Negative impacts of the global economic system on the Russian economy in 2022 and their impact on the dynamics of the main macroeconomic indicators

Abstract

The article examines the theoretical aspects of the policy of economic sanctions, their negative impact on the Russian economy in 2022 and the impact on the dynamics of the main macroeconomic indicators. Goal. Try to estimate at least approximately the scale of the negative impact on the Russian economy of the economic sanctions imposed against Russia in 2022. Objectives. Analysis of the impact of economic sanctions on the main macroeconomic indicators, such as: GDP and its sectoral structure, investments in fixed assets, consumer prices, labor market, household incomes, public finances and others. Methodology. The methods of system analysis, classification and comparison, evolutionary-institutional theory and historical approach were applied in the course of the study. Results. The negative effects of the economic sanctions of the countries of Europe, North America and a number of others were relayed to the Russian economy in the form of a decrease in production volumes in its certain sectors, a general decline in GDP, a slowdown in investment activity, an increase in the price level and, as a consequence, a drop in real incomes of the population, as well as a decrease in federal budget revenues. Among the positive trends that weaken the negative effect of foreign sanctions, it is worth noting the continued growth in the volume of investments in fixed assets (albeit at a gradually slowing pace) and a decrease in the unemployment rate. Conclusions. The main problem is the fact that the Russian economy is becoming more and more oil and gas oriented. This trend is very dangerous, as it makes the country dependent on the oil price situation and the key players influencing it. The strengthening of the oil and gas model of the development of the Russian economy may lead to a complete loss of the ability to pursue an independent (sovereign) economic policy.