A Yale study found that Russia's economy is collapsing due to sanctions.
The study is different from the Kremlin's releases.
According to the Yale authors, the Kremlin has a history of faking economic statistics.
Russia's economy is collapsing because of international sanctions and a corporate exodus, according to a Yale University analysis. The author of the analysis was a professor at the Yale School of Management.
Russia's economy has been shown to be holding up better than expected by studies. Many of those analyses, forecasts, and projections draw from Russian government economic releases, which are becoming "increasingly cherry-picked," according to the Yale team. The Kremlin has a history of changing official economic statistics.
Russia's economy isreeling and has not rebounded. Private Russian-language data sources and high-frequency consumer data were used.
Business retreats and sanctions cripple the Russian economy according to the authors.
The Kremlin has been flooding the economy with "artificial liquidity" and has caused the ruble to fall.
The corporate exodus out of Russia has reversed 30 years worth of foreign investment, as foreign companies accounted for 40% of the country's GDP.
"Putin is resorting to patently unsustainable, dramatic fiscal and monetary intervention to smooth over these structural economic weaknesses, which has already sent his government budget into deficit for the first time in years and drained his foreign reserves even with high energy prices."
The Russian finance minister said in April that the country would use its rainy-day fund to cover the deficit. The move points to a Kremlin that is running out of money.
"Defeatist headlines arguing that Russia's economy has bounced back are simply not factual - the facts are that the Russian economy is reeling and now."
Business Insider has an article on it.
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