Open numbers on the Russian economy not crushed as the West predicted.

Russia's wartime economy grew less than 3%, but not as plummeting as the West thought.

August 30, 2022 Xinhua News Agency Russia's economic situation statement by Andrei Belusov, First168slotxo.infoDeputy Prime Minister of Russia, forecasts that Russia's gross domestic product (GDP) this year will fall below 3 percent and slightly higher than 2%

During the Aug. 29 government meeting on improving the stability of the Russian economy under sanctions. Belusov said Russia would limit its GDP to a decline of 0.6 to 0.8 percent next year, which would help create favorable conditions for real and fiscal income growth.

The Russian Ministry of Economic Development previously forecast the country's GDP to fall 4.2 percent this year and 2.7 percent in 2023.

Economic news web Business Insider Russia Economic Assessment Report Many figures show that it hasn't been crushed like a train crash as some of the leading Wall Street companies had predicted. from being swarmed by Western nations

GDP has not plunged into recession.
Six months ago, leading US investment banks speculated that the Russian economy would plummet as soon as Russian President Vladimir Putin ordered his army to invade Ukraine. But later began to change the results of such analyzes.

JPMorgan Strategic Analysts recently said the economic figures did not show a decline in activity after forecasting in March that Russia's GDP would plummet 35%. in the second quarter

“GDP appears to be in line with the decline. But it's not a plunging recession," said JP Morgan.

Crude exports and higher oil prices turned out to be a boon to the Russian economy. Meanwhile, the IMF views the Russian government's program to keep the unemployment rate low. It seems to be working so far.

The potential for the Russian government to turn to Asian customers for exports It also helped mitigate the effects of Western sanctions that had hoped to strain the Russian economy.