Russia economy I was on Tracking for 5%-6% expansion in 2022 Western sanctions are not derailed growth for years and people in a period of Russian technological stagnation economy veteran Oleg Fusion told Reuters.
Fuogen said that there was no disaster, with Comprehensive penalties imposed against Moscow over dispute in Ukraine is only 30%-40% as effective as Russia found Ways to overcome limitations, but caution of Grand problems should Low Russian export earnings.
“If there were no Russian sanctions,” he added economy 6% could have grown this year”Fusion, who Served as Deputy Finance minister and central deputy bank Ruler during his career before retiring from the Moscow Stock Exchange post This year for Reuters in Interview.
In January-February one We could see a very strong takeoff coming. he turns out that there is a negative effect. While that of 5% growthwe fell of 4%, so the penalties work. “
Russian officials are making unremitting efforts to praise Russia’s economic strength in The face of Penalties.
President Vladimir Putin predicts that the Gross Domestic Product (GDP) decline just 2% this yeara more optimistic about his predictions economy Ministry expects of about 3% declinebut a lot improved on World Bank forecast for April of 11.2% breakdown.
Russia current Account surplus – the difference in The value between exports and imports – more than triple year-over-year in The first eight months of 2022 to record $183.1 billion, as revenue rose during sanctions caused Imports to sink, though central bank Expect to shrink in The second half of The year.
Fusion said the outlook is bleak with There is no end to the struggle in Scene.
“The numbers can vary, but main result of Sanctions are that economic growth to treat in Russia is cut off for several years “.
“While export earnings are high, the economy Receives very strong support. “If exports are severely restricted.. this will be cause Huge damage, we’ll see next Course of lower gross domestic product.
After imposing the most severe penalties on Russia in modern historyIncluding cutting some of Its major banks from global financial Western system countries And their allies are now preparing to limit use of Russian oil and gas.
Meanwhile, China harvests rewards of The cheapest energy supply from Russia, as Moscow looks east in Search of alternative markets.
Fusion expects to feel some impact of the sanctions with delay, which is in The technology Sector where accreditation on Imports are high.
Industry sources told Reuters last The month when Russian airlines, including state-controlled Aeroflot, began stripping jet aircraft to secure spare parts they could no longer afford. buy abroad because of of Penalties.
“The world will move forwardbut only Russia use some second-rank technology And the spend Huge resources to recreate what’s out there already he is in the world, but it cannot be imported.”
“If the situation does not change, Russia will gradually witness decline in the level of technology development. “
