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2022 Russian Rubles Crash - The Economist: Russia's economy is back on its feet

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The Economist = Menu Weekly edition Q Search v Finance & economics | 'Tis but a flesh wound Russia's economy is back on its feet A recession looms, but perhaps not a big one Getty Images May 7th 2022 < Share N EARLY APRIL we pointed to preliminary evidence that the Russian economy I was defying predictions of collapse, even as Western countries introduced unprecedented sanctions. Recent data further support this view. Helped along by capital controls and high interest rates, before Russia's invasion of Ukraine in late February (see top chart). Russia rouble is now as valuable as it was appears to be keeping up with payments of its foreign-currency bonds. The real economy is surprisingly resilient too. True, Russian consumer prices have risen by more than 10% since the beginning of the year, as the rouble's initial depreciation made imports more expensive and many Western companies

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