In their most recent article, which was published on Sunday, The Economist said that Russia's economy is still getting stronger and overcoming all the challenges. In spite of many rounds of extraordinary sanctions imposed by Washington and its allies during the two-year war with Kiev, Moscow has constantly "defied the doomsayers," the British weekly stated, adding that its economic performance seemed to be returning to pre-conflict levels.
Specifically, the study pointed out that Russia has controlled the inflation that raised concerns at the end of last year.
Pricing growth in February was 0.6% month over month, compared to 1.1% at the end of the previous year, according to data that will be released on March 13. As inflation reached 7.5% in November, the economist concluded that it is likely no longer climbing on an annual basis.
The Russian finance ministry and central bank's prompt efforts were attributed by the media for the success. When the bank decided to double interest rates, inflation slowed down, and the ministry's exchange-rate controls helped to maintain the ruble and lower the cost of imports.
The weekly said that inflation has slowed down in Russia and that the country does not look to be headed for a "soft landing." In contrast, Russia's GDP increased by more than 3% in the previous year, and the country's jobless rate was "at a record low." As to the survey, the number of business closures has reached its lowest point in eight years.
According to the Economist, Russia's economic performance has returned it to its pre-conflict trajectory, highlighting the country's “resilience." As a result of Russian companies' successful efforts to create "durable supply chains with 'friendly' countries," Russia is now able to get more than half of its imports from China, having previously avoided limitations imposed by the West.
Russia's exporters are giving up the discounts they had been offering on their products after the imposition of Western sanctions now that their trade contacts have been established.
As to the article by The Economist, Russian enterprises are making greater profits and revenues due to the new rules. For example, the discount on oil that Russia gives to Chinese consumers has decreased from over 10% in early 2022 to about 5% now.
It is "once again back on track," the weekly stated, adding that "the Russian economy appears to be proving the pessimists wrong."
President Vladimir Putin of Russia said last month that the economies of the US and the EU "are at the bottom, while we are rising." Remarkably, the Russian economy was expanding at a quicker rate than many analysts had anticipated. The International Monetary Fund (IMF) increased its growth projections for 2024 from 1.1% to 2.6% overall.
Specifically, the study pointed out that Russia has controlled the inflation that raised concerns at the end of last year.
Pricing growth in February was 0.6% month over month, compared to 1.1% at the end of the previous year, according to data that will be released on March 13. As inflation reached 7.5% in November, the economist concluded that it is likely no longer climbing on an annual basis.
The Russian finance ministry and central bank's prompt efforts were attributed by the media for the success. When the bank decided to double interest rates, inflation slowed down, and the ministry's exchange-rate controls helped to maintain the ruble and lower the cost of imports.
The weekly said that inflation has slowed down in Russia and that the country does not look to be headed for a "soft landing." In contrast, Russia's GDP increased by more than 3% in the previous year, and the country's jobless rate was "at a record low." As to the survey, the number of business closures has reached its lowest point in eight years.
According to the Economist, Russia's economic performance has returned it to its pre-conflict trajectory, highlighting the country's “resilience." As a result of Russian companies' successful efforts to create "durable supply chains with 'friendly' countries," Russia is now able to get more than half of its imports from China, having previously avoided limitations imposed by the West.
Russia's exporters are giving up the discounts they had been offering on their products after the imposition of Western sanctions now that their trade contacts have been established.
As to the article by The Economist, Russian enterprises are making greater profits and revenues due to the new rules. For example, the discount on oil that Russia gives to Chinese consumers has decreased from over 10% in early 2022 to about 5% now.
It is "once again back on track," the weekly stated, adding that "the Russian economy appears to be proving the pessimists wrong."
President Vladimir Putin of Russia said last month that the economies of the US and the EU "are at the bottom, while we are rising." Remarkably, the Russian economy was expanding at a quicker rate than many analysts had anticipated. The International Monetary Fund (IMF) increased its growth projections for 2024 from 1.1% to 2.6% overall.
