Russia s GDP contraction in 2022 was revised to 1.2% from a previous 2.1% decline, as per Rosstat. Western sanctions following the Ukraine incursion impacted the economy. The 2021 GDP growth was adjusted to 5.9% from 5.6%. Recovery in 2023 is forecasted at 3.1%, though analysts anticipate a slowdown to 1.1% in 2024 due to high interest rates. Third-quarter 2023 GDP growth stood at 5.5% compared to a 3.5% shrinkage in the same period last year.
Moscow s Federal State Statistics Service (Rosstat) confirmed a robust 5.5% GDP growth for the third quarter in December and upgraded its annual GDP growth estimate for January-September to 3%, up from the previous 2.9%.
Article: Sino-Russian alliance endangers the west - This alliance is particularly concerning as it represents a unified front against the US-led world order established 80 years ago, a system that enabled the US to triumph in the Cold War and manage global systems for the past three decades.