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.

  • Billiam@lemmy.worldEnglish
    0·
    4 months ago

    My dude, nobody denies that a wartime special military operation economy is good in the short term.

    The problem is, you’re spending money on things you’re going to blow up instead of spending on things that will generate a positive ROI.