08-16-2022, 02:12 PM
The financiers interviewed by CNBC assessed the current state of the Russian economy, which has suffered from sanctions and the withdrawal of many companies from the local market and called it "floundering, but not sinking," admitting that the country did not meet the worst forecasts of analysts.
The interlocutors of the publication noted that in the second quarter, Russia's GDP decreased by four percent year-on-year, which is better than the five percent expected by experts. The estimates of the Russian Central Bank are also given, which predicts reaching the lowest point of the recession in the first half of next year.
Economists admit that there are signs of stabilization in many sectors, but they believe that even after the middle of 2023, Russia will "stagnate at best."
The effectiveness of the measures taken by the Central Bank to stabilize the situation and mitigate the consequences of sanctions, in particular, the introduction of capital controls and a sharp increase in the key rate, is also noted.
The result of these measures was the strengthening of the ruble, which turned out to be one of the most stable world currencies this year. At the same time, Russian economists and officials regularly speak out about the negative effect of the high ruble exchange rate on the competitiveness of exporters and budget revenues.
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The interlocutors of the publication noted that in the second quarter, Russia's GDP decreased by four percent year-on-year, which is better than the five percent expected by experts. The estimates of the Russian Central Bank are also given, which predicts reaching the lowest point of the recession in the first half of next year.
Economists admit that there are signs of stabilization in many sectors, but they believe that even after the middle of 2023, Russia will "stagnate at best."
The effectiveness of the measures taken by the Central Bank to stabilize the situation and mitigate the consequences of sanctions, in particular, the introduction of capital controls and a sharp increase in the key rate, is also noted.
The result of these measures was the strengthening of the ruble, which turned out to be one of the most stable world currencies this year. At the same time, Russian economists and officials regularly speak out about the negative effect of the high ruble exchange rate on the competitiveness of exporters and budget revenues.
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