Director of the Expert RA rating agency Marina Chekurova revealed the biggest risk for the Russian economy, which is global recession and slowdown in business activity, RIA Novosti reports.
Even with a relatively slight decline, Russian exports will reduce significantly, the head of the analytical department at AMarkets Artem Deev stresses. This indicator is already below the historic low of 2022. As a result, we will see deferred demand grow and that will affect both manufacturers, retailers and consumers. While the Russian economy has already accustomed to the risks of 2022, the expert warns that it will take much more time and effort to adapt to a global recession, even in its mild variant.
“Subsequently, if the recession follows a more severe scenario, consequences may be even worse. Since nominally, the euro zone economy entered recession in Q1 2023 (and in reality, at the end of 2022), I see the probability of a global recession as quite significant,” the analyst concludes.