Russian bank fires economist who said Moscow losing 'war of attrition' with West
Andrei Klepach, one of Russia's most prominent macroeconomists, predicted a social crisis and said costs were "mounting" over the Ukraine war.
Russian state development bank VEB has terminated the employment of its chief economist, Andrei Klepach, following remarks he made at a financial forum in May. Klepach predicted a social crisis and warned that Russia was losing a "war of attrition" with the West. He argued that Russia was falling behind economically, technologically, and in competition with both China and the United States, as well as Ukraine, which receives financial support from the West.
Klepach's dismissal marks a rare instance of a senior state institution publicly criticizing the costs of continuing the war in Ukraine.
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