The Russian economy is much worse than it appears as Moscow's data is a 'collection of lies and distortions,' economist says
In the year since Russia launched its invasion of Ukraine, official statistics from Moscow indicate a resilient economy that's largely withstood the impact of Western sanctions.
After the war began, analysts expected Russia's economy to contract by up to 15% in 2022, as Western sanctions would wear the country down. Instead, it shrank by at least 2.2%, according to best-case scenarios from the likes of the World Bank, the International Monetary Fund and the OECD. Despite what Russian data shows, Bayer explained that sanctions must have had considerable consequences on the nation's supplies, as Russia was heavily dependent on food and component imports, especially from the West.
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