Despite Western sanctions over the Ukraine war, Russia has transitioned from an upper-middle to a high-income economy, according to the World Bank's latest rankings. Factors such as increased military activity, a rebound in trade and construction, and growth in the financial sector contributed to this shift. Consequently, Russia's Atlas GNI per capita rose by 11.2%.

Despite sanctions by Western countries against Russia due to the Ukraine war, the country has become a high-income economy from an upper-middle income economy. In its latest rankings, the World Bank has promoted the Russian economy to the top income category.

  • yetAnotherUser@discuss.tchncs.deEnglish
    172·
    11 days ago

    That’s great for Russia. This means the sanctions can be expanded and kept indefinitely without any ill effect on the Russian population, which was the sole argument against sanctions.