How Russia became a high-income nation while fighting a war

Jul 14, 2024 | 18:46 IST

Russia may have risen to a high-income country in a recent World Bank report, but it doesn’t necessarily mean the Russian economy is doing better due to the war

In a recent World Bank report that classified countries from low to high income there was a surprise mover: Russia. Despite waging a war with no end in sight and sanctions against trade, the European giant made the transition from the upper-middle-income to high-income category.

Russia has been facing sanctions from the US and partner nations that are intended to cripple trade with other nations. Many multinational giants exited the country when the war began. But despite that the country’s economy has bounced back since the 2022 invasion of Ukraine began.

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How Russia became a high-income nation while fighting a war

Russia may have risen to a high-income country in a recent World Bank report, but it doesn’t necessarily mean the Russian economy is doing better due to the war

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TOI

How Russia became a high-income nation while fighting a war

Russia may have risen to a high-income country in a recent World Bank report, but it doesn’t necessarily mean the Russian economy is doing better due to the war

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