Page 29 - RusRPTSept23

Ukraine will already have air support in the form of dozens of F-16s (we talked about the dangers of these aircraft here), and, probably, accurate and long-range missiles.
President Volodymyr Zelensky said on the eve that Ukraine is ready to fight for a long time, “minimizing casualties” following the model of Israel, will not transfer hostilities to Russian territory, because in this case it can “be left alone”, and should not count on the eternal unity of all partners.
2.10 Russian business and consumer confidence
Business confidence has made a remarkable recovery in recent months
after it collapsed to a low of -7.2 points in August last year following the start of the war. But since then as a wall of state military money hit the economy it has been gradually recovering.
The business confidence index went positive in January this year – a rare occurrence – to start the year at 1.9 and has remained at 4 points for June and July.
The outlook for the rest of the year remains unclear as while the economy is expected to grow by 2% analysts are warning the heavy spending by the state could drive up interest rates and the CBR has already been forced to put through a large 350bp hike in August to halt the collapse of the ruble that will weight on business in the second half of this year.
From a low of -31 points in the second quarter of 2022, just after the war began, consumer confidence has been improving since the end of last year, rising from -23 points in the last quarter of last year to -15 points in the second quarter.
Confidence has been lifted by the ongoing recovery of the Russian economy which is expected to grow by about 2% this year, and rising real and nominal salaries thanks to the tight labour market.
At the same time the shops have refilled with foreign-made products as traders find ways around the international sanctions and life has largely gone back to normal.
RUSSIA Country Report September 2023 www.intellinews.com