Financial Times: It is very possible that the Russians are manipulating data on the state of their economy
Rosstat (the Russian equivalent of our Central Statistical Bureau) is an increasingly discredited institution, as evidenced by, among other things, prof. Jeffrey Sonnenfeld of the Yale School of Management. So it can be assumed that at this point “Putin gets the stats he wants.”
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See also: Ukrainian fears. “In a dozen years or so a new Putin will emerge.”
That is why the decline in Russia’s GDP may be higher than official estimates
In turn, the Financial Times points out the following facts about Russia, which prove that we may be dealing with concealment of the disastrous state of the Russian economy:
- Three million of the most educated and talented Russians left the country;
- Russia is cannibalizing its CPU resourcesdisassembly of refrigerators, for example, to obtain the necessary parts in other sectors, when there is a ban on the export of modern technologies to Russia;
- up to 1-2 thousand. Foreign investors withdrew from Russia. According to the account of A.D. Sonnenfeld of Yale University, their Russian revenue made up 35 percent. The country’s gross domestic product. In addition, some played a major role. For example, The oil company BP has overhauled the Russian infrastructure needed to extract oilwhose sale is the most important source of income for the Russian budget.
- Income from gas exports practically disappearedWhen supplies were cut off from its main recipient, namely Europe. It will take years to build gas pipelines for alternative buyers.
- Although China and India buy oil that Russia cannot sell to Europe, the Russians are forced to sell it at a huge discount.
When profits from the sale of fossil fuels, which account for more than half of budget revenues, have almost completely evaporated, Russia spend money saved for a rainy day. Soon, notes the Financial Times, it will have to start saving big.
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