Russia's economy is expected to grow by 2.6% in 2024 according to the IMF. The epicenter of growth lies in industry.
The state has invested heavily in the military-industrial complex. Russia has replaced Western high-tech and consumer products by also turning to China or other Asian countries, while combining its supplies with unauthorized imports via various intermediaries. The financial sanctions themselves had only a limited impact: the amount of frozen assets of the Central Bank of the Russian Federation is the same as Russia's trade surplus in 2022.