Russia Economy Thread

drowingfish

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This one is crazy, this guy calls for banning academic papers that studies the resilience of Russian economy because sanctions were supposed to work and they didn't...

I do find it remarkable that Russian economy has been more resilient than I thought. Russia public debt/GDP is only 25%, at times when it is suuposed to be spending lots of money hiring soldiers to the front. I wonder how Russia managed to do this...
 

pmc

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you have to consider so many people left Russia both migrants and domestic and than close to a million people will be some where floating around in Ukraine. and it still have this high consumption.
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Energy consumption in Russia increased by 4% due to regional economic growth​

this small population countries cannot maintain and estimate accurately.
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Mongolia imports electricity from Russia during peak hours​

ULAN BATOR, December 31. /TASS/. Mongolia has been importing electricity from Russia in recent years due to a shortage during peak loads, Mongolian Energy Minister Battogtokhyn Choijilsuren said during a visit to the Buuruljuut power plant, which supplies electricity to Ulaanbaatar, the country's capital.

"Mongolia's economy has been growing in recent years. On average, the load on the power grid increases by 12% in winter, and energy consumption by 7%. In recent years, we have been taking 345 MW of electricity from the Russian Federation during peak hours due to its shortage," said the head of the country's main energy agency.
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The minister said that Kazakhstan began to buy more electricity from Russia, answering a question about the impact of the time change on the growth of consumption​



They want cooperate with Iran in fundamental science.
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In an interview with TASS, Alexey Melnikov, managing partner of the IT holding Fplus, outlined his vision of the prospects for the development of the digital economy, paying special attention to support for startups, analyzing the impact of the key rate on the industry, and discussing potential timing for the entry of new domestic developments into the market. He also shared the company's plans for next year.

— The digital economy in Russia is now one of the most priority topics for discussion at forums, conferences and other large events. Tell us, in your opinion, what is this connected with and why? What role does the IT holding play in this?

— The level of digital technology development in Russia, without exaggeration, is second only to one country - China. I mean digital services in the broad sense of the word. China is ahead of us only because they are doing it more actively and systematically. For example, the Great Firewall of China began working earlier than ours. This is an illustration of the fact that they are at a slightly higher level of development.
When we talk about innovation, we mean fundamental science. Next year, we are planning to cooperate more closely with Iran. We want to know what they produce and develop. I mean not only physical production, but also the results of intellectual work.

And we too have no choice but to rely on our scientific schools, many of which have been built over centuries. We will definitely have our own special path of development as a country. We need to turn again to the fundamental science that we have preserved. The scientific schools created by Mendeleyev, Tsiolkovsky, Korolev, Sakharov are the basis of our innovations.


This is Putin talking about $10K tax exempt when business gives extra to employee for births. state benefits separate. Putin trying to compete with soft power. Previously Duma deputy said any age is fine for birth.
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updated 20 December 2024, 06:28

Putin proposed to exempt up to 1 million rubles of corporate payments to children from taxes​

The President noted that responsible business is already helping demographic policy

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She noted that girls under 18 are now advised to continue their pregnancy because “being young parents is great.”
 

gelgoog

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This one is crazy, this guy calls for banning academic papers that studies the resilience of Russian economy because sanctions were supposed to work and they didn't...

I do find it remarkable that Russian economy has been more resilient than I thought. Russia public debt/GDP is only 25%, at times when it is suuposed to be spending lots of money hiring soldiers to the front. I wonder how Russia managed to do this...
Russia prepared for the sanctions. They financed via their Industrial Development Fund with loans of rates of 5% and less any industrial company investment to bring production of former imported required components in-house. They have done this at least since 2014.
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Before that Russia did similar investments into agriculture. They used to import wheat and now they export it.

Russia is basically its own continent. They can be fully self-sufficient if necessary. The thing they need is technology imports, they have limited population, so they cannot do everything themselves. But China is right next door, a neighbour, and has all the tech they need.

As for government debt being low even with the war remember that most of the Russian MIC is state owned. Those weapons are produced by the state for its own use and thus aren't creating vast amounts of debt. The Russian state also used to charge a low flat income tax rate, they changed it to a progressive tax rate, and that generated the needed revenue.

That is not to say that all is peachy, there might still be technology developed in the West, that they won't be able to get for their own use. The civilian transport sector is still a mess, from automobiles, to trains, airplanes, boats. Most of it used to either be imported, or produced by in Russia with Western inputs.
 
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