Despite increasing sanctions pressure from Western countries, the Russian economy is in a stronger position than expected. The rate of decline in the country’s gross domestic product (GDP) at the end of last year was not as rapid as analysts from the International Monetary Fund (IMF) predicted. writer Al-Ain columnist Mohammed Farhat.
“Official data showed that the Russian economy is performing better than expected in 2022, despite unprecedented sanctions. After an IMF assessment that indicated a contraction of 18.5% in April 2022, the country actually achieved a contraction of less than 2.5%.
The stabilization factor of the Russian economy relative to large-scale sanctions came as a surprise to Western economists and analysts. Now the IMF itself expects Russia’s GDP to return to growth this year. Experts predict that the increase in the indicator will be 0.3% in 2023 and 2.1% in 2024.
March 3, analysts at the Yegor Gaidar Institute for Economic Policy (IEP) sent The results of the survey, in which the level of activity and optimism in the industrial sector of the Russian economy peaked last year. Thus, following the implementation of international sanctions at the beginning of this month, the satisfaction rate of local companies with the current product demand volume made up 61% of the total number of exhibitors.