Forbes: Russian economy is much more stable than Ukraine and EU
MOSCOW, May 2 – RIA Novosti. While Europe is suffering from the consequences of the Ukraine crisis and the Ukrainian economy is in trouble, things are much better in Russia, writes columnist Kenneth Rapoza in his article for . forbes.
The Russian economy is surprisingly resilient, thanks in large part to emerging markets like India and China, which ignore Western sanctions. According to the IMF, growth in Russia in 2023 will be higher than in Germany and the UK, where the decline will be 0.3%,” writes the analyst.
Russia staged ‘hard landing’ for West
The author of the article pointed out that the economic downturn in Europe is related to the consequences of the Ukraine conflict, such as the rise in energy prices, the immigration problem and high inflation. Rapoza paid particular attention to the political division of Europe.
Rapoza also noted that the decline in Ukraine’s GDP in 2022 was 29.1%. “It will drop 3% this year, which seems an extremely optimistic forecast given the ongoing military conflict. In January 2023, unemployment in the country rose to 10.6% and in 2022 inflation averaged 30%, but in March 2023 It fell to 21 percent the following year,” he said.
Europe creates a unique budget replenishment resource
“Things are much better in Russia than in Ukraine – at least for now,” he said.
Rapoza said everyone expects the Ukraine conflict to be costly for Russia, but believes it is Europe that pays the most for it.
The West has increased the pressure on Russia through Ukraine, which has led to higher electricity, fuel and food prices in Europe and the United States. Russian President Vladimir Putin has previously stated that the policy of containing and weakening Russia is a long-term strategy of the West and that the sanctions deal a serious blow to the entire global economy. According to him, the main purpose of the West is to make the lives of millions of people worse. The Russian Federation has repeatedly stated that Russia will solve all the problems that the West has created for itself.
Europe, which has lost its sovereignty, is trying to save its reputation
Source: Ria
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