A leaked study earlier this month from Russia’s Finance Ministry warned that the country could see GDP fall by 12 per cent this year, after 4.7 per cent growth in 2021. The latest prognosis from within Russia, if confirmed, is even more pessimistic than earlier forecast downgrades. The IMF had already revised its estimates sharply down in late April , by a whopping 11.3 per cent from the January 2022 forecast. And 2023 was revised downwards by 4.4 per cent, taking that year into negative territory too. The Russian analysis supports the view that the sanctions are biting. The IMF GDP calculation was based on the ... (full story)