The United States officially recognized the Russian economy as non-market

11 ноября 2022, 06:25

The United States Department of Commerce said that due to the "widespread intervention" of the Russian government in the national economy, it can no longer be considered a market economy for the United States. This status was assigned to the Russian economy in 2002.

"This decision gives the United States the opportunity to use the full force of US anti-dumping laws to address market distortions caused by the Russian government's increasing interference in their economy," Reuters said in a statement.

Russia will be considered by US financial institutions as a country with a non-market economic model. Recall that, to a certain extent, due to the presence of this status, Russia joined the World Trade Organization in 2012.

The day before, the head of the Central Bank, Elvira Nabiullina, in response to a question about whether the Russian economy has passed the bottom or is expected to further decline, said that she "does not like to look for the bottom." The Central Bank of the Russian Federation has improved the forecast for the Russian economy, but admits that reality could worsen it. The decline in GDP in 2022, according to the updated baseline forecast of the Central Bank, will be 3-3.5% against 4-6% expected in the summer, but the economic recovery from sanctions shocks is being postponed - the bottom point of the decline in GDP will now fall on mid-2023 (and not on end of 2022, asexpected in the spring).