This year there are many countries that have applied a large number of sanctions to Russia to punish Kremlin for their invasion to Ukraine, this caused Russia's economy at the beginning of the beginning, but over time, these measures did not have the impact that the majority expected, much less has made the Russian president Vladimir Putin, renounce his objectives of possession of the neighboring country.
In this year 2022 Russia will suffer a fall in its GDP of up to 6%, but despite being a fair A banking crisis or a strong increase in unemployment ”, this according to Antón Tabai, chief economist of the Moscow Expert Risk Qualification Agency, in an explanation that gave money.
The reasons for all this are several, but according to the head of the Regional Policy Center of the Academy of Economics and Public Administration, Vladimir Klimánov, ”the Russian economy has a high degree of stability, resistance to large -scale external influences. Russia is a large exporter of raw materials and important goods for the world economy (natural gas and oil first; metals, fertilizers, minerals, cereals). The strong increase in energy prices premiums, which are the main products of Russian exports, has contributed to the preservation of income, even with volume reduction ”
Oil and gas save Russia for the moment
Inside all this conflict, the “adequate measures of the Central Bank of Russia to control capital markets, without directly controlling the change of currency and prices, or the possibility of having budgetary resources”, is what has helped the economy of Russia not staggered, this according to Antón Tabaj.
As a consequence of this, the ruble, in February it fell up to 30%, but it has been gradually recovering and with the rising oil in June it was one of the worldwide currencies that presented a better behavior in the economic field. Inflation in Russia has also been controlled despite the departure of more than 1200 foreign companies, something that has made Russian entrepreneurs buy significant marks such as the McDonald´s fast food chain, something that has certainly benefited the economy.
Although it is oil and gas that, with more than one fifth of the weight of GDP in their possession, are “pulling the car”, to sustain the Russian economy, Russia despite the entire crisis and the war remains the largest oil exporter and products derived from all over the world, despite the sanctions in July exported more than 7.4 million barrels per day of both this was a descent of just 600 thousand barrels, when it was estimated to Out of more than 3 million.