Japan and Great Britain entered recession in the second half of 2023, according to official statistics from the two countries. A decline in GDP at the end of last year was recorded in another G7 state - Germany.
One of the main reasons for the observed dynamics was the high level of inflation as a result of rising prices for energy resources. Experts partly explain this by the consequences of the restrictions imposed against Russia. While three G7 countries faced a decline, the Russian economy in 2023 managed to fully recover from sanctions losses.