May 29, 2023
IMF building in Washington

International Monetary Fund in Washington


The Russian economy turned out to be much more resistant to international sanctions than experts expected. This is stated in the report of the International Monetary Fund (IMF), which is dedicated to the state of the EU economy. RIA News.

“For now, the Russian economy has proven to be more resilient to sanctions than initially expected by many observers,” the IMF said.

It is noted that despite a sharp drop in the second quarter of 2022, the Russian economy began to rise in the third and fourth quarters. As a result, at the end of the year, the decline in production was reduced to 2.1%.

Earlier, the Russian authorities stated that domestic economy shows growth from July 2022, and Russia’s GDP growth in 2023 is projected at 1–2%. In addition, the level of wages in the country will grow – according to the results of April, the figure will reach 10% in annual terms.

In early April, the President of the Russian Federation stated that, although the Western initiators agreed to a sharp break in trade and economic ties with Moscow, Russia managed to survive and ensure the stability of the economy. The Russian leader noted that the country has managed to concentrate its resources and efforts, including taking a number of necessary steps to replace Western products with analogues of domestic or foreign production from “friendly” states. At the same time, he noted that the work of the government in an operational and extremely stressful mode gives positive results. In particular, a new cycle of economic growth was recorded.

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