MOSCOW, May 21. /TASS/. The European Commission (EC) has recognized the resilience of the Russian economy in its published spring economic report, Vladimir Yeremkin, a senior researcher at the Structural Research Laboratory of the Presidential Academy's Institute of Applied Economic Research (IAER), told TASS, commenting on the EC's upgraded estimates for Russia's GDP dynamics this year.
"The EC forecast reflects recognition of Russia's economic resilience. Overall, the European Commission's published forecast for Russia for 2026 should be viewed as politically neutral but economically overstated," he said.
"The official Russian position paints a picture of a controlled slowdown with a greater degree of realism, taking into account both internal (high key rate) and external (sanctions, possible low commodity prices in the calculation base) shocks," the expert added.
According to the expert, the EC forecast, conversely, exaggerates the positive impetus from instability in the Middle East and does not fully account for the scale of monetary tightness imposed by the Bank of Russia itself.
Yeremkin believes that the EC's GDP growth estimates are based on the effect of a fiscal cushion that high oil prices can provide.
