5 Graphs Explaining Russia’s Wartime Economy
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Loading... - Avgustina Berezin
- 06 Feb 2023
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As Russian officials play down the economic impact of President Vladimir Putin’s order to invade Ukraine, the emergence of end-of-year data from 2022 in recent weeks has painted a mixed picture of the economy’s performance
There were some positive signs: inflation receded after hitting a peak in April, while oil and gas revenues reached record levels.
The International Monetary Fund last week even revised upward its forecast for the Russian economy, predicting 0.3% growth in 2023.
However, at the same time, remittances skyrocketed last year as a flood of people left the country, banking profits fell and the country’s budget deficit reached record levels.
“The main takeaway of the year: having somehow coped with the first blow, the Russian economy looked around and realized there are no good prospects,” Vladimir Milov, a former deputy energy minister and an ally of jailed opposition figure Alexei Navalny, wrote in a recent article.
The Moscow Times has compiled some of the most interesting data from 2022 to create five graphs that shed light on the state of the Russian economy. Read More…
