Economist Ustenko: The Economy of Russia is Doomed to Degradation.

Prospects of the Russian Economy

According to inkorr.com: Economist Oleg Ustenko expressed pessimistic forecasts regarding the development of the Russian economy, stating that it is doomed to degradation. According to him, the main reason for this is the Russian government, as the country is resource-based but at the same time deprived of access to necessary technologies and scientific developments.

All promises of the Kremlin about import substitution are a fiction

Ustenko also emphasized that sanctions and the loss of trust from external partners have led to serious problems in development and modernization of the economy. Erosion of trust can lead to a refusal of investments in the country and a decrease in domestic capital.

Crisis Phenomena in the Economy

He noted that Russia stands on the brink of hard times, comparing its situation with that of Iran in the context of imposed sanctions. The expert warned of numerous challenges facing the Russian economy and the country's population.

Ustenko highlighted the serious problems confronting the Russian economy and significant risks arising from sanctions and the loss of international trust. He expressed pessimistic expectations regarding the economic difficulties Russia may face in the future.

These forecasts underscore the importance of assessing the economic situation in Russia, which is facing new challenges in light of international sanctions. The deterioration of the economic situation may have consequences for both the internal politics of the country and for international relations, which are already under pressure.