Finance & economics | On thick ice

In 2022 Russia kept the economic show on the road

The world’s ninth-largest economy did a lot better than expected

People enjoy skating on the ice rink on Red Square decorated for Christmas and New Year celebrations, with the St. Basil's Cathedral and the Spasskaya Tower and the Kremlin Wall in the background in Moscow, Russia, Friday, Dec. 2, 2022. (AP Photo/Alexander Zemlianichenko)
Image: AP

The past year has been bruising for Russia’s economy. Foreign investors fled en masse, many never to return. Official forecasts suggest that few countries will see their gdp shrink by more this year. Only a handful of countries, including war-torn Ukraine, will end up posting worse numbers.

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