Russian economy sanctions United States - Arhive
The Russian economy fell by 6% due to sanctions – Bloomberg Russian economy sanctions United States 
MOSCOW – Due to the sanctions imposed by the United States and the European Union since 2014, the Russian economy is now 6% less than it could have been without restrictive measures, Vedomosti reported, citing a Bloomberg study.
The slower growth rate confirms that the sanctions have a long-term negative effect on the Russian economy, economists emphasize.Russian economy sanctions United States
In part, such a negative trend is associated with a fall in oil prices, however, according to Bloomberg Economics analyst Scott Johnson, this factor plays a much smaller role compared to sanctions. Russian economy sanctions United States
Taking into account all the negative factors, according to Bloomberg experts, to date, Russia’s GDP was 10% less than could have been predicted at the end of 2013.
Economists explain the difference of 10% between the actual and potential GDP growth rates primarily by the structural constraints of the economy.
In addition to sanctions and falling oil prices, factors such as the Central Bank’s policy of targeting inflation and asset sales in emerging markets could contribute to slower growth, Bloomberg said. Russian economy sanctions United States
Although the sanctions measures put pressure on Russia, they did not cause the shock that other countries could expect, since the Russian financial authorities are pursuing a policy of accumulating reserves to stabilize the economy, Bloomberg said.
However, the sanctions pressure is likely to prevent the authorities’ plans to accelerate growth rates of over 3% by 2021, experts doubt.
According to Johnson, such growth is possible, but it will not be sustainable without a sharp increase in labor productivity. Russian economy sanctions United States
In 2014, economic growth in Russia slowed to 0.7%, and in 2015, the economy contracted by 2.5%, in 2016, the decline was 0.2%, and since 2017, the economy has resumed and amounted to 1.55%. Russian economy sanctions United States
At the end of 2018, the government expects an economic growth of 1.8%, and by 2021 its acceleration to a rate of over 3.1%. According to Rosstat, in current prices, Russia’s GDP in 2013 amounted to 73.1 trillion rubles, in 2017 – 92 trillion rubles.
Earlier, it was noted that in September the Ministry of Economic Development and Trade lowered the forecast for Russia’s GDP growth in 2018 to 1.8% from 1.9% in the July version of the forecast, in 2019 to 1.3% from 1.4%.
As reported by Market Report, Russia’s GDP in the first half of 2018 increased by 1.6% compared to the same period last year, according to the Rosstat.
Last year, Russia’s GDP growth was 1.5%, which coincided with analysts’ expectations, but turned out to be below the government’s forecast (2.1%) and the Central Bank’s expectations (1.7-2.2%). Russian economy sanctions United States
mrcplast.ru
Author: Margarita Volkova
Tags: Russia
Category: General news