Russia's Economy Rebounds in 2022 Despite Sanctions, But Faces Uncertainty Ahead of 2024 Elections
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Russia's economy grew 5.5% year-on-year in Q3 after contracting last year, ending 4 quarters of decline.
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Growth is forecast at 2.2-2.7% for 2023 despite sanctions weakening the ruble.
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Inflation has surged due to massive military spending and labor shortages.
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The Central Bank raised interest rates to 15% to curb inflation, a sensitive issue in Russia.
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The Kremlin touts economic strength ahead of 2024 presidential elections despite volatility.