Macro Analysis /
Russia

Macro Insights: Russia’s 2022 outlook: A bumpy year ahead

  • The agenda for 2022 is fully dominated by concerns over financial risks

  • Russia posted strong 4.6% y/y GDP growth in 9M21 backed by robust external demand

  • Inflation reached 8.1% y/y in October 2021, some 50-70% of its annual acceleration attributable to external factors

Natalia Orlova
Natalia Orlova

Chief Economist

Alfa
3 December 2021
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