The country has a healthy level of state debt and inflation, according to the president © Getty Images / Kremlin Pool
Russia is in better economic shape than many large Western nations in terms of inflation and the level of sovereign debt, President Vladimir Putin said on Thursday.
During a working meeting with Economy Minister Maksim Reshetnikov, Putin noted that Russia’s state debt is only a fraction of its gross domestic product.
“It’s 121.7% [of GDP] in the US, the eurozone’s debt amounts to 90.9%, Germany’s and France’s total 66.5% and 111.1% respectively, Russia’s 14.9% is a well-performing indicator,” the leader stated.
Putin also drew attention to the rate of inflation in Russia, noting it is among the lowest compared to numerous other countries – including in the West.
“As of March, [inflation] is 3.5% in Russia, 7.4% in Germany, the euro area as a whole recorded 6.9%, while inflation in France and the US amounted to 5.7% and 5% respectively,” Putin pointed out.
Central bank data cited by Russian media in March showed that the country’s foreign debt has dropped to its lowest level since 2007. It reportedly decreased by 21.1% last year to $380.5 billion, representing a fall of $101.8 billion.
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Sure, Russia has low debt, productive industries, a strong military and almost unending food production and natural resources, but they’re running woefully short on drag queens and trannies.
Move to Russia, be friends with Eddie Snowden, he loves it there.
They tend to fall out of windows in Russia along with COVID doctors and rival politicians. Russia seems to have a real window problem. Maybe some OHSA regulations would help them overcome that manufacturing problem?
So … in Russia they fall out of windows … here they commit Arkancide … huge difference …
Comparing the debt worthiness of Rubles to Dollars right now is like comparing the woman you have always wanted to bang, to your wife. I have always wanted to bang Scarlett Johansson.
Will it ever happen? Uhhh….no
The dollar will be king until everything world wide is so fucked up nobody will want to be alive.
So, like 2025?
Rich oligarchs go towards safety. Right now the dollar is the best looking horse in the glue factory. China? Russia? Thailand? Brazil? Are they really better than here? Reserve Status WILL go away but the dollar absolutely will not.
When world situations actually start to get shitty what country are you going to put your money in? Where do you want to live? An Island in the pacific ? For how long? Have fun getting food down the road and the locals will hate you.
Seriously. You live in this country now, shit hits the fan, WWIII, where the fuck are you going to go? You can be “Sovereign Man” and do all the stupid fantasy shit he talks about that only the 1% can do… or you deal with it here.
Keep in mind we can still have guns here and taking them away will be…well…kind of HARD.
We are all here now. What to do? We should all go to Russia, life is wonderful there, you can smoke pot and shoot guns in your backyard and drink good Vodka.
CBDCs?
It is the belief, but has yet to be proven.
From how many I have see completely comply when ordered over the last few years, many who are gun owners, I am not putting a lot of faith in that belief.
Coming to a town near you late 2023!
Biden or Trump makes more sense?
True, but the dollar won’t fuck up Russia anymore. If you want Russian natural resources, which many countries do, you now have to pay in roubles. Putin also backed the rouble with gold, something the US did away with almost fifty years ago.
While I don’t trust Russia, the rouble is more secure than the UD dollar, but the Mexican peso probably is too!
Russia has no viable government, it is a conglomeration of criminal enterprises that survived the collapse of 1991. They can do what ever they want with no fear of reprisals. In this country we have GUNS. That makes .gov at least try to be polite. There are not enough rare earth minerals to sustain modern life. Picture a movie of the linear history of the 20th century and play it backwards. That is our future.
Put your money where your mouth is.
Invest in Russia and Mexico Mr. Invester bigshot.
LOL – explain to us how I even could do so.
Is there an ADR for Gazprom or Lukoil?
Or does your Western online broker allow you to buy stocks in the most sanctioned country in history, at the Moscow stock exchange?
Know a way to buy Russian bonds?
Nice straw-manning though.
Russian debt = money owed to internal criminal organizations
USA debt = money owed to international criminal organizations
Therefore invest into Russian debt, if you prefer competition!
/i
Russia was running high debt not many years ago. Putin tightenen the belt and paid it down. It was actually reported by the US press. It makes sense if he was preparing for war, which we now know he was.
Right…you believe that? You believe what any country says is their true economic situation ? Nobody reports true economic decline , which by the way is endemic.
We are all screwed. It’s over.
It really is worldwide. The various players, such as BRICs, U.S, E.U., etc. are merely whales. They are not the house. They are still really big fish in a wholly-owned barrel.
You have no effing clue.
Russian [federal] dept was high up to 1998, then it defaulted (cross-check with LTCM.) As much as I like Putin, he had nothing to do with reducing the debt – however he managed to only let it grow back from 0% to about 15%, since 2000.