Crisis genre: the Russian economy is successfully recovering from crises, but is hardly growing in the long term
In the third quarter, the Russian economy grew by 5.5% in annual terms, after 4.9% in the second. In both cases, this is a recovery from the 2022 lows. Over the past ten years, such high dynamics have been observed only at the peak of post-pandemic recovery. Moreover, if at the end of 2021 the economy showed no signs of overheating, then in 2023 inflationary pressure forced the Central Bank to sharply increase the key rate.