Macroeconomic trends in Russia during the sanctions crisis

Abstract

2022 has been a year of unprecedented testing caused by anti-Russian sanctions. The article defines the main directions of anti-Russian sanctions. The main macroeconomic indicators affected by the sanctions are analyzed. Russian gross domestic product in 2022 decreased by 2,1 %. The structure of GDP is changing. The consumer price index rose by 11,94 %. This macroeconomic situation requires a stabilization economic policy. Economic recovery is possible thanks to monetary and fiscal policy, government programs to support the national economy, and the introduction of an import substitution policy.

Keywords

• anti-russian sanctions
• gross domestic product
• inflation
• consumer price index
• economic policy
• government programs to support the national economy
• import substitution policy