Posted on 06/19/2022 7:58:22 AM PDT by SpeedyInTexas
The Russian economy will return to 2021 levels in a decade unless the country takes reform measures amid unprecedented Western sanctions over Russia’s war in Ukraine, the head of the country’s largest lender Sberbank said Friday.
“If nothing is done in the current situation, then… the return of Russia’s economy to the level of 2021 could take about 10 years,” Sberbank CEO Herman Gref said.
Under its so-called “inertia” scenario, Sberbank forecasts Russia’s GDP to fall by 7% in 2022 and 10.3% in 2023 compared with 2021, when it grew by 4.7% to $1.77 trillion.
The decline would slide back into the single digits in the following years and reach -0.1% by 2030, according to a slide of Sberbank’s forecast at the St. Petersburg International Economic Forum (SPIEF), Russia’s annual showcase event for investors.
(Excerpt) Read more at themoscowtimes.com ...
Our economy faces the same. It has little to do with Russia.
Are you on crack, Speedy? According to my estimates, there won’t be even contraction in the Russian economy and the historically-high positive trade balance.
Meanwhile, the mortgage rate in the US is 6,5%. Is anyone making under $250k a year even able to buy a first home anymore?
“Are you on crack, Speedy? “
Come on, try to be civil. I didn’t think you were as “bad” as Kazan.
The economic forecast isn’t my forecast. It is the Sberbank CEO forecast. Just delivered at the St. Petersburg International Economic Forum (SPIEF).
If you doubt the CEO made the forecast, research the Sberbank presentation.
He wants reform, what is hard to get? What’s wrong with Kazan?
Our economy faces extinction.
“What’s wrong with Kazan?”
At least you admit you are a RuZZian.
Kazan keeps saying he is an American. The big lie on FR.
“Our economy faces extinction”
Someone is living in the dark abyss.
Cheer up.
I was in high school in the early 80s. I couldn’t get hired at McDonalds. Why? Adults wanted those jobs. Local McDs wouldn’t hire teenagers. That was a bad economy.
Today nearly everyone who wants a job can get one. Truck drivers can make 100K! Travel Nurses can make 100-200k!
I’ve seen a bad economy. This isn’t it.
True, but according to the parrallel timeline established by the Carter administration we are only in 1977 or 1978 and we have not dissipated the inertia from the Trump years yet.
A blurb on the economy in 1977:
“Unemployment declined, but massive cost-of-living increases stimulated by huge oil price hikes in the Middle East soon dominated the Administration’s domestic agenda. There was little it could do to control inflation, which soon reached double-digit levels.”
Why one can’t the American and Russian at the same time?
“Why one can’t the American and Russian at the same time?”
You missed a verb in that sentence somewhere. I can’t understand it.
Kazan he misses verbs, nouns, adverbs and adjectives all the time. He finished at the bottom of his FSB foreign language class.
Russia earned what is very likely a record 93 billion euros in revenue from exports of oil, gas and coal in the first 100 days of the country's invasion of Ukraine, according to data analyzed by the Center for Research on Energy and Clean Air, a research organization based in Helsinki, Finland.
Meanwhile, while we're being forced to raise interest rates to stop inflation, Russia is lowering their interest rates:
June 10, 2022, at 9:08 a.m. Russia's central bank cut interest rates back to their prewar levels Friday, saying inflation and economic activity were developing better than expected despite sweeping Western sanctions imposed in response to the war in Ukraine.
###
Listen up, you stupid twerp, if you and your neocon buddies want to continue to engage a sanction war with Russia that we are getting the worse end of, you scorched earthed out of the conservative movement and Republican party.
I talked with my daughter yesterday who is in touch with friends in Russia regularly through the Russian equivalent of facebook...
They said they are all fine and nothing has changed. They’ve had terrible years in the past and this is nothing significant. Businesses are open. They have what they need. Said they were prevented from calling it a war and must say “military operation” but other than that, no worries. Oh, also that they can’t leave the country to vacation.
They told her they were worried about the US - Biden talking to himself and shaking hands with imaginary people, the promotion of transgenderism, the worsening supply of food. Asked if she was OK.
Talked to son-in-law who is from Ukraine. He thinks Ukraine is the most corrupt nation on earth and doesn’t believe any of the news from Ukraine.
and so it goes.
You are not factoring in the coming collapse of the dollar and the USA defaulting on its debt as interest rates rise.
“USA defaulting on its debt “
Impossible.
US debt is denominated in USD. Fed/Treasury can print an unlimited amount.
Defaulting occurs when countries have foreign denominated debt and can’t acquire that foreign currency to repay debt.
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