© Sputnik/Vladimir Astapkovich
The country’s GDP in PPP terms is outperforming that of Germany, according to World Economics
Russia was among the world’s five largest economies and the largest in Europe in terms of purchasing power parity (PPP) as of the end of 2022, despite Western sanctions, the latest World Economics report has revealed.
According to estimates based on official country data published by the World Bank and the IMF, Russia’s gross domestic product was $5.51 trillion in PPP terms at the end of last year. The figure is 38% larger than the official estimate of $3.993 trillion, the report noted.
It also showed that the Russian economy was ahead of Germany’s when measured in purchasing-power parity, with the latter’s GDP at $5 trillion.
Read more ….
WNU Editor: Some in the West are speculating that this is a bubble …. A Spending Boom Fuels Russia’s Wartime Economy, Raising Bubble Fears (Mew York Times). In certain areas maybe, but overall I see this economic boom continuing even after the war is over.
The world does not only need Russia natural resources, but it is dependent on it. Sanctions have put a break on the Russian economy, but on the plus side hundreds of billions of dollars no longer leave Russia each year. There is also the expectation that when the war is eventually over the lifting of sanctions will follow, and when that happens the economic expansion that will then follow will be massive.