Russia-2022: Macro Stability to Be Prioritized

... strong gains if it were not for the escalation in geopolitical risks associated with Russia’s stand-off with Ukraine The “black swans” of 2022 could come from the geopolitical domain, but also emerge on the back of such systemic vulnerabilities in ... ... in the tax regime. Nevertheless, there may be important drivers for Russia’s markets in the coming year, with the overall macroeconomic backdrop expected to demonstrate decent growth and inflation declining starting from the second quarter. On the ...