In recent years, the state of Russia's economy has been unpredictable, alternating between signs of collapse under sanctions and surprising growth. In 2023, GDP increased by 4.1%, followed by 4.3% in 2024, driven by a wartime economy. However, forecasts for future growth are dire, with estimates dropping potentially to as low as 0.5% in 2026. A crucial factor in this slowdown is the high interest rate of 21%, which is curbing investment in several key sectors, including construction and auto manufacturing, despite the ruble's 40% appreciation against the dollar in 2023.
Russia's economy has displayed fluctuations, with a GDP rise of 4.1% in 2023, yet forecasts indicate a potential slowdown, with growth expected to drop to just 2%.
The high interest rates in Russia, currently at 21%, are significantly hindering private investment, causing major challenges in key sectors such as construction and auto.
Despite an initial impression of economic resilience, future projections for Russia's GDP growth appear grim, with the central bank anticipating growth rates as low as 0.5% in upcoming years.
Vasily Astrov noted that the ruble's recent appreciation is linked to geopolitical shifts, particularly the previously optimistic approach of former President Trump towards Russia.
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