Review of the current state of the economic situation in Russia, 1990–2023

The article presents a comprehensive analysis of the current state of the Russian economy, covering the period from 1990 to 2024. The main focus is on key macroeconomic indicators, including the dynamics of gross domestic product (GDP), inflation, unemployment, foreign trade turnover and investment activity. Special emphasis is placed on the study of the impact of international sanctions on the Russian economy, which resulted in a reorientation of the country's foreign economic relations. This process is characterized by a shift in focus from traditional European markets to Asian, Middle Eastern, and other alternative destinations, which entails significant changes in logistical, financial, and institutional arrangements. Special attention is paid to the role of government spending, especially in the military-industrial complex, which has become a key driver of maintaining economic growth in the face of external pressure. The authors identify the main challenges facing the Russian economy. Among them, there is a steady dependence on commodity exports, technological lag in a number of knowledge-intensive industries, as well as demographic problems, which creates restrictions on potential growth. The work is particularly valuable for a detailed analysis of the commodity and geographical structure of foreign trade, which shows a reduction in the share of European partners while rapidly increasing dependence on the Chinese market for both exports of raw materials and imports of high-tech products, machinery and equipment. The methodological basis of the study is based on data from the Federal State Statistics Service (Rosstat), reports from the World Bank, the United Nations Conference on Trade and Development (UNCTAD) and other international organizations. Based on them, not only a retrospective assessment is carried out, but also a forecast of Russia's socio-economic development for the medium term (20252026) is formed. The forecast contains estimates of the growth rate of GDP and employment dynamics. The study highlights the importance of economic diversification, technological modernization based on import substitution policy and improvement of the investment climate to ensure sustainable development in the long term. It is noted that further growth is impossible without solving structural problems, including the development of human capital, increasing labor productivity and creating conditions for technological modernization. The article is of considerable interest to researchers and analysts who deal with the problems of the modern Russian economy and its integration into the changing structure of global economic relations. The authors declare no conflicts of interests.

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