Russian Minister calls for divine intervention amid drought

The portal reported that the drought has caused the pace of winter grain sowing to fall to its lowest level in 11 years. In the European part of Russia, rainfall over the last 30 days was only 20 percent of the average. The situation could be particularly severe in areas where the growing season ends early and the first frosts start to appear.

The minister confirmed in an interview with Interfax that Russia has been hit by numerous natural phenomena this year. "First, we experienced recurring frosts; then in April, the drought started. Siberia is flooded. There's also a locust infestation, and recently, we've had sandstorms in the south," she listed.

According to estimates from the Russian Grain Union, farmers will harvest 120-125 million tons of grain this year instead of the anticipated 145 million.

According to the Financial Times, the Russian economy is experiencing a surge in consumption and real wages. Russians have more disposable income and are eager to spend it, fueling a consumption boom. This phenomenon results from increased government spending and labor market shortages.

Data from the Russian statistical office Rosstat indicates that real wages in Russia have increased by nearly 14 percent, and the consumption of goods and services by about 25 percent. This is a significant change compared to the beginning of the invasion of Ukraine in 2022, when many entrepreneurs feared an economic collapse.

Rising wages are leading to increased consumer spending. Russians are keen to spend money on domestic tourism, restaurants, and durable goods.

The boom is also evident in the real estate sector. Sergei Skatov, an expert on the Russian real estate market, notes that developers can sell nothing for the whole year and still be profitable. They have already sold everything they can build over the next three years.