Even as Ukrainian advances in the Kursk region pierce Russia’s aura of military invincibility, resurgent cynics have painted an unrealistically optimistic picture of a supposedly resilient Russian economy despite sanctions and the exit of over 1,000 global multinational corporations.
This misleading narrative attributes Russia's apparent economic continuity to aggressive government spending and efforts to shield the population from restrictive monetary policies through extreme fiscal stimulus. However, this rosy outlook is fundamentally flawed, except for one crucial observation: Russia is indeed engaged in unsustainable spending practices.
