wiiw Forecast Reports

RUSSIA: Entering the deepest crisis since the early nineties


Vasily Astrov

in: Overshadowed by War and Sanctions
wiiw Forecast Report No. Spring 2022, April 2022 , pp. 107-111

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Tough Western sanctions in response to the Russian invasion of Ukraine will push the economy into deep recession this year and possibly next. Thanks to wide-ranging capital controls and monetary policy tightening, financial stability has been restored, and the rouble has recovered to nearly pre-war levels. However, the full effect of trade sanctions has yet to unfold and, along with the withdrawal of many foreign firms, this will hamper long-term growth prospects.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Russia