Ukraine would collapse quickly, while noting that the situation had not played out as expected.

The Guardian Business reported that VEB did not provide a reason for the dismissal, while other Russian outlets cited sources linking the firing to his personal assessments and to instructions allegedly tied to the Kremlin.

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