Reoriented Trade Ties & Galvanized Resources Helped Russia Weather Sanctions Challenges, Experts Say

On January 10, the World Bank amended its 2023 global economy growth outlook to 1.7 percent for 2023 from its earlier projection of 3 percent amid soaring inflation and subdued investment. Output in Russia was projected to decline not by 3.6 percent, as previously forecast, but by 3.3 percent, with growth set to resume to 1.6 percent a year on.