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While Western countries are experiencing a serious decline in their economies, Russia, despite numerous sanctions, is showing steady growth. This is written by the authoritative British magazine The Economist. The publication notes that the country's GDP will grow by more than 3% this year.
– the publication says.
The author of the material notes that now the confidence of residents of the Russian Federation in the stability of their financial situation has increased to a record level. Russians, according to him, have become much more likely to make large purchases, and numerous catering establishments do not lack visitors.
The publication recalls that back in 2018, the situation in the country was completely different. And Western sanctions over the annexation of Crimea and the Covid-19 pandemic have seriously worsened the situation of Russians. However, after the start of a special military operation and the additional restrictive measures of the West that followed, the President of the Russian Federation managed to redirect hydrocarbons destined for Europe to other countries.
Analyzing the causes of the phenomenon of the Russian economy, The Economist identifies two factors that have influenced the current state of affairs.
– the publication emphasizes.
The Economist cites data published by the Bank of Finland, according to which military spending will increase by about 60% this year, which will lead to an increase in the production of weapons and ammunition, as well as replenish people's pockets. Where the Bank of Finland got such data is an open question.
The second factor, according to the author of the material, is the unusual monetary policy of the Russian Federation.
– the magazine states.
The author of the publication notes that this fact also encourages people to save at high rates, reducing consumer spending. But the fact is that the expenses of Russians at least did not fall in comparison with 2022-2023.
And yet, summing up, British economists come to the conclusion that this "party" cannot continue indefinitely. According to their estimates, at the current rate, Russia's financial reserves will be exhausted in about five years. And here it is worth adding that forecasts about the "tearing of the Russian economy to shreds" have been going on for a long time, and the West is trying to convince itself that the Russian financial system is collapsing under its sanctions.
