Posted on 04/27/2022 4:33:27 AM PDT by Cronos
The first such report since the beginning of the war in Ukraine. The Russian Central Bank shows pessimistic data. The invasion is already taking a toll on the economy.
The Russian Central Bank has published a report on the state of the economy for the first time since the beginning of the war in Ukraine . The data is definitely more pessimistic than what Russian propaganda is trying to present. The head of the institution, Elvira Nabiullina, signed the report.
The Russian Central Bank predicts a crisis
The Russian Central Bank has ceased to conceal the fact that the armed invasion of Ukraine had a very strong impact on the country's finances. In the report published on the institution's website, we read, inter alia, that Western sanctions, which cut the country off from access to technology and import opportunities, will have a very strong impact on reducing the potential and competitiveness of the economy. The institution responsible for the monetary policy of the state believes that a sharp decline in GDP should be expected. The main reason, of course, will be the drastic reduction in exports of Russian goods due to blocked outlets.
The second important factor is the decline in the quality of imports. Russia has been cut off from the possibility of obtaining most goods from the West, as well as from the technologies of companies that do not want or cannot cooperate with Russia due to economic sanctions. This means that even if Russia finds economic partners, the imports will be of much lower quality, which will limit the possibility of an economic rebound in the near future.
The report shows that a necessary condition for the recovery from the economic crisis and the survival of Russian companies is much greater freedom of action on the market. The Russian Central Bank clearly indicates that the state's influence on the economy should be limited and entrepreneurs should be allowed to act more free market. To this end, the institution forecasts the necessity to carry out serious economic reforms. One of the main assumptions would be to reduce taxes imposed on enterprises.
Note, translated, so will have some errors
Elvira, Mistress of the Bank, conjures up some dark and spooky tidings....
Oh goodie. An opinion piece from a Polish (?) newspaper. 🥱
The West needs to keep up the choke hold.
Yep.
Enjoy the suck Russia. This is going to hurt you more than anyone. Hey but you got rid of those Nazis in that town in a foreign country so it was all worth it right?
As does everything else you post.
As long as it pays in rubles, Poland can cry all it wants.
There’s a YouTube channel (1420) that does interviews off the street, so about three weeks ago....they did an interview with a retired aircraft mechanic. It was an interesting prospective.
At some point in the 1990s...the Russian system decided to downsize the educational system (apprentice programs were going to downsize). A number of specialized fields came up and said this made no sense...you needed aircraft mechanics for the future.
The comeback was...no, we (the gov’t) were going to go over to western aircraft and bring in western mechanics (the planes were regarded as more dependable). So as the years passed, fewer and fewer Russian aircraft mechanics.
If you asked Putin or his inner circle, I doubt if any of them understand the complex nature that the economy has morphed into...over the twenty years. As much as people deem a lot of what they read as misinformation, there is a harsh slowdown approaching, without much of a solution to resolve the mess.
Granted the coverage maybe a little slanted, (understandable, given what Russia did to Poland historically and is doing to Poland’s neighbor right now) but the article links to the actual report from the bank. Anyone who understands Russian is free to read the original document for themselves. Is that document an opinion piece?
All Part of Putin’s Plan.©️
“Oh goodie. An opinion piece from a Polish (?) newspaper. 🥱”
What, are you anti-Pole to go along with your pro-Russia?
“Enjoy the suck Russia.”
No kidding.
Russia brought this on itself; it has no one else to blame. But, being the bully it is, its first reaction is to blame someone else.
The opinion is in the Russian central bank document
https://www.cbr.ru/Collection/Collection/File/40953/bulletin_22-02.pdf
Jinkuje vam! “Have” in the place of “has” in the headline will aid understanding.
I suspect some central bank officials will soon be found dead along with their families in a “suicide”.
No economic reforms can save the Russian economy. The sanctions will continue for ever is the military occupies Ukraine. Salvation may be obtained by withdrawing from Ukraine but it will not be total
All Russian assets abroad at present belong to Ukraine as reparations.
Using a nuke in anger will bring instant Mother Russian death
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