The pace of Russia’s economic growth slowed in the second quarter of 2024, official data showed Friday, amid concerns over stubborn inflation and warnings of “overheating.”
Gross domestic product (GDP) dipped from 5.4% in the first quarter to 4% from April to June, the lowest quarterly result since the start of 2023 but still a sign the economy is expanding.
Inflation meanwhile showed no signs of easing, with consumer prices rising 9.13% year-on-year in July — up from 8.59% in June and the highest figure since February 2023, according to data from the Rosstat statistics agency.
I don’t think it’ll be a century.
Look at Czechia, they’re booming after being stuck under the thumb of the Nazis who destroyed most of their non-war industrial output, then the Soviets who destroyed the rest. Since 1992, they’ve put in the hard yards, kick started their economy and industry and fully rejoined the west as a good friend.
It’ll be another ~25 years after they finally decide to join us before they’re back in a good position, but that’s within the lifetimes of the people who could make that choice. They could not only choose, but see the positive outcome of those choices if they started today.
Czechia has massively benefitted from the structural funds of the EU, Russia might not have that option…