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Despite the war and the ongoing global sanctions, the Russian economy is in great shape, according to the Economist. That the ultra-establishment, pro-Western outlet is acknowledging Russia’s strong economy is news in and of itself.
Independent analysis from Western financial institutions closely matches Putin’s claims about high consumer confidence. Russians are buying more cars, cognac and sparkling wine, and the country’s GDP is growing faster than 95% of wealthy countries.
Putinomics involves massive government expenditures into the domestic economy, mostly related to the war in Ukraine. But with a deficit equal to 2% of the GDP, the good times won’t last long, the Economist notes. Enjoy it while it lasts.
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