Russia economy

Defense related and not covered in the other categories? Then it goes here.
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krzepice1976
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Tue Jan 10, 2017 10:03 pm

Well interesting if True
"
CHITA, September 9. /TASS/. The Russian Reserve Fund will be exhausted over the course of the next year, the budget deficit financing will start from the Russian National Wealth Fund, Deputy Finance Minister Alexei Lavrov told journalists on Friday.
"The Reserve Fund, as I remember, will be used up over the next year," Lavrov said. He added that once the fund is exhausted, the budget deficit financing will start from the National Wealth Fund."


More:
http://tass.com/economy/898846

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DEFCONWarningSystem
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Tue Jan 10, 2017 11:06 pm

Interesting. I would like to see more details on this. Everyone was commenting that Russia was spending beyond its means, especially with the price of oil going down.

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Navarro
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Tue Jan 10, 2017 11:15 pm

Sanctions and modernization have certainly taken their toll. Russia is now reducing its military expenditure for excellent reason. It's no shock either that Russia's economy minister was recently arrested:
viewtopic.php?f=16&t=7312&p=66138&hilit ... ter#p66138
The Russian National Wealth Fund is Russia's sovereign wealth fund. It was created after the Stabilization Fund of the Russian Federation was split into two separate investment funds on 30 January 2008. The two funds are the Reserve Fund, which is invested abroad in low-yield securities and used when oil and gas incomes fall, and the National Wealth Fund, which invests in riskier, higher return vehicles, as well as federal budget expenditures. The Reserve Fund was given $125 billion and the National Welfare Fund was given $32 billion.
https://en.wikipedia.org/wiki/Russian_N ... ealth_Fund
Russia is cannibalizing it's financial future. Meanwhile, the Russian economy is suffering in a variety of other ways as well:
viewtopic.php?f=8&t=6049&p=52365&hilit=economy#p52365

This time last year, January 2016:
"Russia’s Reserve Fund, which it uses to plug gaps in the budget, has slumped 30 percent since the start of last year. Finance Minister Anton Siluanov warned Wednesday that the buffer may be depleted entirely in 2016 if the government doesn’t enact bold spending cuts."
https://www.bloomberg.com/news/articles ... year-chart
Twitter: @DefconNavarro

kilo365
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Wed Jan 11, 2017 3:45 am

The crazy sad thing is....
if Russia spends every last dime... it still has America's negative trillions of dollars deficit beat... And if they mutate their economy into ours... they still have trillions left LOL....

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TruthandJustice
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Fri Jan 20, 2017 2:41 am

It just goes to show that we are heading into a period of high inflation. Maybe even hyper inflation? Trump said himself that we can print our debt away.

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