BNN: Russia’s Economy to Grow by 2.8% in 2023, Predicts Finance Minister
Anticipating a more robust financial year ahead, Russia’s Finance Minister Anton Siluanov has forecasted a 2.8 percent expansion in Russia’s GDP in 2023, a significant bounce-back from a 2 percent contraction experienced in the previous year. Siluanov attributes this hopeful outlook to full compensation for last year’s decrease and the stabilization of the ruble exchange rate.
Rebound from Economic Contraction
The predicted growth in Russia’s economy marks a recovery from the challenging economic climate of 2022 when the nation grappled with a 2 percent economic decline. Siluanov, however, projects a promising 2.8 to 3 percent expansion in the upcoming year, viewing it as a reparation for the previous year’s downturn.
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Update #1: Russia's economic situation develops steadily – Putin (TASS)
Update #2: Russia brings back capital controls to shore up the ruble (CNN)
WNU Editor: The Western media likes to focus on the rise and fall and rise of the Russian ruble, but the Russian economy is more than just that. So here is my recap. The civilian economy is booming and it is causing problems (inflation, labor shortages, etc.). And as for that part of the economy that is dedicated to military production .... I cannot even express in words on how huge of an impact that is having on the economy as a whole.
But the big story on the Russia economy that many in the West have not caught up on is the Kremlin's priority to re-industrialize the country. I know the money is there to make it happen, but the big problem that I see will be having the workers to make this all happen.
Update #3: The Duran's analysis on the Russian economy (see below) concurs with what I know is happening in Russia.
3 comments:
Too many posts on this blog that the Russian economy is dying and has been dying for the last 13 years. It will also continue to die for the next 13 years with no changes. :)
The people on this blog who look at one economic factor and say the economy is dying are superficial and blind.
A man that looks like Putin said a bunch of words again. He's not lying, of course, he had no choice. His ratings were plummeting, questionable decisions like the pension reform were reflecting poorly on the government. He had no choice but to choke out any remaining opposition, establish a full-on autocracy, and start a war that would preserve the status quo.
Russia will hav to start importing labour. But at least they aren’t dumb enough to just open up the borders. They will have programs much like the US had at its high water mark. The west is becoming what the east was and the East is becoming what we once were.
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