I think the economy is going nowhere. It will be stagnant as long as this situation continues. I don't think Putin will choose anything else. Russia has not had real economic growth since 2009. There has been an average growth rate of about a half of a per cent per year. This is a miserable situation. You can see all forecasts now suggest 1.5% per year, going forward. I suspect that they are even too high. There are absolutely no reforms even being discussed in Moscow today. They think they can devote a bit of extra money to investment. They don't have this money. Western sanctions have tied up money.
During the last four years, the real disposable income of the population has fallen by a total of 17%. Investment has fallen. You can't develop an economy like that. The question is: How long can the Russian people take it?
I lived in Moscow as a Swedish diplomat from 1984 to 1987, and the atmosphere in Moscow now is very much the same. People do nice things, like culture. They don't think about discussing the economy, because they see there is nothing they can accomplish.