The Russian economy is much worse than it appears as Moscow’s data is a ‘collection of lies and distortions,’ economist says
By Filip De Mott, Business Insider
In the year since Russia launched its invasion of Ukraine, official statistics from Moscow indicate a resilient economy that’s largely withstood the impact of Western sanctions.
But independent economist Alexei Bayer said observers shouldn’t place too much faith in those numbers.
“Russian economic statistics are a collection of lies and distortions,” he wrote in the Jerusalem Post. “They are meant to convince people at home that their economy is chugging along despite the war, and people abroad that Western economic sanctions don’t work and therefore should be rescinded. Many international economists, including official organizations, have bought into this type of Russian propaganda.”