The Russian economy has proved stronger than the West anticipated, Le Monde said on Tuesday as it commented on how Russia’s economy has been doing over the past 12 months.
According to the French newspaper, “only one thing is certain, the country has not suffered the `collapse’ announced” by the West “and the establishment of Western sanctions, amplified by nine successive waves since March 2022.”
In January, the International Monetary Fund surprised everybody with “a diagnosis <…> disappointing for Westerners <…>: the recession was limited to 2.2% in 2022, far from the 8.5% envisaged in March 2022,” Le Monde reported.
Business activity in Russia should increase by 0.3% this year and by 2.1% in 2024, “i.e. more than the 1.6% expected in the euro zone,” Le Monde wrote.
“Barring a sudden trend reversal, these data would therefore confirm the country’s resistance,” the newspaper said.
