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Russian society feels like a stagnation. Moscow suffers from sanctions

Russian society feels like a stagnation.  Moscow suffers from sanctions
  • The economic crisis in Russia will continue to develop, and some effects of sanctions will be delayed
  • Russian household consumption fell – spending in the second quarter fell in real terms by 7.5 percent. every year
  • The massive flight of capital makes the decoupling of the Russian economy from the economies of developed countries a permanent phenomenon

It also feels sluggish Russian society. Household consumption fell sharply – spending on goods and services in the second quarter fell in real terms by 7.5%. every year. The invasion caused a high rate of inflationAlthough it is not driven by commodity prices as in the European Union. At the same time, unemployment readings are still low, but this does not reflect the actual state of the economy, as the peculiarity of the Russian labor market lies in the high share of informal employment and employment in the state sector,” we read in a new PIE study.

At the same time, PIE notes and affirms that the sharp increase in energy commodity prices in the world means that after the start of the invasion Budget revenue of the Russian Federation Hydrocarbon exports have grown dynamically. However, in the following months, sanctions and a significant cut in supplies, even to EU countries that agreed to pay in rubles, meant that despite record gas prices rising, gas export revenues stopped growing.

PIE experts have no doubt: However, the economic crisis in Russia will developand delayed some of the effects of penalties.

The PIE comment reads: “The improvement in some forecasts and the persistence of some indicators at a higher level than during the 2015 crisis causes researchers to differ in their assessment of the magnitude of the negative impact of sanctions on the Russian economy.”

One of the most worrying things about the Kremlin The assessments include the recently released Yale CELI4 report, which shows that 1,000 foreign companies that have left the Russian market may be responsible for creating about 40 percent. Russian GDP.

PIE analysts concluded that “massive capital flight will make the disintegration of the Russian economy a permanent phenomenon.”

(youth)

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