Kudrin has estimated the damage of Russia from Western sanctions 1.5% of GDP


Moscow. November 21. Russia’s GDP was 1.5% higher in the absence of sanctions, the positive effect is not seen in any industry, said the ex-Minister of Finance of the Russian Federation, the head of Committee of civil initiatives Alexei Kudrin.

“The sanctions have greatly complicated the situation in the country. GDP is 1.5% lower than it would be without them. The devaluation that happened, half with oil, half with sanctions,” Kudrin told journalists on Saturday.

According to him, in some industries, taking into account the devaluation they could help, but so far “the results are either absent or are in their infancy”.

“According to military, arms production has already occurred for some import substitution, – said Kudrin. But I don’t see it, it is not reflected in the figures of the economy. In other industries this is not happening, even in agriculture.”

In agriculture, the lack of development is due to other reasons, including the difficulty of access to loans and regulation, however, the positive effect of the sanctions is currently not visible in any sphere, added the former Minister.