The country’s GDP grew 3.6 per cent last year amid demand for military goods and services
Russia's trade jumped by nearly 7% last year, while activities in the financial sector and construction grew by 6.6% and 3.6%, respectively.
This boosted Russia's real GDP — which is economic growth adjusted for inflation — by 3.6%.
Russia’s economy has defied sanctions in the two years since Moscow invaded Ukraine in February 2022 – so much so that the World Bank is now classifying Russia as a “high-income country”. On Monday, the World Bank announced it has upgraded Russia
from an upper-middle-income country to a high-income country, according to a report from the financial institution’s economists. “Economic activity in Russia was influenced by a large increase in military-related activity in 2023,” World Bank economists wrote in their report.
https://www.businessinsider.com/russia-econ...anctions-2024-7
https://www.scmp.com/news/world/russia-cent...n-economy-grows
