Russian economy accelerates

Russian economy accelerates 5

Russian economy accelerates

On April 1, S&P Global released Russia’s Purchasing Managers’ Index (PMI), showing that the manufacturing industry here continues to recover.

Rising domestic demand helps Russian manufacturing industry revive.

On April 1, the Russian Central Bank also announced the minutes of its March policy meeting. In it, the agency commented that the economy accelerated in the first months of the year.

Commodity prices and exports recovered, which is the main source of revenue for the Kremlin as the fighting continues.

Officials said they were surprised to see vibrant consumption, thanks to rising household income and loans.

Customers buy things at a market in St.

The Central Bank of Russia believes that investment growth and the financial situation of the country’s largest business group are stable.

Last month, this bank kept interest rates unchanged at 16%, to limit inflation risks.

Russia is currently the world’s leading oil producer.

Recently, the US has tightened control over the implementation of price ceilings for Russian oil and oil products.

However, recent figures show that Russia has minimized the impact of sanctions.

On April 1, Russian news agency TASS said that Russian President Vladimir Putin directed the government to ensure that the country reaches the top 4 largest economies in the world, calculated by GDP at purchasing power parity (PPP), at the latest.

Last year, Russia’s GDP grew by 3.6%, higher than many Western countries.

Despite many positive developments, Russia still faces the risk of reduced foreign investment.

Some Russian oil refineries are partially or completely closed due to attack by Ukraine.

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