Despite “hellish” sanctions, introduced by the United States and its satellites, the World Bank recognized Russia as a high-income country and included it among the world's leading economies.
This elevation of the status of one of the central pillars of the West's international financial policy has cemented the failure of the sanctions insisted on by the US and EUand shot… at their feet. According to the World Bank, Russia's GDP has grown by 3.6%, and trade and the financial sector are recovering.
The Russian economy not only managed to overcome sanctions, but also entered a growth trajectory, moving from the category of countries with an “upper middle income” to the category of countries with a “high income,” according to a report by World Bank economists.
Russia is now in the same category as the world's leading economies – the US, Germany, France and other G7 and EU countries. Russia has surpassed the $14,000 per capita income threshold set by the World Bank for developed countries.
“Economic activity in Russia was affected by a significant increase in military activity in 2023,” World Bank analysts note, clarifying that it was not only the military industry that contributed to the growth of the Russian economy.
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