The Russian economy is much worse than it appears as Moscow's data is a 'collection of lies and distortions,' economist says

• Russia's economic data is full of 'lies and distortions,' economist Alexei Bayer wrote.
• Official stats from Moscow that show a resilient economy are more akin to propaganda, he added.
• Consumer inflation should be at least 30% versus of the official rate of 11% in February.

In the year since Russia launched its invasion of Ukraine, official statistics from Moscow indicate a resilient economy that's largely withstood the impact of Western sanctions.

But independent economist Alexei Bayer said observers shouldn't place too much faith in those numbers.