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.

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

      The latter two are clearly better sources, which makes me wonder why you didn’t use them.

      Hmm… maybe it was because this was in the NPR one?

      Russia is paid by receiving revenues from China, India, Turkey and other buyers of Russian oil products and a big part is so-called non-oil-and-gas income which economy produce itself.

      Maybe also this part?

      So that’s why we’re talking that Russian economy is now operating on its maximum capacity. And I don’t see any signs how it can grow faster. And when we are looking at this bright figures, about 3% of GDP growth or this super low unemployment rate, we need always keep in mind what there is behind. And behind is Vladimir Putin impossible trilemma for 2024, because he will need to fund the ongoing war against Ukraine, maintain the facade of business as usual for population and safeguarding the macroeconomic stability, which is quite complicated because Russia abandoned lots of institutions like budgetary rule or predictable tax system. So the situation looks solid, but it’s very fragile.

      Is it that you didn’t think I’d read them or is it because you didn’t read them yourself?