About the Imaginary “10%+ Drop In Russia’s GDP” in 2022

MAY 10, 2022

This morning, Western agents of influence began to make catastrophic forecasts of a drop in the Russian economy this year by 10% or more of GDP. Of course, this will happen if the monetary authorities continue to pursue economic policy according to the recipes of the IMF. They are trying to program us for this. But all economists who know history know that military operations have always and everywhere been accompanied by GDP growth.

With proper resource mobilisation, we can achieve a 5% increase in this indicator this year. Now the main brake on investment and demand growth – the budget rule that sent our oil and gas revenues to the budgets of unfriendly countries – has been deactivated. If the Bank of Russia stops slowing down economic growth and opens up import substitution lending opportunities, then the increase in industrial production will be at least 10%.

To this we need to add the same increase in construction with a decrease in mortgage interest and the restoration of the L/DPR. The existing production facilities and scientific and technical potential and the availability of labour and natural resources allow this to be done. All those who paint for us an economic downturn should be expelled from the authorities as alarmists and saboteurs. And those regulators who create conditions for inflating the %, manipulating the ruble exchange rate and exporting capital should be punished as saboteurs.

Sergey Glazyev

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