Russia is now the most sanctioned country in the world, with 19,000 sanctions against its different entities and individuals. Despite Western penalties and the rising costs of an already expensive war, the Russian economy has managed to show resilience. This becomes even more prominent as Europe’s biggest economy, Germany, has shrunk by 0.3 per cent.
The real challenge before Russia is to turn its current resilient GDP growth – driven by massive spending on the military-industrial complex drawn from its remaining reserves, dwindling oil and gas revenues and undefined but rising non-oil and gas revenues – into a sustainable state programme that fosters industrial development in other areas as well. However, the path ahead remains a very rocky one. Swasti Rao Associate Fellow, Europe and Eurasia Center, at the Manohar Parrikar Institute for Defence Studies and Analyses, says in this week’s column
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Read full article here: https://theprint.in/opinion/russias-gdp-growth-shows-resilience-against-western-sanctions-but-it-only-tells-half-a-story/1960621/
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The real challenge before Russia is to turn its current resilient GDP growth – driven by massive spending on the military-industrial complex drawn from its remaining reserves, dwindling oil and gas revenues and undefined but rising non-oil and gas revenues – into a sustainable state programme that fosters industrial development in other areas as well. However, the path ahead remains a very rocky one. Swasti Rao Associate Fellow, Europe and Eurasia Center, at the Manohar Parrikar Institute for Defence Studies and Analyses, says in this week’s column
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Read full article here: https://theprint.in/opinion/russias-gdp-growth-shows-resilience-against-western-sanctions-but-it-only-tells-half-a-story/1960621/
---------------------------------------------------------------------------------------------
Exclusive content, special privileges & more – Subscribe to ThePrint for Special benefits: https://theprint.in/subscribe/
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