Russian Economy General News: #2

sepheronx wrote:Looks like Kudrin is still trying hard to stay relevant even though he was a lousy finance minister. He decided to drop his $150B outflow down to $110B and thinks that if Russia kicked out of swift, that economy will contract by 5%. But as usual, the guy is baseless and doesnt even realize that there are multitudes of alternatives to swift from multitude of countries and soon enough, Russia as well (one company in Russia already stated they have a working system).

Wonder when Kudrin will state that Aliens will cause bubble crash in Russian market and dooming Russia? Cause he stated collapse of Russian economy for years and still has not realized he was wrong then.

KVS is right, Russia is full of old moneterists. The CB methods are stupid and people like Ukelele (whatever his name is) and Kudrin. Both come up with predictions with wide ranges and if numbers fall in there, even if it isnt even close to their prediction, they will say they were correct. So far, all major projects that will benefit Russia long term are by orders of Putin and his group. Financial ministers seem to not understand what is happening and live in their own little world.

sepheronx wrote:Pretty much. He tried to block the massive budget to rearm Russia. As well, under his policy, they sat on the money for a decade with very little domestic investments and seeked all foreign investments. Even India invests heavily in their owb economy as FDI is low in India compared to Russia. These people made Russia reliant on foreigners and its economy lacking diversification under him. Which was my other gripe. He witheld important funding in far east development that could of helped in diversification. He blamed everyone else but himself.

Man, it was annoying. I would sometimes yell at the TV at my parents house when he was on talking about needing to diversify economy while he was in. And yet, withold the funding needed. Guy was semi smart in hording the money. But they didnt need that much, at least not comoared to needing investments for development.

KomissarBojanchev wrote:My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class(they have an inequality problem much worse than even in the US corporate oligarchy) in energy, aeronautical, shipbuilding, automobile , hightech R&D, computer hardware and staple food product agriculture. The only things that shouldn't get much government intervention is software development, non staple agriculture, and small business retail.

I FUCKIN HATE IT when a special breed of post soviet russian patriots start blather on about how its so good for russian economy to have so many billionaires and millionaires. It just shows that there's too much of parasitic scum that hourde a large portion of the nation's wealth(that is in extreme need right now) to spend on shitty useless selfish private purposes.

sepheronx wrote: [link]

Whats the point? In Russia, goods are purchased in Rubles. Is it becayse majority of foreign products are dealt with in terms of USD? Because if China and other countries making majority of goods are willing to trade in each otger currencies, then why bother with this? Use your own currency and or buy other currencies like Rupee, HKD and such?

MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

"This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.

My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

Austin wrote:Russian Military Spending to Increase Next Year Despite Sanctions - Reports

MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

"This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.

Austin wrote:

Austin wrote:Russian Military Spending to Increase Next Year Despite Sanctions - Reports

MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

"This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.

I just did some back of the envelop calculation of Defence Expenditure from 2011 to 2017 based on what has been spent and what Vedomosti reports

http://www.foi.se/Documents/foir_3688.pdf

Defence Budget  ( Trillion Roubles )

2011 - 1.515 
2012 - 1.812
2013 -  2.106
2014 -  2.49
2015 -   3.032  ( projected )
2016 -  3.23     ( projected )
2017 -  3.36     ( projected )

Total -  17.545 Trillion 

SAP Total Funding  ( 20 Trillion + 3 Trillion for MIC ) 

for 2018 , 2019 , 2020 - Total Spending should be approx  5.45 Trillion

Approx 1.9 Trillion per year for 3 years

sepheronx wrote:Funny no one mentioned this and scream doom and gloom: http://uk.mobile.reuters.com/article/idUKKBN0H71IV20140912?irpc=932

Total capital outflow from UK so far this year is over $200B. And speculation that in Russia it is close to half of that in total....

Wow.

NationalRus wrote:

My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

i think i just vomited

kvs wrote:There is no need for billionaires.   They can only have such vast sums of money by controlling many companies or a few very large ones.   In either case, this is over-consolidation and does not represent an efficient market.   Economy 101 that is never mentioned in any media coverage.   By controlling so much economic activity these individuals exert an excessive amount of power.   Basically they are small dictators.    Teddy Roosevelt fought against the "Trusts" (aka oligarchs) and so did Putin.   It is a universal problem and not some evidence of Russian authoritarianism.  

Just like with monopolies, think AT&T, the corporate empires of billionaires need to be broken up.   To prevent any future accumulation of this sort, there should be a limit on how much an individual can own.   Of course, such a limit is absurd when you talk about a few million dollars.   But setting the cap at one hundred million dollars is fine.   How many gold toilet bowls does a man need?

KomissarBojanchev wrote:

NationalRus wrote:

My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

i think i just vomited

Then you vomited on the wellbeing of russian nonoligarchs...

Hannibal Barca wrote:

Austin wrote:

Austin wrote:Russian Military Spending to Increase Next Year Despite Sanctions - Reports

MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

"This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.

I just did some back of the envelop calculation of Defence Expenditure from 2011 to 2017 based on what has been spent and what Vedomosti reports

http://www.foi.se/Documents/foir_3688.pdf

Defence Budget  ( Trillion Roubles )

2011 - 1.515 
2012 - 1.812
2013 -  2.106
2014 -  2.49
2015 -   3.032  ( projected )
2016 -  3.23     ( projected )
2017 -  3.36     ( projected )

Total -  17.545 Trillion 

SAP Total Funding  ( 20 Trillion + 3 Trillion for MIC ) 

for 2018 , 2019 , 2020 - Total Spending should be approx  5.45 Trillion

Approx 1.9 Trillion per year for 3 years

Fuck yeah!
Just came back from Russia. Things looking great there!

NationalRus wrote:

KomissarBojanchev wrote:

NationalRus wrote:

My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

i think i just vomited

Then you vomited on the wellbeing of russian nonoligarchs...

i vomited on your stupidity, i think you should economicaly educate yourself then to spill economical diarrhea, our paragons shall be countrys like singapour, honkong, chile and switzerland and not beurocratic shitholes in the sake of labour populism, becouse what can be worse for a country then free people trying to be entrepreneurial and devolop ther country and offer a supply to ther fellow citizen that they might want, but right let the beurocrat pigs the so called "state power" knock them out in the name of a dozen oligarchs to fight with right?

MOSCOW, September 18. /ITAR-TASS/. The Russian government has approved a federal budget draft for 2015-2017, Finance Minister Anton Siluanov told reporters Thursday.

Under the draft, in 2015, budget revenue will stand at 15.082 trillion rubles, spending at 15.513 trillion rubles ($389 bln) and deficit will reach 0.6% of gross domestic product (GDP). In 2016, revenue will amount to 15.72 trillion rubles ($406 bln.), spending to 16.20 trillion rubles ($418 bln.), and deficit will remain at 0.6% of GDP. In 2017, revenue will amount to 16.44 trillion rubles ($424 bln.) and spending to 16.98 trillion rubles ($438 bln.).

Spending on the defense sector will rise 21.4% in 2015, while combined spending on education, healthcare and social policy will increase 7.3%. State support of the agriculture industry will be raised by 516 mln. in 2015, Siluanov said.

“All proposals by the Finance Ministry (regarding optimization of the budget) were approved. Except, we will have to negotiate an approval regarding fixed additional payouts to pensions for people who retire now,” Siluanov said, adding that the issue will be discussed by the end of the month.

Siluanov also said that the budget draft does not envisage sales tax introduction.
The government will have a $4.9 bln. anti-crisis reserve in 2015, the minister said.

The Reserve Fund will not be replenished in the bydget draft period and will amount to 3.705 trillion rubles ($95 bln.) by the end of 2017 due to currency fluctuation compared to 3.472 trillion rubles ($96 bln.) expected by the end of 2014. But it may fall by the end of 2017 if there is lack of non-oil and gas revenue, privatization revenue, and external and domestic borrowing.

The National Wealth Fund will rise to $86 bln. by the end of 2017.

sepheronx wrote:Firs this: http://en.itar-tass.com/economy/750147

Then this: http://en.itar-tass.com/world/750166

EU leaders must have a severe case of sypholus like Mugabe if they think they can have great trade with Eurasian Union while same time trying to boot Russia out of any group/economic dealings? Are they really this retarded?

sepheronx wrote:Firs this: http://en.itar-tass.com/economy/750147

Then this: http://en.itar-tass.com/world/750166

EU leaders must have a severe case of sypholus like Mugabe if they think they can have great trade with Eurasian Union while same time trying to boot Russia out of any group/economic dealings? Are they really this retarded?