Russia’s GDP growth during wartime is misleading, driven by destructive spending.
Replacing Western goods with lower-quality imports hurts consumers.
Low unemployment is propped up by war salaries and subsidies.
Oil wealth discourages innovation in other sectors.
A post-war brain drain may leave the economy hollowed out.
Russia’s GDP growth during wartime is misleading, driven by destructive spending. Replacing Western goods with lower-quality imports hurts consumers. Low unemployment is propped up by war salaries and subsidies. Oil wealth discourages innovation in other sectors. A post-war brain drain may leave the economy hollowed out.