Interesting comment from Kristalina Georgieva, managing director of the IMF:
Russia has successfully transitioned to a “war economy” in which state spending on the military is crowding out other forms of economic growth. This mirrors the economic model of the late Soviet Union, Kristalina Georgieva, managing director of the IMF, told CNBC.
“If you look at Russia, today, production goes up [for the] military, [and] consumption goes down,” she said. “And that is pretty much what the Soviet Union used to look like.
High level of production, low level of consumption.”
>Interesting comment from Kristalina Georgieva, managing director of the IMF:<
Ms. Georgieva helped shape the agenda of the EU while serving as European Commission Vice President for Budget and Human Resources. In this capacity she oversaw the EU’s €161 billion (US $175bn) budget and 33,000 staff, as well as the EU’s response to the Euro Area debt crisis and the 2015 refugee crisis. Before that, she was Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, managing one of the world’s largest humanitarian aid budgets.
Ms. Georgieva began her career in public service at the World Bank as an environmental economist in 1993. After serving for 17 years, and in many senior positions, including Director for Sustainable Development, Director for the Russian Federation, Director for Environment, and Director for Environment and Social Development for the East Asia and Pacific Region...
Source: https://www.imf.org/en/About/senior-officials/Bios/kristalina-georgieva
Georgieva is a greenie globalist.
Just like mommy and the rest of the zeepers.
Except Russia isn't communist anymore and has a lower tax rate than we do.