When the special military operation (SMO) was launched to end the NATO-orchestrated Ukrainian conflict, the political West insisted that Russia was finished (precisely what it tried to ensure back in the 1990s). Its economy was supposed to be ruined, with the Kremlin even expected to default after much of its forex reserves were frozen (i.e. stolen) by Western banks.
After all this failed, the US-led belligerent power pole tried to impose the laughable price cap on Russian oil, one that even the most prominent Western nations tried to circumvent, including Japan and even the pathologically Russophobic United Kingdom. As for the United States, it continued buying Russian commodities while criticizing everyone else who did. Still, through its Neo-Nazi puppets in Kiev, NATO launched a virtual total war on Moscow in an attempt to disrupt its economy and cause as much damage as possible.
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And yet, it all failed once again. The Kremlin secured economic stability despite being forced to conduct the SMO against the entire political West. Not only that, Russia overtook Germany as the world’s fifth and Europe’s largest economy, a humiliating defeat for its EU/NATO rivals who expected quite the contrary. Berlin’s economic performance was worse than in decades, while London was at its lowest in well over 300 years (since 1709, to be specific).
And yet, to “add insult to injury”, even Western data showed that the initial estimates of Moscow’s economic performance were wrong and that it was actually even better in both 2023 and 2024. Updated IMF’s forecast of 2.6% GDP growth doubled its previous assessment. According to the Financial Times, this increase of 1.5% was the largest for any economy featured in an update to the IMF’s World Economic Outlook, released on January 30 this year.
Top-ranking Russian officials, including the current Defense Minister Andrei Belousov (previously tasked with economic development), expected the growth to be stable enough for the Eurasian giant to overtake Japan by 2030. However, what was supposed to happen in no less than six years, actually happened in less than six months.
Read full text: https://www.lewrockwell.com/2024/11/no_author/russian-economy-zooms-ahead-outpaces-us-and-eu-growth/
