While facing severe sanctions and repression, RussiaEconomyIn the first quarter of this year there was 18% year-on-year contraction. However, in the second quarterThe rate of economic growthQuickly climbed to 49%, which significantly boosted the confidence of the Russian authorities. Due toEconomyThe performance exceeded expectations, and the Russian side once again raised it for 2023EconomyThe growth target was raised to 35%。This article will explain the reasons why Russia has once again raised its GDP growth target and analyze its impact on RussiaEconomyThe impact of future developments.
RussiaEconomyIn the third quarter of this year, it again exceeded expectationsEconomyYear-over-year growth rateReached 55%。Among them, the construction industry increased by 10% year-on-year, and the manufacturing industry increased by 9% year-on-year9%。Steel production increased by 5 percent year-on-year3%, the output of general machinery and equipment increased by about 10%, and the output of automobiles increased by more than 10%. These data show RussiaEconomyDiversification is being achieved and the status of the manufacturing industry is being improved. According to statistics, the first three quarters of RussiaEconomyYear-over-year growth ratehas reached 3% with RussiaEconomyThe Department of Development** is consistent with its full-year growth target. Expected in the fourth quarterThe rate of economic growthwill be more than 4%.
EconomyScholars generally agree that war is rightEconomyThe destruction is mainly reflected in the destruction of arable land, the displacement of residents and the inability to engage in farming, as well as the bombing of cities, the collapse of factories, and the inability of enterprises to produce normally. However, if the war does not take place on the mainland, farmers can work normally, and business orders continue to produce, the economic impact of the war will be weakened. In addition, the war can also lead to the development of defense-related industries, such as clothing, footwear and socks, steel, machinery, electronics and other industries orders sharply. What's more, thisEconomyDevelopment will also lead to the development of more enterprises, increase the employment rate and income level of residents, and stimulate the consumer market.
Russia is deeply dependent on severe sanctions from the United States and Western countriesOiland the drawbacks of gas. Therefore, Russia ** actively pushesIndustrial transformationand upgrading, working towards a more diversified development direction. In the first three quarters of this year, RussiaEconomyThe structure is more diversified, and the status of the manufacturing industry is constantly improving. However, the energy industry is due toOilProduction was reduced and there was 18% reduction. This shift made RussiaEconomyMore robust and stable, lightened pairsOiland natural gas.
The Russian side is interested in 2023EconomyMultiple upward revisions to growth targets mean RussiaEconomyIt is gradually recovering and has achieved excellent growth in the face of adversity. These adjustments reflect the **for:EconomyOptimism about the situation and confidence in the future. EconomyThe increase in the growth target will give Russia a further boostEconomydevelopment, prompting more investment and innovation, improvingResident incomelevel, to strengthen the vitality of the domestic consumer market. At the same time, it will also help Russia to reduce its dependence on foreign investment and improve the country'sEconomyIndependence.
From the above analysis, we can see RussiaEconomyIn the face of severe sanctions and repression, unexpected growth has been achieved. All this is thanks to the active measures taken by Russia **, including strengtheningIndustrial transformationand upgrades, improvementsEconomyThe degree of diversity. RussianEconomySeveral upward revisions to growth targets indicate RussiaEconomyIt is gradually coming out of the predicament, showing strong resilience and development potential. withEconomyWith the diversification of structures and the gradual growth of the domestic market, Russia will be able to further improve its ownEconomystrength andInternationalCompetitiveness.