Military Forum for Russian and Global Defence Issues
MOSCOW, October 7 - RIA Novosti. The Finance Ministry proposed to establish a maximum level domestic debt of the Russian Federation as of 1 January 2017 9 trillion rubles, external - 55.1 billion dollars from the draft budget should be placed on the federal portal of the disclosure of the preparation of regulatory and legal acts.
External debt of Russia as of January 2015 amounted to 54.36 billion rubles.
Austin wrote:How much is Russia GDP today in Trillion Roubles ? Should give a good idea of the % of public debt internal and external
Project Canada wrote:After successful Russian cruise missile strike against USIS targets, suddenly Crisis-hit Russia toiling to keep factory towns alive
sepheronx wrote:Many so called monograds been "dying" since the 90's. Ones like Togliatti will survive due to being main automotive manufacturer but also have invested in chemical processing and other industries. I can see one horse towns in Russia closing up and people moving to other regions, but that is what always happens. Everywhere. Like KVS said, cherrypicking is what US does best in its media and I dont think it is welcomed. Facts are facts.
What is funny though, is your article actually paints a different picture, if you skip over the hysterical propaganda. It talks about the (only mentioned monograd in the article) about how it is diversifying by opening up greenhouses and modernized their factory which helps reduce overhead, which helps in terms of profits.
BTW, KVS, on trading economivs the PMI for manufacturing is 49 for sept. So where is your figure from if you dont mind me asking?
Одновременно в обрабатывающих отраслях был зарегистрирован незначительный рост объемов производства. Подобный некоторый рост был зарегистрирован впервые с апреля этого года. Это позволило соответствующему совокупному индексу подняться до отметки 50,9 балла против 49,3 балла в августе.
sepheronx wrote:http://trueeconomics.blogspot.ie/2015/10/11015-russia-manufacturing-pmis-some.html?m=1
Essentually, there are still oversupply of older products still awaiting to be cleared, but major gain was import substitution. So regarding already operating manufacturing, here may not be a pmi for a bit till old supplies are sold off. But there are growing orders for new products. As well, demand from outside Russia has dropped considerably, so that is another factor.
http://trueeconomics.blogspot.ca/2015/10/51015-russia-services-composite-pmi.html?m=1
On service sector which is considerably higher in growth.
kvs wrote:sepheronx wrote:http://trueeconomics.blogspot.ie/2015/10/11015-russia-manufacturing-pmis-some.html?m=1
Essentually, there are still oversupply of older products still awaiting to be cleared, but major gain was import substitution. So regarding already operating manufacturing, here may not be a pmi for a bit till old supplies are sold off. But there are growing orders for new products. As well, demand from outside Russia has dropped considerably, so that is another factor.
http://trueeconomics.blogspot.ca/2015/10/51015-russia-services-composite-pmi.html?m=1
On service sector which is considerably higher in growth.
Consumer demand will lead the manufacturing demand so the "implosion" of the Russian economy much discussed by the NATO MSM
is a flop.
Earlier Thursday, Russian Finance Minister Anton Siluanov said that the federal budget deficit of Russia in 2016 will amount to 2.36 trillion rubles, or 3% of GDP, the main source of financing the deficit will perform the Reserve Fund in the amount of 2,136 trillion rubles.
According to him, up to the last Wednesday of the meeting of the government commission decided to increase budget spending for 2016 to 175.8 billion rubles as compared to the draft prepared by the Ministry of Finance.
As the reporters Emergency Situations Minister Vladimir Puchkov, as the government approved the macroeconomic forecast prepared by the Ministry of Economic Development in the years 2016-2018.
According to the updated macroeconomic forecast, inflation in Russia in 2016 will amount to 6.4%, GDP will grow by 0.7%, the average rate of the dollar - 63.3 rubles. The decline in investments in Russia in the next year is expected to reach 1.6%.
sepheronx wrote:And?
Do you think Russias economy actually dropped by half? No. Nominal dropped in half thanks to rubles forex value dropped in half. Look at PPP figures. If you use last years forex value of roughly 35Rub/usd you will see it as a $2.3T economy. So you will see why it has now become pointless to value in USD term. Far better to just calculate in rub term for nearly everything. I am bad for also looking at it in the exchange value and not the value it really is in rubs itself.
Most people accept the conventional measure of Russia's GDP based on US dollars is wrong. The IMF and the World Bank prefer to estimate Russia's GDP on the basis of purchasing power parity. On that basis Russia has the world's fifth biggest economy, roughly the size of Germany's.
Even that estimate in my opinion is wrong. It is not that the statistics are wrong. It is that what is being compared are sets of statistics rather than two totally different economies.
I know Germany well. I can confidently say that Russia's economy operates on a far bigger scale. It is physically impossible for Germany to do many of the things Russia does without effort. Conversely there is nothing Germany does that Russia cannot do if it commits itself to doing it.
The only economies that can match or surpass Russia's in technology and depth of resources — and can do all the things Russia does — are those of China and the US.
India, Germany and Japan can also do some of the things Russia does, but not all of them.
No other states come close.
KRASNOGORSK, October 9. /TASS/. Resources of reserve funds may be exhausted in 2017-2018 at their current spending rates, Russia’s First Deputy Minister of Finance Tatiana Nesterenko said on Friday.
"It is impossible to speak about development and investments in the private sector when our latest financial resources are used to close the deficit with limited resources to replenish the budget, when we have no foreign markets and domestic markets are limited. Reserve funds are depleting. We believe reserve funds may end at such rates of their spending. We will use up resources received when oil prices were high by 2017-2018," Nesterenko said.
The target is to keep total resources of the National Wealth Fund and the Reserve Fund at the level of at least 2 trillion rubles ($32.5 bln) by 2018 year-end, Finance Minister Anton Siluanov said in September.
The Reserve Fund amounted to 4.67 trillion rubles ($75.8 bln) and the National Wealth Fund equaled 4.87 trillion rubles ($79.1 bln) as of October 1.
Austin wrote:Why cant they just borrow from local market and increase their public debt and use that money for investment and development of projects ?
sepheronx wrote:Edit: What does he mean by no foreign markets
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