wiiw Forecast Reports
RUSSIA: The crisis in instalments
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in: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. 129-133
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.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Russia