Bloomberg: production for the Russian Armed Forces compensated for the damage from sanctions for the industry
Production for the Armed Forces (AF) of Russia compensates for a significant part of the damage to the country’s industry from sanctions from Western states. Writes about it Bloomberg.
According to the agency, industrial production in Russia at the end of 2022 decreased by only 0.7 percent, which turned out to be better than forecasts. It is noted that this happened due to state orders for heavy and light industry. Renaissance Capital economist Sofya Donets noted that industrial production figures in 2022 are also stronger than in previous crises.
According to experts, in 2023 Russian industry will grow by another two percent due to military production. At the same time, industry has become one of the most stable sectors of the Russian economy.
Earlier, Russian President Vladimir Putin said that the actual dynamics of the country’s economy in 2022 turned out to be better than many forecasts. According to the estimates of the Ministry of Economic Development, Russia’s GDP in January-November 2022 decreased by 2.1 percent, and by the end of the year – by 2.5 percent, while experts expected an annual decline in the economy by 10-20 percent.
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