Russia will grow faster than the US and all other advanced economies this year, the IMF says

28 comments

1. >Russia’s resilience against Western sanctions stems largely from its boundless alliance with China. Trade volume between the two countries surged to [a record $240 billion](https://www.businessinsider.com/china-russia-trade-record-ukraine-war-xi-jinping-vladimir-putin-2024-1) last year, fueled in part by Beijing’s appetite for essential Russian commodities that have been discounted amid the West’s reluctance to trade with Moscow. 

2. Those Biden sanctions are really working.

3. Must be that awesome bread they’re selling in the grocery stores.

4. 

5. This is why most people know the IMF is a joke

6. Lol. Pull the other one.

7. I mean…when you are on the “floor” there is more room to reach the ceiling, so the % of growth will look good.

8. What kind of kompromat does Putin have on the IMF

9. When you start from zero this is easy

10. SHIB grew 11430362% since 2020.

    It’s still pretty worthless. 

11. Wars are big business.

12. The sanctions are still affecting Russia’s ability to import certain crucial goods and maintain industries. You can’t come to an absolute conclusion about the effectiveness like other people in this post are doing based off of the overall growth of the economy.

    For example, their airlines are hurting:

    [https://www.washingtonpost.com/world/2024/01/16/russia-air-travel-danger-sanctions/](https://www.washingtonpost.com/world/2024/01/16/russia-air-travel-danger-sanctions/)
    [https://www.newsweek.com/russia-planes-aviation-industry-sanctions-1875135](https://www.newsweek.com/russia-planes-aviation-industry-sanctions-1875135)

    More countries and banks are stopping business with Russia, even in China:

    [https://www.wilsoncenter.org/blog-post/sanctions-are-working-just-ask-russias-friends](https://www.wilsoncenter.org/blog-post/sanctions-are-working-just-ask-russias-friends)

    Russia has also lost access to a lot of products that they might use to update and maintain their technology (such as microchips) and have had to cut spending on healthcare. Millions of people have left Russia in part because of the sanctions. Russian oligarchs have been heavily sanctioned. Russian banks have lost access to the SWIFT system which has had an impact on economic growth.

    The Kremlin has been able to make moves to keep the economy going in the short term but the full effect of the sanctions are in the long term.

13. Per capita GDP in Russia well below 1/2 of what it is in the US. So, they might be growing a nudge faster (3.2% vs 2.7%), but they are still far behind most of the developed world.

14. The Oligopolies will grow faster than the US …

    Fixed it

15. Yes, and the growth of Russia is gonna be, once again, measured in US dollars. Sounds fun how every country’s economy can be measured as a function of the US one😂

16. I’ve doubled my income!! (From $1 to $2).

17. Tell that to the Russian people.

18. Nyet!

19. Dead car bounce. You wouldn’t want to live there

20. Who says they are an advanced economy? They should be in the emerging economy group. 1/3rd don’t have running water and electricity

21. They have basically just mobilized their economy towards war somewhat similar to how the US did in the 1940s etc.

    It’s interesting watching the decoupling of the “other world” in terms of the West and then the… East for lack of a better term. India and China still benefit from both, but Russia and Iran are pretty much decoupled from any western economic systems. After so many rounds of sanctions, it’s no real surprise.

    They are both repressive regimes, but as China also shows, you can be extremely repressive and still run a pretty successful economy.

22. I know a lot of comments are dismissing this fact, but this is concerning. Russia is still a $2-3 trillion economy even with a shrinking population, so its growth trajectory is still impactful. I mean so many sanctions and restrictions, and it’s still growing. It only goes to show US sanctions dont really deter anything. Also, another issue is that this statistic might bring more confidence in the tyrannical regime.

    Or maybe this is temporary due to the current situation. I dont know. But ultimately this is gonna give a boost to Russia to whatever extent — big or small.

23. Lol salty thread

24. When you’re at zero, going upward is not difficult

25. That’s fine. They have a lower GDP than a lot of the top economic powers. A goal of unending growth strictly for the sake of growth is a race to the bottom.

26. India is also growing fast yet they are the toilet of the world

27. Likely rigged. Or just the denominator effect from last year.

28. IFVs, tanks, ammunition, etc.

    Some growth that.