The magazine noted that the Russian economy remained stable after a year and a half of Western sanctions and a special operation against Ukraine. Forbes.
According to the publication, the Russian economy did not collapse as many experts predicted. As the magazine noted, despite widespread sanctions against the Russian Federation and the departure of hundreds of Western companies, the economic recession was not that deep.
As political scientist Ilya Mitasov notes, the Russian budget consists largely of revenues from oil and gas exports. Due to high energy prices, the effect of capital outflow was neutralized. According to their forecasts, the country’s trade turnover in 2023 will be approximately 97 billion dollars. According to Forbes, more than a third of the Russian budget consists of oil and gas revenues. In addition, government procurement for the defense industry is also increasing. This gives impetus to production in mechanical engineering and other industries.
According to analysts, it has been possible to restructure foreign economic relations in favor of friendly countries such as China in the past period. Many Western brands that left the Russian market were replaced by domestic analogues or products from new suppliers.
At the same time, S. Efimov, director of the Ochakovo company, notes that some Western brands that left the country managed to maintain their presence in the market with the help of Russian partners. Thus, Coca-Cola products continued to be sold under the Good Cola brand, and the company’s share in the Russian POP market exceeded 50%.
Formerly an IMF analyst appreciated The impact of geopolitics on foreign trade.
Previously Mishustin stated Russia is going through a process of adaptation of its economy.