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this post was submitted on 12 Nov 2024
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Is this entirely post-SMO?
Not entirely since Russia was preparing for the SMO since 2014. However, the break with the west really spurred domestic industry. Two big reasons for that were that a lot of western companies left which created domestic niches, and second was the west effectively doing capital controls for Russia making it hard for people to move out their capital.
The narrative in the west has been that the bump in industrial production was solely due t military industry ramping up. However, that accounts for only 9% of the GDP or so right now. Most of the new economic activity has been in civil industry.