Posted 4/2/2024, 9:45:00 AM
Russian Economy Shows Resilience Despite Sanctions, But Risks Remain
- Russia's economy grew 3.6% in 2023 and is forecast to rise 2.6% in 2024 despite sanctions
- Consumer spending and wages are up due to higher incomes and year-end bonuses
- Business climate indicator hit highest level since 2013 and stock market recovering
- Risks remain from sanctions impacting foreign trade and economy overheating
- Russia relying more on Chinese yuan as options for reserves decrease due to isolation