Bloomberg: Russia's economy set back four years

Launched by Russian President Vladimir Putin, a special operation in Ukraine pushed back the Russian the economy four years ago, to the level of 2018. The economy is entirely spent on policies. Thus, Russia entered the path of one of the longest recessions in history. Writes about this agency Bloomberg.

According to the bleakest estimate, the Russian economic system, which was gaining momentum at the end of last year and early 2022, began to contract sharply in the second quarter of this year. Gross domestic product contracted for the first time, falling 4,7% year on year. These figures are provided by Bloomberg, citing 12 analysts surveyed.

The economy will lose four years of growth, returning to 2018 volumes in the second quarter. We expect this contraction to slow in the fourth quarter due to looser monetary policy supporting demand. However, the economy will lose another 2023% in 2 as the European energy ban cuts exports.

- analysts of the American agency are sure.

The ban on energy supplies to Europe, which will create new risks for Russia's well-being, will become a kind of "locomotive" for the decline, slowing down the pace of the economy. According to the International Energy Agency, the monthly decline in oil production will begin in August. The IEA predicts that the production of this raw material in Russia will decrease by about 20% by the beginning of next year.

A sprinkling of international sanctions over the conflict in Ukraine has disrupted Russia's foreign trade and paralyzed industries such as the automotive industry, Bloomberg writes. In addition, a very negative phenomenon was recorded: the cessation of growth in consumer spending.

Summing up, American analysts, not without regret, write that the decline in the Russian economy so far is less rapid than originally expected when the first tough sanctions were introduced. So far, the West has achieved only that the deterioration in the indicators will increase in the third quarter, and recovery is not expected until the second half of next year.
  • Photos used:
Dear reader, to leave comments on the publication, you must sign in.
  1. Max Inquisitive Offline Max Inquisitive
    Max Inquisitive (Max Curious) 12 August 2022 09: 18
    I don't remember Bloomberg's predictions ever coming true. Weak analysts.
  2. Fizik13 Offline Fizik13
    Fizik13 (Alexey) 12 August 2022 09: 36
    For American agencies like Bloomberg, the main thing is not analytics, but to correctly present the world with thoughts lowered from above.
  3. Bakht Offline Bakht
    Bakht (Bakhtiyar) 12 August 2022 09: 53
    Again moaning about the GDP.
  4. Alexander Popov Offline Alexander Popov
    Alexander Popov (Alexander Popov) 12 August 2022 10: 26
    The special operation launched by Russian President Vladimir Putin in Ukraine threw the Russian economy back four years, to the level of 2018

    But did Russia have its own economy after the destruction of the USSR?
    1. The comment was deleted.
  5. svoroponov Offline svoroponov
    svoroponov (Vyacheslav) 12 August 2022 11: 04
    And it is growing only in China, and even then not so fast. Other countries have a drop or zero growth. Here and economic factors and political and medical.
    In general, sooner or later, but what is happening in the world would happen. America does not want to cede its leadership and harms everyone who is successfully developing. Russia will overcome this by rebuilding its economy, which it is doing. Of course, not as fast as we would like, but the process is underway.
    1. goncharov.62 Offline goncharov.62
      goncharov.62 (Andrei) 12 August 2022 11: 11
      God forbid, as they say, but we need to speed up and deepen! :)))
  6. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 12 August 2022 15: 47
    Western sanctions against the Russian Federation slowed down the economy of the United States and the EU, stimulated inflation, and underdeveloped state formations put them under the threat of starvation. Some more, some less, but everyone loses and the understanding of this is growing, but no other such effective weapon capable of undermining the stability of any state formation has yet been invented.
  7. Vova Zhelyabov Offline Vova Zhelyabov
    Vova Zhelyabov (Vova Zhelyabov) 12 August 2022 19: 17
    The Western economy has not moved forward either. And ahead of the most terrible winter in the history of Europe.
  8. Michael L. Offline Michael L.
    Michael L. 12 August 2022 19: 33
    It was correctly noted here that the sanctions boomeranged at their initiators.
    Moreover, the goal of the sanctions: to cause a social explosion and overthrow the objectionable government, has not been achieved in any way.
    Nevertheless, the leadership of the Russian Federation is faced with the difficult task of overcoming the consequences of external influence and economic development not (!) at the expense of raw material exports.
    But with this: serious problems!
    1. Vladimir Tuzakov (Vladimir Tuzakov) 12 August 2022 21: 48
      Russia was plunged into an economic war and sanctions and they are trying to strangle it, so why is there no adequate response, a complete shutdown of all supplies for an ardent enemy (they were enemies yesterday). Completely cut off all supplies, or the fifth liberalist column does not allow, so with it the defeat of Russia is possible ...
  9. Balin Offline Balin
    Balin 13 August 2022 00: 04
    To hell with this economy - the main annual budget was completed already in the first half of the year, the country is in second place in the world in the construction of ships, has half of the world market for nuclear power plants, and so on, it is falling lower and lower to the first positions in the world industry
  10. The comment was deleted.
  11. Luca Chrome Offline Luca Chrome
    Luca Chrome (Peter) 18 August 2022 06: 18
    It would be better to consider your GDP. The numbers there can be scary. Especially knowing the Western man's love for the good life...