Despite Western sanctions over the Ukraine war, Russia has transitioned from an upper-middle to a high-income economy, according to the World Bank's latest rankings. Factors such as increased military activity, a rebound in trade and construction, and growth in the financial sector contributed to this shift. Consequently, Russia's Atlas GNI per capita rose by 11.2%.

Despite sanctions by Western countries against Russia due to the Ukraine war, the country has become a high-income economy from an upper-middle income economy. In its latest rankings, the World Bank has promoted the Russian economy to the top income category.

  • snooggums@midwest.socialEnglish
    0·
    4 months ago

    Wartime spending is temporary and will lead to massive layoffs and a recession when Putin’s failed attempt to start WWIII finally ends.

    It isn’t like the US post WWII where there is a world waiting to buy the excess US manufacturing output to rebuild. Our decline in manufacturing is a combination of less need and the eventual shipping overseas as rebuilt nations started to crank up their lwn industries and US companies decided they would make more short term profits by outsourcing.

    Russia on the other hand has made bedfellows with China and North Korea, neither of which is likely to have any interest in Russian manufacturing in the short term, if at all. If China keeps leaning into renewables, Russia’s fossil fuel industry will also collapse.

    Putin doesn’t have only his ego to worry about when it comes to admitting defeat in Ukraine.

        • anticolonialist@lemmy.worldOPEnglish
          0·
          4 months ago

          No but he like many others were able to project what would happen if the US pushed for NATO membership, and here we are. They, including Biden, knew what buttons to push to provoke war. Now after dangling NATO membership to Ukraine they are told they are too corrupt.

          The US used Ukraine for what they needed and are now tossing them aside like they do everything else. Then once again the world will start reporting Ukraine as being corrupt and full of Nazis like they did pre invasion.

          • Flying Squid@lemmy.worldMEnglish
            0·
            4 months ago

            Biden did not force Putin to invade Ukraine. No one forced him to do it. In fact, Russia explicitly pledged not to do so in exchange for Ukraine’s nuclear weapons.

            “They wanted Ukraine to join NATO” is not an excuse to break that pledge, nor is it an excuse to invade Ukraine and annex part of it.

              • Flying Squid@lemmy.worldMEnglish
                0·
                4 months ago

                Once again, you either didn’t read your link or you didn’t think I would:

                Those documents provided that Ukraine would transfer all strategic warheads on its territory to Russia for elimination and, in return, would receive security assurances, compensation for the commercial value of the HEU, and Nunn-Lugar assistance to help with the disposal of ICBMs, ICBM silos, bombers and other infrastructure on Ukrainian territory. Perhaps as importantly but less tangibly, the Trilateral Statement removed what would have been a major impediment to Ukraine’s development of normal relations with the United States and the West.

                What ‘security assurances’ do you think they were talking about?