Russia defies predictions of collapse – media ...News

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Russia defies predictions of collapse – media
source : Russia Today ( News ) () 17
Oil revenue contributed to “surprisingly resilient” economy, says the British weekly The Economist The Russian economy has largely shrugged off “unprecedented sanctions” from the West, The Economist noted, crediting the sharp rise in revenues from oil and gas exports. Russian consumer spending is up again, interest rates are going down, and the ruble is stronger than before the conflict in Ukraine escalated. “Russia’s economy is back on its feet,” the British weekly pointed out on Friday, adding that it was “defying predictions of collapse” as a result of embargoes imposed by the US and its allies. The ruble is no

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