Economy
Economics: growth instead of collapse - why did GDP give a plus?
05.08.2023
Despite external pressure, sanctions and difficulties, 2023 ended better than expected for the Russian economy. At the end of the year, the GDP forecast showed growth - the authorities stated that the result would exceed expectations.
The drivers were manufacturing, construction and agriculture - sectors focused on domestic demand. Plus - consumer activity, despite rising prices and loans. This gave the authorities a reason to declare that an “economic apocalypse” had been avoided.
However, the growth was accompanied by rising inflation, declining purchasing power among parts of the population, and increasing inequality. Those who depended on the stable operation of small businesses or foreign trade contracts fared much worse than large players focused on government orders.
August became a symbol of economic stability—not grace, but stability. A year in which the economy did not collapse, but the quality of life of many deteriorated - and this became the new reality.