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The Economist = Menu Weekly edition Q Search v Finance & economics | 'Tis but a flesh wound Russia's economy is back on its feet A recession looms, but perhaps not a big one Getty Images May 7th 2022 < Share N EARLY APRIL we pointed to preliminary evidence that the Russian economy I was defying predictions of collapse, even as Western countries introduced unprecedented sanctions. Recent data further support this view. Helped along by capital controls and high interest rates, before Russia's invasion of Ukraine in late February (see top chart). Russia rouble is now as valuable as it was appears to be keeping up with payments of its foreign-currency bonds. The real economy is surprisingly resilient too. True, Russian consumer prices have risen by more than 10% since the beginning of the year, as the rouble's initial depreciation made imports more expensive and many Western companies

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The Economist: Russia's economy is back on its feet


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Anonymous 11/26/24(Tue)08:36:23 No.62927750 >>62927766 >>62927798 >>62927805 >>62927814 >>62927844 >>62927984 >>62927999 >>62929393 >>62929493 >>62929505 >>62932008 >>62934331 >>62934834 >>62935925 File: bafkreifkiygxtbyjrytqeq5t(...).jpg (94 KB, 1080x912) Hind States Doll 105.01 Russian Ruble wot rubble doin Anonymous 11/26/24(Tue)09:24:27 No.62927844 >>62928002 >>62928019 >>62928036 >>62928069 >>62928198 >>62927750 >wot rubble doin The inevitable. Everyone with half a brain would've seen this comming >spend more than you make >reserves cover deficit so it ok >reserves run out >"wat do comrade?' >"we pay our kremostniki in rubles, so we devalue ruble to get more money" >"You of genius Alexey!" The central bank has been artifically propping it up, under Monke's orders, but i guess that National welfare fund they've been building for 15 years ran out. Anonymous 11/26/24(Tue)11:06:26 No.62928002 >>62928120 >>62927844 It's not only about reserves running out, it's about economy running on krokodil-tier stimulus spending, jacking up inflation to f----- up levels. Anonymous 11/26/24(Tue)12:11:31 No.62928120 ► >>62928002 Dont forget the fierce competition for labour between the civilian economy, the MIC and the army Anonymous 11/26/24(Tue)11:17:15 No.62928019 >>62928314 >>62927844 Wont russia soon also not be able to sell like 80% of their oil and gas because the west wont sign some new certification for them? I dont really even understand why they need it I doubt china or india will care Anonymous 11/26/24(Tue)13:37:03 No.62928314 ► >>62928019 >I doubt china or india will care The certifications guarantee that the product is of a certain composition, so yes, they care. Hydrocarbons of differing qualities have very different properties, and nobody wants to risk getting delivered a million barrels of s---. They care so much they may be willing to operate a parallel and equivalent certification standard, though it would have to be run by "anybody but the Russians", which may be a problem in that negotiation. Anonymous 11/26/24(Tue)12:54:00 No.62928198 >>62928209 >>62928274 >>62927844 If this was true the Russian economy wouldn't be steadily growing. ☐ Anonymous 11/26/24(Tue)13:25:31 No.62928274 ►>>62928309 >>62928198 >government dumps x amount of billions into contracts >"Look guys our economy grew" yeah Anonymous 11/26/24(Tue)13:35:51 No.62928309 ► >>62928274 >Into contracts for things that provide no value to Russian people and immediately are destroyed or used up Anonymous 11/26/24(Tue)13:00:53 No.62928209 >>62928248 >>62928198 >It's GROWING. It's getting BIGGER. Do not ask how it is getting bigger or why. Anonymous 11/26/24(Tue)13:16:29 No.62928248 >>62928259 >>62928265 >>62928271 >>62929546 >>62930240 >>62930285 >>62928209 Look, Russia isn't collapsing. Unemployment is an all time low and industrial production os higher than ever, salaries growing. We failed to sink Russia economically, that's all. Anonymous 11/26/24(Tue)13:19:56 No.62928259 ► File: GZi5PHqaAAE0-Ke.jpg (207 KB, 700x467) >>62928248 yeah but you're back to buying levis from shady back alley merchants like the good ol days ☐ Anonymous 11/26/24(Tue)13:22:39 No.62928265 >>62928248 Damn, I wonder why Russia is raising interest rates every single month with such robust economy. Anonymous 11/26/24(Tue)13:24:41 No.62928271 >>62928320 >>62928452 >>62929553 File: 1732572994030339.jpg (342 KB, 745x1361) >>62928248 >Unemployment is an all time low Because the men are working or cubed in donbass >salaries growing Because of above and also rampant inflation >industrial production higher than ever According to russia, and if so only military production which is burnt in donbass. If you want a real idea for how badly industrial production is failing look at how much less carbon their putting out year on year. Russia greened the f--- up since 2022 for a economy based entirely on petroleum products. Anonymous 11/26/24(Tue)14:30:54 No.62928452 >>62928459 >>62928468 >>62928502 >>62928271 Never trust a russkis and his "official data" I work in meat and dairy. There's a huge butchering plant in Kursk and these f------ are still reporting slaughtering more hogs then ever, although the plant is within shooting range, the railway overloaded and f----- and the equipment is starting to crumble. The motors are good for 50k hours, they got the last one 2021- if they are not shot yet, they'll be toast within the next 4 months. Bye bye and a happy f--- you too russkis. Was waiting 900secs just to vent my anger on those earthworms Anonymous 11/26/24(Tue)14:32:19 No.62928459 ► >>62928452 >still reporting slaughtering more hogs then ever That's just where the mobik cubes are made. Of course they're busy. Anonymous 11/26/24(Tue)14:35:31 No.62928468 ►>>62928497 >>62928452 >Never trust a russkis and his "official data" Don't worry, soon there won't be ANY official data from Russia, just like they banned reporting oil refining numbers after hits on their refineries, they will ban reporting on all production Anonymous 11/26/24(Tue)14:43:31 No.62928502 >>62928452 Those aren't hogs, anon. >>62928534 But i agree with you, russian numbers have always been b-------. My favorite cope (and you'll see it on here from time to time) is when they post official kia numbers. It is, without fail, the number the ukies and west have divided by ten. Every time. The only data thats trustworthy about russia will come from third parties but not china, they lie just as much. >>62928469 I had a response explaining how retarded they were for thinking that way, but every argument i had could be rebutted by "but theyre russians". You are of course correct in the short term, but this war will end one day and the sanctions historically wont go away. So what do they do? Invade belarus? Its just the death spiral no matter which way they take until it all falls apart. It just gets harder to rebuild after each passing day. Anonymous 11/26/24(Tue)18:56:50 No.62929553 ►>>62929581 In 2025, Russians will face a new series of losses and bankruptcies. The reason is not only sanctions restrictions but also growing problems inside Russia. Rusal, one of the world's largest aluminum producers, announced the start of production optimization - it will be reduced by 250 thousand tons in the first stage. The company explained the decision of optimization by "record prices for raw materials and high risks of a continued negative macroeconomic environment." Major Russian mining and metals company Mechel announced the suspension of one of its enterprises - Olzherasskaya-Novaya mine in Mezhdurechensk. The reason is problems with the sales market. Major Russian corporation PJSC Gazprom made a record net loss of $6.1 billion in 2023, becoming Russia's most unprofitable company for the first time in 25 years. ALROSA (Russian group of diamond mining companies) reduced its revenue under Russian Accounting Standards (RAS) by 30% and net profit by 3 times in 9 months. The net loss amounted to 6.5 billion rubles ($62,7 million). Baltika brewing company is among the top ten most unprofitable companies in Russia in 2024. In 2022, the company's revenue was about 100 billion rubles ($965 million). In 2023, the net loss was 28.1 billion rubles ($271,1 million). The option of filling the budget by nationalizing profitable private enterprises has failed. PJSC KAMAZ's net loss for the first nine months of 2024 amounted to 3.8 billion rubles ($36,6 million) against a profit of 15.8 billion rubles ($152,4 million) for the same period last year, according to financial statements published on the company's website. AvtoVAZ automobile manufacturing company is talking about possible bankruptcy and debts of over 100 billion rubles ($965 million). This is due to the increase of the Russian key rate. Rosneft CEO Igor Sechin is going to classify data on Russian oil exports and the production volumes of Russian refineries ostensibly to protect Russia's national interests from "unfriendly actions" by the USA and other Western countries. In reality, it is to hide the crisis in this field. Sanctions were imposed on Gazprombank, the major bank, and fifty other banks. Sanctions were also imposed against the Russian System >>62928271 >carbon output Oh there's a lot more funny little data points besides that. >Rusal corporation will be reducing production of aluminium by 250k tons yearly. That's the equivalent of 13,100 BMP-3's by weight. >Kemerovo (close to Mongolia, Kazakhstan and China) coal mine, one fo the five largest coal mines in Russia, is fully closing down. >Kamaz (car corporation) reporting over 3.8 billion in losses for 2024, despite the company making products worth 15.8 billion, suggesting the state is no longer able to cover their bills. >AvtoVaz is considering declaring bankruptcym being at over 100 billion in debt. This is the company that produces Lada cars. >Next year RU oil export data will be classified. Anonymous 11/26/24(Tue)19:01:41 No.62929581 ► >>62929553 Exactly, if you look at things hard to fudge the russian copeganda all falls apart. You can move s--- around in a set piece grocery store and relabel price tags on the cheap. You cant unfuck Kamaz on the cheap tho. Anonymous 11/26/24(Tue)18:55:15 No.62929546 >>62929743 >>62929935 >>62931420 File: promises_even_furtherer_t().png (628 KB, 1080x1080) The Central Bank will pour billions into state banks to fill Putin's military budget >>62928248 What is the current inflation rate? promises even furtherer tightening What is the current interest rate? When is the next interest rate hike due? How much have state pensions increased to compensate for inflation? Anonymous 11/26/24(Tue)19:29:17 No.62929743 ► >>62929546 >What is the current inflation rate? official: 8 unofficial: 30+ >What is the current interest rate? 21% >When is the next interest rate hike due? by the end of the year certainly, unless Chemizov get's the KGB to arrest Nebyulina as a "traitor and a pest" >How much have state pensions increased to compensate for inflation? 0.2025 has no provision of indexing pensions. Hopsital staff is getting a 30% haircut though Anonymous 11/27/24(Wed)01:03:00 No.62931420 >>62931439 >>62931840 >>62931981 File: schrodingers-russia.jpg (118 KB, 522x521) >>62929546 1 ruble = 1 ruble. Doesn't matter it it equals one million american monopoly dollars. The dollar is phased out. The Central Bank will pour billions into state banks to fill Putin's military budget Anonymous 11/27/24(Wed)19:59:46 No.62935925 >>62935928 >>62935931 >>62927750 Does that matter? They can't buy many foreign items anyway. Anonymous 11/27/24(Wed)20:00:51 No.62935928 >>62935925 I think you just answered your own question. Anonymous 11/27/24(Wed)20:01:25 No.62935931 ► >>62935925 >crashing currency matters not because theyre so heavily sanctioned Only so long can people afford bread when bread doubles Anonymous 11/27/24(Wed)16:11:54 No.62934834 >>62936035 File: RQuuj5X.jpg (175 KB, 1280x904) >>62927750 line is green like elephant, the loans are defaulting. soon, everyone will afford nothing. promises even furtherer tightening 11:13 pm 18 Nov 2024 3,214 Views Anonymous 11/27/24(Wed)01:07:03 No.62931439 ► >>62931420 Doesn't work like that, retard. It's how you get hyper inflation. Anonymous 11/26/24(Tue)18:42:56 No.62929493 ►>>62930303 >>62927750 Argentina and Turkey somehow manages to survive with like 80% inflation. Russia is a self sustaining country, it can feed it's people and sadly most Russians will accept the new reality of being b------ poor Anonymous 11/26/24(Tue)21:32:56 No.62930303 >>62930309 >>62929493 1/2 >Argentina and Turkey somehow manages to survive with like 80% inflation The first stage is that people can put up with it as long as real wages keep up with inflation, so that the standard of living remains the same (so for instance, you get an 80% wage rise to match that inflation rate) but this is already a bad situation to be in, because your economy is not really growing just stagnant and you are barely managing to keep up the standard of living you already had. The economy keeps itself duct-taped together with restrictions on buying foreign currency, high interest rates (to keep people using and saving in the local currency), price controls and other weird mechanisms which are even worse for growth but kinda prevent everything from collapsing. The thing is that it eventually spirals out of control, which is always what eventually happens when you are printing money out of thin air, and that 80% can very quickly turn into 200% or 300% inflation as people lose faith in the currency and demand for local money plummets, it's like the people decide it's not worth to keep local money in any kind of savings not even with the artificially high interest rates, so people rush their big purchases as soon as they get their paycheck and make a habit of buying foreign currency every month to limit what they save in local money to a minimum. It's getting harder for wages to keep up with inflation at this stage. This is stage two. ☐ Anonymous 11/26/24(Tue)21:33:57 No.62930309 ► >>62930303 2/2 Stage three is outright hyperinflation with ridiculous 300000% inflation rates which means prices rising by the hour and people just rushing to spend their money as soon as they can, prices rise by the hour and everyone tries to avoid the local currency like the plague and your $1000 USD a month wage has turned into a $4/mo wage it's basically meaningless to work for local currency as it's worthless. The economy basically collapses and ceases to function at all except in black markets where USD is used. People abandon the local currency in a stampede like a crypto exit scam. Venezuela reached stage three which is why the country collapsed in a humanitarian/hyperinflation crisis. Argentina got as bad as stage two, almost reached stage three but then we had elections and did a 180° with austerity to stop printing money right on time before complete meltdown. The elections also worked as a release valve as people were very p----- off, we just vented our anger at the polls instead of burning s--- down, an authoritarian country won't have that release valve. I don't know enough about the situation in Turkey or Russia, but I can say that this out of control spiral can happen quite suddenly. You think you got used to living with high inflation, but then it can cross into stage 2 or 3 overnight, like a car switching gears. t. argie Anonymous 11/26/24(Tue)13:57:15 No.62928377 >>62928381 >>62928395 >>62928402 >>62928403 BTW Russia is on a war economy now. Their defense spending is through the roof. Since they have complete energy and food independence and since China has come in to fill industrial gaps their economy is doing more-or-less fine. They are running on MMT backstopped by energy exports - which is why Ukraine has been targeting that energy industry so heavily. The problem with their ecenomy is that it has limited SKILLED labor. So if you're in the Moscow tech sector you're booming right now but there is a hard and nearby limit to growth due to lack of skilled workers and engineers. Because the skilled workforce is limited so there too is a limit to how far MMT can be leveraged. MMT can only go so far and if you pump in more money then there is a workforce to make use of it then you run into hyper-inflation. So they're doing well NOW but the economy doing well is NOT what Putin and his circle are primarily interested in, what they care about is securing their energy markets in Europe and is literally what this war is about to begin with. The reason why they're pouring money into their economy NOW and not before the war is because they had to re-learn lessons about economic strength and the ability to fight wars. Anonymous 11/26/24(Tue)13:59:55 No.62928381 ►>>62928391 >>62928377 >complete energy and food independence >imports gasoline from Belarus and Kazakhstan >imports eggs, butter, potatoes yeah Anonymous 11/26/24(Tue)14:09:32 No.62928402 >>62928406 >>62928424 >>62928496 >>62928504 >>62935045 >>62928377 Russia doesn't have food security, they produce enough grains but not meat or eggs. In fact they import most seeds and incubator eggs, without European/American seeds Russia will have famine, without chicks they will have no chicken meat ☐ Anonymous 11/26/24(Tue)14:09:34 No.62928403 ►>>62928500 >>62928391 >>62928377 >Eggs cost the same as a small house, financing options available >Da comrade, everything is fine, we have food self-sufficiency and economy is of fine Anonymous 11/26/24(Tue)14:41:16 No.62928496 >>62928508 >>62928539 >>62928582 >>62929649 >>62930089 >>62928402 >>62928435 Do you jerk on making up fantasies? Russia is certainly not an economic powerhouse, but 1) has higher protein per capita consumption than e.g. UK, Germany or Canada https://ourworldindata.org/grapher/daily-per-capita-protein-supply 2) is a net food exporter https://www.reddit.com/r/Map_Porn/comments/cbxtrx/world_map_of_which_countries_import_export_on_net/#lightbox 3) Potato seeds are 65% imported and corn is -55% but for example wheat seed is less than 8%, as local breeds have long since overtaken european seed quality wise. Anonymous 11/26/24(Tue)20:51:31 No.62930089 ► File: 23534633.jpg (9 KB, 248x203) Yeah Zone >>62928496 >https://ourworldindata.org/grapher/daily-per-capita-protein-supply 2021 >https://www.reddit.com/r/Map_Porn/comments/cbxtrx/world_map_of_which_ countries_import_export_on_net/#lightbox 2017 yeah Anonymous 11/26/24(Tue)19:12:10 No.62929649 ▶ >>62935045 >>62928496 Ireland was a net potato exporter throughout the Irish Potato Famine. monke knows where to ship food to buy loyalty from ignorant n------ around the world. >local breeds have long since overtaken european seed quality wise No. Are these "local breeds" in the thread with us? Right now? But, feel free to list all the other countries of the world that get their seeds from russhit due to the "superior quality" of the crops & food they produce. Anonymous 11/27/24(Wed)16:50:38 No.62935045 ► >>62929649 >>62928832 >>62928435 >>62928402 The funny thing is they sold off their soviet era goat breeding program and aquaculture hatcheries to the Norks not to mention all those greenhouses they are paying for are mostly for seed plants, the off shore farms they DPRK are building like crazy are all Russian financed. Best part is the big scallop farm they are making is within sight of the resort city they built so Russian tourists get to experiance functioning infrastructure, agriculture and government if they can afford it. Anonymous 11/27/24(Wed)09:04:34 No.62933363 >>62933408 >>62934276 File: 1720474375527217.png (36 KB, 775x432) 1 United States Dollar equals 109.00 Russian Ruble 27 Nov, 08:53 UTC - Disclaimer 1 109.00 110 1D 5D 1M 1Y 5Y Max 105 United States Dollar ▾ 100 Russian Ruble ▾ 95- 6 Nov 17 Nov More about USD/RUB → TENKO MONKE URAAAAAAAAAAAAAAAAAAAA Anonymous 11/27/24(Wed)14:04:48 No.62934276 >>62934326 >>62934350 >>62934408 File: 12 hours.png (54 KB, 1076x524) USD to RUB Chart +7.21% (12H) US Dollar to Russian Ruble 02:10 12H 1D 1W 1M Feedback • 1 USD = 113.111 RUB Nov 27, 2024, 13:54 UTC 14 1Y 2Y 5Y 10Y 114.465 111.336 108.336 03:00 105.336 03:40 04:10 04:40 05:10 05:40 06:10 06:40 07:10 07:40 08:10 08:40 09:10 09:40 10:10 10:40 11:10 11:40 12:10 12:40 13:10 13:54 >>62933363 TUMBLING DOWN Anonymous 11/27/24(Wed)14:43:29 No.62934408 ►>>62935357 >>62934276 It's gonna close at 110. The Central bank is waiting for end of day to make one big buy order. Of course that doesn't help much beyond wasting valuable currency. I don't think we will have a plateau until atleast 120. Anonymous 11/27/24(Wed)18:02:32 No.62935357 ► File: 5d9.png (3.76 MB, 2166x1611) >>62934408 >gonna close at 110 >17:23 Talinn timezone, end of trading day - CB trying a rally to 109 >17:31 - trade closes at 113 Anonymous 11/26/24(Tue)15:52:55 No.62928777 >>62928787 >>62929120 >>62929162 File: 1715086960733233.png (40 KB, 764x440) 1 United States Dollar equals 107.71 Russian Ruble 26 Nov, 15:51 UTC Disclaimer 1 107.71 UwU wuts dis + Follow 1D 5D 1M 1Y 5Y Max 108 104.01 00:00 106 United States Dollar 104 Russian Ruble 102 00:00 More about USD/RUB → ☐ Anonymous 11/26/24(Tue)15:54:15 No.62928787 ► >>62928777 *notices the surge* ཨ་ས་ཨདི་ 06:00 12:00 Feedback Anonymous 11/26/24(Tue)17:09:13 No.62929120 ► >>62928777 Buy the dip saars! Anonymous 11/26/24(Tue)17:19:52 No.62929162 ► >>62928777 lol. You can even see the central bank interventions. Imagine having 100k in the bank and waking up to find you are 3k poorer in just one day
Anonymous 11/26/24(Tue)08:36:23 No.62927750 ►>>62927766 >>62927798 >>62927805 >>62927814 >>62927844 >>62927984 >>62927999 >>62929393 >>62929493 >>62929505 >>62932008 >>62934331 >>62934834 >>62935925 File: bafkreifkiy.gxtbyjrytqeq5t(...).jpg (94 KB, 1080x912) ted States Doll 105.01 Russian Ruble wot rubble doin W ☐ Anonymous 11/26/24(Tue)09:04:20 No.62927805 >>62927847 >>62927998 File: 20241124_102738.jpg (27 KB, 685x349) xew AS AL WL 09 10 OL 08 06 00L OLL LE VOL L WE MON թլզոd OL be a pa >>62927750 Nyet, economy is fixed ☐ Anonymous 11/26/24(Tue)11:04:55 No.62927998 >>62928018 >>62928023 >>62928105 File: 82C363E0-DD9A-4AFC-BC40-4(...).jpg (45 KB, 685x349) J Иол гз оnic DecisiшGL Kпple 80 Big 16- до 19 Do JOO JJO JD 2D JW JA PA W9X >>62927805 Nyet comrad, you drunk again from jet fuel, green line supposed to go down, here I fixed it >>62927984 Comrad, green like is c--- in ass the upper the worse + LOOM
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Uploaded May 13, 2022 at 05:06PM EDT

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2022 Russian Rubles Crash

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