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OSW Commentary |
| Iwona Wiśniewska
The sharp increase in wartime budget spending in 2024 has helped to sustain Russia’s high economic growth rates, particularly double-digit growth in manufacturing industries serving the military. However, the number of economic challenges…
OSW Commentary |
| Iwona Wiśniewska
On 21 November, the State Duma approved, at the third reading, the draft federal budget for 2025 and the general parameters of the 2026–27 budgets. Expenditure will increase for another consecutive year, primarily due to spending on…
OSW Report |
| Iwona Wiśniewska
As a result of Russia’s aggression against Ukraine, which has been ongoing since 2014, and the ensuing Western sanctions, Russia has reoriented its foreign trade towards the East. This is a permanent shift which stems from Russia’s…
OSW Commentary |
| Iwona Wiśniewska, Maciej Kalwasiński
Since December 2023, the US administration has been increasing its pressure on Russia’s financial sector and its foreign partners. This has made it progressively more difficult for the Russian Federation to pay for imported goods and…
OSW Commentary |
| Iwona Wiśniewska
Public funds became the most important lever of economic activity in the Russian Federation when it invaded Ukraine and due to Western sanctions. According to the Russian finance ministry’s estimates, the total value of budget support for…
OSW Commentary |
| Maria Domańska, Iwona Wiśniewska, Piotr Żochowski
Although Kremlin propaganda has attempted to present the occupied Donetsk, Luhansk, Kherson and Zaporizhzhia oblasts as permanent elements of the Russian Federation (RF), Russia’s policy towards them has been characterised by violence and…
OSW Commentary |
| Iwona Wiśniewska
The Kremlin has made further attempts in recent months to use the food market to intensify pressure on the West, primarily in order to ease the sanctions imposed on the Russian Federation. For example, Moscow is again threatening to pull…
OSW Commentary |
| Iwona Wiśniewska
Preliminary estimates by Rosstat indicate that in Q1 2023 Russia’s GDP decreased by 1.9% y/y, although earlier in its report the Central Bank of the Russian Federation (CBR) estimated the decrease at 2.3%.
OSW Commentary |
| Iwona Wiśniewska
Russia’s invasion of Ukraine and the sanctions that followed it have brought multi-billion losses to Russian big business. The magnitude of blows dealt to its main representatives has resulted in a shift in the business model they have…
OSW Commentary |
| Iwona Wiśniewska
Russia’s macroeconomic performance in 2022 confounded forecasts from one year ago, a few weeks after the invasion of Ukraine. However, in wartime conditions, indicators such as GDP do not accurately reflect the real state of the economy,…