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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Central Bank Survey Says Russia's Economic Outlook Worsens (749 Views)
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Central Bank Survey Says Russia's Economic Outlook Worsens by ryloy: 2:08am On Apr 23, 2022 |
Russia's economic outlook has worsened as a Central Bank survey on Thursday showed a deeper contraction than previously expected and inflation soaring to 22% this year. While President Vladimir Putin insists the economy has managed to weather the barrage of unprecedented sanctions imposed since he sent troops to Ukraine on February 24, economists believe that the worst impact of the sanctions is still to come. Speaking in parliament on Thursday, Central Bank Governor Elvira Nabiullina warned of "difficulties" and the "structural transformation" of the Russian economy due to debilitating sanctions. "Difficulties are appearing across all sectors, in both big and small companies," she said. Nabiullina said the transformation of the economy, which has relied heavily on imports of manufacturing equipment and consumer goods, had begun. "Due to sanctions, Russian consumers and manufacturers are losing access to markets for the import and export of finished products and components," she said. "Problems may arise even when production has a high degree of localization when there is a sufficiently high degree of import substitution," she said. In the latest survey taken by the Bank of Russia on April 13-19, economists forecast an economic contraction of 9.2% this year while inflation is now expected to accelerate to 22%. In a previous poll in March, economists had expected the gross domestic product to fall by 8% this year and for the annual inflation rate to reach 20%. In their latest assessment, the economists also trimmed their growth outlook for next year to zero from 1% previously. According to the survey, unemployment will grow to 6.9% at the end of the year from 4.3% in late 2021. The ruble, which has recovered after plunging to an unprecedented level of 150 to the dollar following the sanctions, is expected to trade at 85 rubles this year, 90 rubles in 2023, and 96 rubles in 2024. It was trading around the 80 to the dollar mark on Thursday. https://www.themoscowtimes.com/2022/04/21/central-bank-survey-says-russias-economic-outlook-worsens-a77447 2 Likes |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by lecowas: 3:11am On Apr 23, 2022 |
So far, Russia has been able to manage the initial shock waves of the sanction, but these things take time, but very soon, very very soon, we'll happily welcome Russia back to the league of third world nations. : and of course a regional nuclear power. 3 Likes |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by mbaboy(m): 3:52am On Apr 23, 2022 |
Putin sanction de nack u woto woto abi you want collect more |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by God1000(m): 4:02am On Apr 23, 2022 |
Putin keeps lying everyday to his people just to save face when the reality is the opposite 1 Like |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by muhammaduyusufu: 5:04am On Apr 23, 2022 |
of course. with almost 20% inflation which is even going to get worse a few months down the line when the Sanctions develop roots... this Moscow Times does not also send Putin, perhaps their staff don't even live in Russia 1 Like |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by seunny4lif(m): 10:27am On Apr 23, 2022 |
muhammaduyusufu:Moscow Time is funded by USA or UK and have no office at all in Russia. 1 Like |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by sapientia(m): 10:54am On Apr 23, 2022 |
Does anyone know that most of the sanctions have not started taking effects They have dates of implementation By the time all of them have been implemented, we can know what will happen For now, lets take these ones as appetizers seunny4lif: You this Putard! So this is the only thing you can type on this thread So its not western propaganda? |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by RichMelanin: 10:59am On Apr 23, 2022 |
Let them say, they have been saying But it’s the opposite the world is seeing ‘We would cripple the economy of Russia’ Inflation hit USA High energy price hit Europe Let them say Hypocrites 2 Likes |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by seunny4lif(m): 11:02am On Apr 23, 2022 |
sapientia:Moscow time is funded by USA or UK government Do the maths This your head must learn 1 Like 1 Share |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by ken6488(m): 11:06am On Apr 23, 2022 |
God1000:Cry me a river Sanctions will affect the dollar more 1 Like 1 Share |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by ken6488(m): 11:08am On Apr 23, 2022 |
sapientia: That's a big lie sanctions is affecting only the west, you think the world revolve around them .Russia has the backing of brics. The two world most popular nation India and China are strongly behind Russia The west should be scared 2 Likes |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by ken6488(m): 11:13am On Apr 23, 2022 |
What most western puppet does not understand Your country economy determines your currency power etc Guess what country the economy it is is energy By the time Russia divert all those cheap energy to China and Asia All those companies in Europe will start leaving 1 Like 1 Share |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by sapientia(m): 11:20am On Apr 23, 2022 |
ken6488: You need to buy new sense, coming to a thread of Russia central Bank stating the reality to vomit this trash seunny4lif: Not that I have ever rated you to have sense Its just that i never expected a single digit IQ Scroll down to see where someone with sense busted your lies |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by gambojimeta: 11:21am On Apr 23, 2022 |
ken6488: Indeed ken6488:Is that why minimum wage is around $200 per month in Russia? Nigeria is energy rich too. Must be why our naira is so powerful This poutins arse lickers eh. They are not the brightest bunch in Nairaland 1 Like
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Re: Central Bank Survey Says Russia's Economic Outlook Worsens by gambojimeta: 11:22am On Apr 23, 2022 |
seunny4lif:I smell lies 1 Like
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Re: Central Bank Survey Says Russia's Economic Outlook Worsens by Kelvin3476: 12:35pm On Apr 23, 2022 |
ken6488:UR MUMU MUCH ABEG. DO U THINK THE WEST DOESN'T DO FALS WITH INDIA AND CHINA ? DO U THINK ALL INDIAN AND CHINESSE COMPANIES ARE FREELY FUNCTIONING IN RUSSIA ? |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by seunny4lif(m): 12:57pm On Apr 23, 2022 |
gambojimeta:Go and read about the Moscow times abeg The only reason you see Russian names is because Russia law says any media outlets must be at least 30% controlled by Russians. Since 2022, Moscow times have been banned in Russia. |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by seunny4lif(m): 12:59pm On Apr 23, 2022 |
sapientia:Since u don’t have sense at all Do simple research |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by nannimbinde: 3:50pm On Jun 21, 2022 |
Actually, as a results of invasion that took place in ukraine, it can actually lead to unemployment and this can cause high rate of unemployment. |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by Bentizil: 4:10pm On Jun 21, 2022 |
I hope they haven't change mouth now... They need to tell us about the economic outlook of Western countries, I want to check something... |
Re: Central Bank Survey Says Russia's Economic Outlook Worsens by gambojimeta: 1:15am On Jun 22, 2022 |
The CEO of Russia's biggest commercial bank said a few days ago that it could take a decade for Russia to recover.
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