- Russia’s economy may face multiple long-term challenges, but for now energy exports appear to be helping it ride out Western sanctions imposed over the offensive against Ukraine.
- The IMF forecast the Russian economy to contract just 3.4 percent over the whole year, after contracting 21.8 percent during the second quarter at a quarterly annualised rate.
- And for 2023, the IMF now expects Russia’s economy will contract 2.3 percent, an improvement from the 3.5 percent it forecast in July.
Resilient Russian Economy Surfs Sanctions on Oil Boom
