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.

  • RubberDuck@lemmy.worldEnglish
    0·
    4 months ago

    LoL, the cheerleaders of totalitarianism are out again.

    Yeah, also paying poor schmucks from the boonies to come and fight. Minimum wage in Russia translates to a bit over 200 dollars, war pay for contractniki is around 2000 dollars. This is also great for the economy in numbers. It will show an uptick, untill you cannot pay anymore. And down the line, the numbers of able bodied men contributing to the economy will also be lower… But that is a problem for future Russia, while the war is a problem for current Putin.