Effect of sanctions on Russia for the moment lower than expected, the International Monetary Fund adjusts forecasts

The sanctions that the international community has announced against Russia in response to the war in Ukraine have had less effect on the country’s economy than initially thought. In the summer, the fund estimated a 6% contraction for Russia this year. But now mathematicians think the economic decline this year will be limited to 3.4 percent. Less than 3.5 percent was initially expected for next year. This has now been adjusted for a 2.3% contraction.