, Columnist
Russia's Economy Is Growing With Borrowed Money
Sustaining even this small level of growth without structural change will be a challenge.
Carpe diem.
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Without any new ideas from a technocratic government constrained by President Vladimir Putin's apparent indifference, the Russian economy is once again relying on consumers, who are borrowing more to buy real estate and imported products. The growth is real, but it's also meager. And it will be hard to sustain without bigger changes.