Despite Western sanctions imposed as part of Russia’s invasion of Ukraine, Russians are optimistic about the local economic situation, according to a new Gallup poll.
More than two-fifths of Russians (44%) surveyed in August-November last year said their local economic situation was improving, while 29% said it was deteriorating.
A Gallup poll showed that the proportion of Russians satisfied with their standard of living rose 15 percentage points last year to 57%.
Moreover, two-thirds of Russians (66%) approved of the actions of the country’s leaders in 2022, up from 50% a year earlier.
“Russians’ relatively optimistic outlook for the economy is striking, given the events of 2022 and the associated economic uncertainty,” said Gallup analyst Benedikt Weigers.
Many Western countries have imposed or extended economic sanctions against Russia, targeting its financial system, oil and gas exports and thousands of oligarchs. Some major international brands have left the Russian market.
As a result, the World Bank, IMF and OECD have predicted a decline in Russia’s GDP of 2-4% in 2022.
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