Economist Podcasts Oil and vodka: Russia’s resilient economy
Mar 31, 2022
After the invasion of Ukraine, Russia's economy demonstrates unexpected resilience despite harsh sanctions. The recovery of the ruble and the central bank's measures paint a complex picture for citizens and the government. The podcast also explores the rise of far-right politics in France, focusing on Eric Zemmour's polarizing campaign amid anti-Muslim sentiment. Meanwhile, Lebanon’s plastic surgeons thrive amidst economic turmoil, as cosmetic procedures become a sought-after norm, illustrating an intriguing juxtaposition of beauty and crisis.
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Russia's Economic Resilience
- Despite Western sanctions and business withdrawals, Russia's economy shows surprising resilience.
- This resilience challenges initial expectations of a swift economic collapse.
Market Stabilization
- Initial market chaos in Russia has subsided, with the ruble recovering and banking panic stopping.
- This stabilization contrasts with the dire predictions made immediately after the invasion.
Russia's Economic Tactics
- Russia employed both conventional and unconventional tactics to stabilize its economy.
- These include raising interest rates and restricting share sales to prevent further decline.