Translated by Ollie Richardson & Angelina Siard
The other day the president of the Russia Vladimir Putin gave a big interview to the economic Bloomberg agency.
It is rather extensive and, probably, not all read it, therefore I would like to make my own dissection of it. As I am first and foremost an economist, my dissection will concern economic questions.
So, do you hear me well, Banderists? Now I will pass on to you the words of your god – Putin. He-he.
But not only for you, it will be useful for the citizens of Russia worrying about the economy to hear it.
- The Russian Federation’s Gold and Foreign Exchange Reserves (GFR) currently amount to about $400 billion (to be more exact, 394 billion). Over the last half a year they grew by 14%.
- Plus, there are two more reserve funds: Reserve Fund and National Welfare Fund, which contain over $100 billion.
- Russia to date has no need for external loans. And if suddenly it is needed, investors are forming a queue (based on recent test placement of eurobonds, demand for Russian bonds exceeded the offer several times).
- The budget deficit is around 3%, which is an absolutely acceptable size (in the majority of the European countries it is much more).
- All social obligations to the population are fulfilled in time and in full.
- At the beginning of the next year there will be an additional lump sum of 5,000 rubles for each pensioner.
- For the first half of the year the positive balance of trade was $45 billion. So there are no money problems in the country.
- Inflation over the last year has decreased from 10% to 3%.
- Unemployment is around 5.7% (on norms of “Economics” unemployment at 4% to 6% is considered acceptable, – it is considered healthy that the part of these people are simply engaged in self-development or look for more favorable work).
So calm down, dear jumping [pro-Ukrainians – ed] non-brothers, your dreams won’t be achieved and Russia won’t collapse. At least, in the near future. That I can’t say about Ukraine…
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