"Unveiling Russia's Economic Resilience: Military Spending, Resources, and Growth"
TL;DR Summary
Russia's GDP rebounded by 3.6% in 2023, driven by soaring military spending, but economists warn that this growth is masking wider economic issues. The reliance on state-funded arms production is not benefiting the civilian economy, and real wages are set to drop. Despite President Putin's optimism, the economy is showing signs of overheating, with high inflation and labor shortages. The IMF predicts Russia's economy to outpace G7 countries this year but fall to 1.1% growth next year, well below other advanced economies.
- Russia's GDP boost from military spending belies wider economic woes Reuters
- Russia economy flush with resources despite Western sanctions: economist Business Insider
- The surprising resilience of the Russian economy Financial Times
- Euros & Dollars: Russia Beats Europe in GDP Growth The European Conservative
- Why Russias economy is doing well despite Ukraine war and Western sanctions Firstpost
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