Dmitry Belousov, head of analysis and forecasting of macroeconomic processes at the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF), says that sanctions against Russia cannot be called effective.
“The first compliance with sanctions was achieved in Russia. The main mistake of those who promote them is that the world has ceased to be cyclical in terms of production. Sanctions for the supply of raw materials and components work poorly. If in the 90s there were no analogues, now almost everything can be changed. “We can safely say that the sanctions are ineffective,” he said.
Belousov added that Russia has quite a large margin for inflation.
“At the end of the year, Russia is going to around 5 percent. There is a shortage of demand in Russia. Many non-food products left the Russian market last year, and the public postponed purchases to a later date. Also, little-known companies entered the non-food market, so there is a very low dynamic in the market,” the source said.
According to Belousov, Russia has a low import of components for cars.
“There is the question of who will benefit from the dynamics of demand faster. The pace at which Russia recoupled losses in imports of components and investment equipment. The experience of Iran and Pakistan shows that losses are always compensated, but there are questions about speed, ”concluded Belousov.
Earlier, Russian President Vladimir Putin held a meeting with the Minister of Economic Development Maxim Reshetnikov, during which the minister briefed about the current situation in the Russian economy.