Financial Times Notes Success of Russian Economy Under Sanctions
OREANDA-NEWS. The international business edition Financial Times writes, citing conclusion of experts, that the Russian economy, which was in crisis several years ago due to Western sanctions, nowadays is more stable than ever in many respects.
According to specialists, thanks to a reasonable financial policy, Russia managed to achieve stable economic development and create the National Wealth Fund in the amount of 124 billion US dollars.
Experts believe that Russia responded to Western sanctions by focusing efforts in three key areas: firstly, government spending was reduced; secondly, trillions of rubles were spent on import substitution programs; and thirdly, spending of huge profits from the sale of oil and gas was revised.
As a result, analysts conclude that Moscow should be more afraid of lifting sanctions than imposing new ones.
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