JRL NEWSWATCH: “As Europe falls into recession, Russia climbs out; Real-time data show a subdued but strengthening economy” – The Economist
“Western sanctions … have wounded Russia’s long-term economic prospects. … cut[ting] its growth potential by as much as half …. Output of oil and gas … is about 3% lower than … before the invasion and may fall further once European embargoes come into effect …. In the first six months of the war somewhere in the region of 250,000 to 500,000 Russians [reportedly] fled the country …. [including many] highly educated and well paid [individuals] … Putin’s recent … partial mobilisation has dealt a further economic blow. … By our estimates Russians pulled out $14bn-worth of rouble deposits in September, about a third as much as in February. Another 300,000 or so Russians … probably fled. … [W]orsening worker shortages[] compound[] Russia’s inflation problem. … [Yet] [i]n its … [Oct. 11] forecasts … the [IMF] upgraded Russia’s economic prospects … now expect[ing] a decline of 3.4%. …”