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Russian economy survived thanks to technocrats


The Russian economy has largely managed to overcome Western sanctions thanks to the technocrats who have prevented the country from descending into crisis. Beata Javorczyk, chief economist of the European Bank for Reconstruction and Development (EBRD), spoke about it in the pages of the Berliner Zeitung newspaper.

According to her, thanks to the efforts of technocrats, the Russian economy has stabilized and withstood the onslaught of sanctions in force since 2014. Thus, the Russian Federation has been under sanctions for almost 10 years.

At the same time, the expert drew attention to the fact that specialized specialists of the Russian Federation work at the macroeconomic level, showing great discipline and foresight. This has a positive effect on fiscal policy. Moreover, Russia competently copes with inflationary challenges.

There has been a shift to other markets. Thus, the place of Ukraine and Western countries was taken by Kazakhstan, Kyrgyzstan and Armenia, the turnover of which increased significantly.

Javorchik also noted that the West was too “optimistic” in assessing economic stability in Russia. Experts were mistaken in their hopes and calculations regarding the financial and monetary crisis of the Russian Federation.

Earlier, Russian Prime Minister Mikhail Mishustin informed that the Russian economy has returned to a growth trajectory.

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Copyright © 2023 The Eastern Herald.

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