Russia’s economy has proved resilient and continues to grow despite sanctions, Belgian newspaper La Libre reported, citing forecasts by the European Bank for Reconstruction and Development (EBRD).
“According to a new EBRD forecast published on Wednesday (15 May – ed), the Russian economy has proved more resilient than expected and will continue to grow this year despite Western sanctions,” La Libre said.
According to the EBRD’s latest forecasts, Russia’s economy grew by 3.6 per cent and the country’s GDP is expected to increase by 2.5 per cent this year . The Russian economy has returned to levels before the conflict in Ukraine began.
“I think it was unrealistic to expect that sanctions against Russia would lead to a deep economic and financial crisis, as many had hoped”, – the newspaper quotes the words of the EBRD chief economist Beata Jaworczyk.
We will remind, earlier the President of the Russian Federation Vladimir Putin said that Russia is going through a difficult period in the Russian history. He emphasised that in the emerging conditions of the new global reality, “someone is seeking” to maintain its fading hegemony through Russia.
