map Russia
So far, the effects of Western sanctions on the economy have been generally milder than expected. By Q3 2022, the economy had partly adjusted to the ‘new normal’, thanks to high energy prices, trade reorientation towards Asia and increased military spending. However, with the newly announced partial mobilisation, another wave of the crisis looks to be on the cards. After an estimated decline of 3.5% in 2022, the economy is heading for another recession next year.
Main Economic Indicators201920202021202220232024
Population, 1000 persons146765146460145864...
GDP, real change in %2.2-2.74.7-3.5-3.01.0
GDP per capita (EUR at PPP)204502000021930...
Gross industrial production, real change in %3.4-2.16.4...
Unemployment rate - LFS, in %, average4.
Average gross monthly wages, EUR660623656...
Consumer prices, % p.a.
Fiscal balance in % of GDP1.9-4.00.8-2.0-3.0-2.0
Public debt in % of GDP12.417.616.0...
Current account in % of GDP3.92.46.913.010.210.1
FDI inflow, EUR m28548829633639...
Gross external debt in % of GDP29.029.228.4...

Basic data are continuously updated.

* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.


Monthly Report No. 10/2022

Vasily Astrov, Andrei V. Belyi, Tetiana Bogdan and Vladislav L. Inozemtsev
wiiw Monthly Report No. 10, October 2022
53 pages including 6 Tables and 31 Figures



Executive summary

Branimir Jovanović
in: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. I-VIII