Russia's economy rolled four years in three months of war - Bloomberg

The Russian economy was gaining momentum in the first quarter of 2022, but began to fall sharply. The gross domestic product of the Russian Federation decreased for the first time during the year and fell by 4. 7%. Economist from Russia Oleksandr Isakov said that his country's economy will lose 4 years of growth and roll into the level of the 2nd quarter of 2018. Regression may slow down in the 4th quarter due to the weakening of the monetary policy that supports demand.

Another 2% of Russia will lose in 2023 because Europe will reduce energy exports. According to experts, Western sanctions violated trade chains. Some industries, such as automotive industries, have been paralyzed. Consumer costs have stopped. The Central Bank of the Russian Federation predicts the deterioration of the economy in the next quarters, the restoration should not be expected until the second half next year. "The crisis is moving a very smooth trajectory.

The economy will reach the lower point at best by mid -2023," said the leading economist of the Centro Cradite Bank Yevgen Suvorov. The GDP of the country, according to the Central Bank of the Russian Federation, will be reduced by 7% in this quarter and even more - in the fourth. In the second quarter, the economy decreased by 4. 3%. The situation will be complicated by reducing the supply of energy to Europe since August.

By the beginning of next year, raw oil production in Russia will be reduced by about 20%. Recall that the international energy agency announced on August 11, the limited influence of Western sanctions against Russia. In July, oil production in Russia decreased by only 3%. The US Ministry of Finance has previously predicted that the deepest economic crisis has been waiting for Russia over the last 28 years. This year the Russian economy should fall by 12%.