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To: jb6
Actually the economy is the 6th largest in the world by purchasing power parity and growing at 7%.

Its growth rate is around 4.3 percent with an inflation rate over 15 percent. Its GDP is less than a third of that of Germany and about a tenth of that of the US. Its GDP per capita is around $5600. That's third rate by just about any standard. Here's a link:

http://www.economist.com/countries/Russia/profile.cfm?folder=Profile-Economic%20Structure

17 posted on 12/20/2004 7:23:30 AM PST by massadvj
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To: massadvj
Its growth rate is around 4.3 percent with an inflation rate over 15 percent. Its GDP is less than a third of that of Germany and about a tenth of that of the US. Its GDP per capita is around $5600. That's third rate by just about any standard. Here's a link:

Let's look at some valid figures from the CIA World Factbook:

Russia Top of Page Economy - overview: Russia ended 2003 with its fifth straight year of growth, averaging 6.5% annually since the financial crisis of 1998. Although high oil prices and a relatively cheap ruble are important drivers of this economic rebound, since 2000 investment and consumer-driven demand have played a noticeably increasing role. Real fixed capital investments have averaged gains greater than 10% over the last four years and real personal incomes have averaged increases over 12%. Russia has also improved its international financial position since the 1998 financial crisis, with its foreign debt declining from 90% of GDP to around 28%. Strong oil export earnings have allowed Russia to increase its foreign reserves from only $12 billion to some $80 billion. These achievements, along with a renewed government effort to advance structural reforms, have raised business and investor confidence in Russia's economic prospects. Nevertheless, serious problems persist. Oil, natural gas, metals, and timber account for more than 80% of exports, leaving the country vulnerable to swings in world prices. Russia's manufacturing base is dilapidated and must be replaced or modernized if the country is to achieve broad-based economic growth. Other problems include a weak banking system, a poor business climate that discourages both domestic and foreign investors, corruption, local and regional government intervention in the courts, and widespread lack of trust in institutions. In addition, a string of investigations launched against a major Russian oil company, culminating with the arrest of its CEO in the fall of 2003, have raised concerns by some observers that President PUTIN is granting more influence to forces within his government that desire to reassert state control over the economy.

GDP - real growth rate: 7.3% (2004 est.)

GDP - per capita: purchasing power parity - $8,900 (2004 est.)

Industrial production growth rate: 7% (2004 est.)
19 posted on 12/20/2004 7:48:14 AM PST by GarySpFc (Sneakypete, De Oppresso Liber)
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To: massadvj
Oh, I forgot to post the CIA World Factbook inflation rate for Russia:

Inflation rate (consumer prices): 13.7% (2004 est.)
20 posted on 12/20/2004 7:52:59 AM PST by GarySpFc (Sneakypete, De Oppresso Liber)
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To: massadvj
$5600

And it costs $60/month to feed a family of 3, what's your point? Most Russians own their apartments/houses with no payments. They were given them when the housing was privatized. The average car costs $1000, the average Western type car costs $7000. A farm away from the Moscow Oblast or one of the other major cities costs $5000.

As for your other figures, they don't jive with the CIA World Fact Book and no offense, but I'll trust them over the Economist that has been on the take of the oligarches for a long time, along with the WSJ. That's why the printed praise for Yeltsin right up to the economic collapse in '98, where they couldn't hide the BS any longer. Then they printed praise for Putin till 2000 when he turned on the Oligarches and started to clean up their act.

30 posted on 12/20/2004 1:38:20 PM PST by jb6 (Truth = Christ)
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