Russia’s economy is showing growth amid elections in the country, unprecedented international sanctions have failed to cripple its economy, Bloomberg writes.
“Wages have risen by double digits, the ruble has stabilized, and poverty and unemployment are at record lows,” the article says.
The agency notes that “there is little public dissatisfaction with the economy.”
“January data on retail sales, real wages and industrial production were better than market forecasts,” the authors write.
At the same time, the authorities are facing new challenges, including inflation and budget deficits, which are dangerous because they could lead to “long-term problems,” the agency says.
Russian Prime Minister Mikhail Mishustin noted that the country’s January GDP growth was estimated at 4.6 per cent.
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