What’s happened?
Russia’s economy is continuing to stabilise and display striking resilience in the face of the Ukraine war and Western sanctions. Last month the IMF increased its GDP growth forecast for Russia to 2.6% this year, a big jump from the 1.1% it had been predicting last October, and a rate that outpaces the G7. Meanwhile, the big worry – rampant inflation fuelled by massive military spending and labour shortages – appears to be stabilising at around 7.5%, and some forecasters expect it to fall to 4% before long. That hasn’t led to a cut in
