Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Pakistani army: 6 soldiers and 7 militants killed in clash near the Afghan border
Israeli media: Sirens sound in the settlement of Kerem Shalom in the Gaza envelope area
Afghan source to Al Mayadeen: We still believe in dialogue and prioritize diplomatic solutions with Pakistan; though we are ready for all possibilities.
Afghan source to Al Mayadeen: Pakistan purposely obstructed negotiations in Turkey by making unrealistic demands.
Al Mayadeen's correspondent: More than 70 martyrs in Israeli attacks on Gaza since dawn.
Death toll from latest Israeli strikes on Gaza rises to 30
Al Mayadeen's correspondent: Five killed in the Israeli bombing of a civilian vehicle on Al-Qassam Street in Khan Younis, south of the Gaza Strip
Hamas confirms that it has no connection to the shooting incident in Rafah and affirms its commitment to the ceasefire agreement
Al Mayadeen's correspondent: Two civilians were killed and four others, including a child and an infant, were injured in an Israeli bombing of a house belonging to the Al-Banna family in the al-Sabra neighborhood, south of Gaza City
Al Mayadeen's correspondent: An Israeli airstrike targets the vicinity of Al-Shifa Medical Complex, west of Gaza City

Russia's economy is outperforming Germany's: Report

  • By Al Mayadeen English
  • Source: Unherd
  • 7 Jul 2023 22:15
  • 1 Shares
3 Min Read

German outlet FAZ quotes a Russian expert at the Vienna Institute Vasily Astrov who named two reasons for Russia’s economic resurgence - the first being the war economy and the second being the rise in real wages.

  • x
  • Russian President Vladimir Putin speaks at the St Petersburg International Economic Forum on Friday (AFP)
    Russian President Vladimir Putin speaks at the St Petersburg International Economic Forum on Friday. (AFP)

According to Unherd, the Russian economy is outperforming Germany’s, especially given the country’s GDP growth.

Russian Prime Minister Mikhail Mishustin provided Vladimir Putin with an economic update that estimated a 2% growth this year. With that being said, the effect of the Western sanctions on Moscow has been a short-lived dream and nothing but ineffective.

Although the 2% figure is at the upper end of forecasts, Reuters polled a number of economists who formulated a consensus of 1.3% in growth while the IMF registered 0.7%. The Vienna Institute for International Economic Studies, specializing in Central and Eastern Europe, recorded 1%.

Amid financial deals with Central Asia, China, India, and Iran, Russia has succeeded in reviving its economy and averting the sanctions. Meanwhile, most of Europe is registering a nearing recession since many of them are dependent on the German economy which has been on a decline. 

Even the German government's senior economic aide warned back in December that the inflation in Germany is likely to remain high until the end of 2024 as the country's companies spill their rising costs onto customers.

Related News

Russia will negotiate with Trump based on Russian interests: Kremlin

FSB arrests suspected Kiev collaborator in Stavropol bomb plot

Unrealistic expectations

German outlet FAZ quoted a Russian expert at the Vienna Institute Vasily Astrov who named two reasons for Russia’s economic resurgence - the first being the war economy and the second being the rise in real wages.

On the other hand, real wages are declining due to high inflation, while in Russia, inflation is falling, from 14% at its highest last year to under 5%, according to Unherd.

Read more: Germany: Imports from Russia increased by 32.6% in 2022

While all that is good, Russia’s biggest weakness at the moment is liquidity, since the country suffered a loss of oil and gas revenues which will result in a budget deficit. Russia estimates that deficit to be 2% of GDP. However, the Vienna Institute is forecasting 3.5%.

Since last year, commentators continue to claim that Putin will literally run out of money by next year, and military forecasts continued to agree based on unrealistic predicted expectations about the level of Western support. 

It is worth noting that the war in Ukraine itself cost Germany $106.7 billion by February this year. The President of the German Institute for Economic Research (DIW Berlin) Marcel Fratzscher said in February that "the Ukraine war and the associated explosion in energy prices cost Germany almost 2.5 percent, or 100 billion euros in economic output in 2022," adding that costs will continue to accumulate in the coming years.

  • Russia
  • Germany
  • Ukraine
  • Vladimir Putin

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025
What Marr evidently didn't seem to understand was that Hedges isn't saying that Western journalists manipulate the truth, but that they systematically amplify Israeli narratives they know are false. (Al Mayadeen English; Illustrated by Batoul Chamas)

Western journalists know they have a case to answer for their betrayal of Gaza, and it frightens them

  • Opinion
  • 24 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Saudi's PIF refocuses on AI, logistics, and religious tourism
Economy

Saudi Arabia's fund refocuses on AI, logistics, and religious tourism

Detained Bahraini activist al-Khawaja starts new hunger strike.
Politics

Detained Bahraini activist al-Khawaja starts new hunger strike

Israel fortifies Gaza’s "yellow line," prepares to dig in.
Politics

'Israel' fortifies Gaza’s 'yellow line,' prepares to dig in: WSJ

President Donald Trump speaks to reporters aboard Air Force One as he travels from Tokyo, Japan, to South Korea, on October 29, 2025. (AP Photo/Mark Schiefelbein)
Asia

Trump’s weak dollar strategy risks global fallout: Forbes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS