Opinion: The West underestimated the ability of the Russian economy to adapt

According to the economist Oleg Kuzmin, a well-known economist in Russian expert circles, the West seems to have underestimated the adaptability of the domestic economy to shock conditions. RIA Novosti informs about this today, March 24.

The expert is sure that the Russian economy has also demonstrated tremendous vitality.

"After all, few people believed, or rather no one believed, that the Russian economy would be so mobile. At the first stages of the shock, the majority, due to Western pressure, predicted it, if not a complete collapse, then a critical reduction in GDP growth, a significant weakening of the ruble, and high inflation," Kuzmin is sure.

"But there was no collapse. The West underestimated the degree of adaptability of the Russian economy to the shock," the expert added.

Plus, according to Oleg Kuzmin, "our economy has demonstrated tremendous vitality that no one could have imagined ... due to the fact that over the past years it has become a market economy (if it were regulated, as in the USSR, it would be much more difficult to do this). Thanks to the competent policy of the authorities, the Ministry of Finance, the Central Bank."