The sanctions adopted by the West against Moscow have failed to break the Russian economy, which is able to withstand the imposed restrictions. This is according to the German newspaper Spiegel.
According to experts interviewed by the publication, the decline in quotations of the Russian currency has not led to a recession in the Russian Federation. Moreover, the “weak” ruble helps the authorities to cover the state budget deficit at the expense of raw materials sales, as Russia receives revenues from fossil fuel exports in foreign currency, while pensions, salaries and benefits inside the country are paid in rubles.
Moscow is not particularly sad about the decline in these export revenues either, experts noted: Russia has other ways to fill its budget. And in general, Russia with a budget deficit of 3-4 per cent can exist for years, as the economy is growing.
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