4 ms·
The IMF predicts the Russian economy will shrink by 6% in 2022. That's not what I'd call an implosion. The sanctions will obviously have long term effects but t
by unmole 4y ago
The IMF predicts the Russian economy will shrink by 6% in 2022. That's not what I'd call an implosion. The sanctions will obviously have long term effects but the reports of Russia's imminent economic collapse are greatly exaggerated.
- ben_w 4y agoHuh, looks like 6% is a recent forecast, explaining why I thought the predicted percentage was larger. Longer term, the EU is phasing out fuel purchasing from Russia as fast as it can, with an aim to do so by the end of the decade; as this is also tied (loosely) to environmental goals, that isn't likely to be undone even if the Russian government suddenly decided that they were wrong and everyone else was right, apologised for everything, and rebuilt all the damaged cities. If the EU had been able to instantly stop all their purchases from Russia, not just what they have stopped so far, I think that would've been an almost 15% hit to Russian GDP?