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    Russian Economy General News: #13

    Kiko
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    Russian Economy General News: #13 - Page 24 Empty Re: Russian Economy General News: #13

    Post  Kiko Fri May 10, 2024 6:17 am

    How Russian turbines supplanted Siemens, by Alena Zadorozhnaya for VZGLYAD. 05.10.2024.

    Expert Frolov told how Russia managed to create its own high-power gas turbine.

    For the first time in many years, Russia managed to achieve independence from the West in the production of high-power gas turbines. The government called this achievement an important milestone, and the expert community called it a fundamentally important success against the background of the confrontation with NATO countries. Energy expert Alexander Frolov told the VZGLYAD newspaper about the path Russian specialists had to go through to make a domestic turbine.

    Russia has overcome its dependence on the supply of foreign-made high-power gas turbines. This was stated by the head of the Rostec state corporation Sergei Chemezov at a meeting with Prime Minister Mikhail Mishustin in early May, TASS reports . What is important is that we are talking about serial production of domestic turbines.

    “We are installing a high-power turbine GTD-110M at the Udarnaya station, which is being built on the Taman Peninsula. This is the first production turbine. We are confident that we can be independent from Siemens and General Electric. We built three stations. This is the third one. Two stations were built in Crimea and one on the Taman Peninsula - “Udarnaya”, which we will fully launch this year,” Chemezov noted.

    In response, Mishustin called the achievement “an important milestone.” “I know how the corporation worked on this for a long time in order to replace all analogues of Western powerful turbines,” the prime minister was quoted as saying by RIA Novosti . Experts, in turn, calculated : if in Soviet times such equipment was mainly produced on the territory of the Ukrainian SSR, then after 1991 Russia’s dependence on foreign turbines could reach 90%.

    And since there are currently about 310 gas turbine units operating in the country, in the near future they will require not only maintenance and repair, but also replacement. In addition, given the active development of energy in the Far East and plans for the industrialization of new regions, the demand for turbines will grow.

    Alexander Frolov, Deputy General Director of the Institute of National Energy, editor-in-chief of the industry media InfoTEK, spoke in an interview with the VZGLYAD newspaper about how Russia moved towards creating its own high-power gas turbines and in what direction this industry will develop in the future.

    VZGLYAD: Prime Minister Mikhail Mishustin described the appearance of the Russian gas turbine as an important milestone. Why has this achievement become possible only now?

    Alexander Frolov : To understand the background, I suggest you dream up a little. Imagine holding a tender. Several companies are participating. One of them - Russian - declares equipment with the following conditional characteristics: overhaul intervals - a certain X, and energy losses - 40%. And then, say, a German manufacturer comes along: its equipment has a much longer service life between repairs and higher energy efficiency.

    In addition, the German player promises, as part of the agreement, to systematically update the software for the operation of the equipment, maintain direct communication with Russia and promptly make all necessary changes. Siemens offered an objectively more profitable, interesting and effective agreement. And until a certain time we could not win this race.

    VZGLYAD: Did this situation develop only in the field of manufacturing high-power gas turbines?

    A.F.: Unfortunately, no. Similar scenarios have been observed in a number of industries. To be fair, it should be said that they tried to change the situation. Somewhere this was done by directive. For example, Gazprom entered into agreements with our pipe companies, which were guaranteed a certain volume of orders, and also financed the modernization of enterprises. Largely thanks to this, Nord Streams and a number of other gas pipelines were built. But back in the 2000s, the backlog of our pipe makers was monstrous.

    The second option, which helped turn the situation around, was licensing or the creation of joint ventures (JVs). The bottom line is that we bought some foreign equipment, but with the condition of complete localization of production. An example is the gas pumping unit GPA-32 “Ladoga”, which we began producing in 2009. By the way, turbines are the “heart” of this equipment.

    But the unit was made under license from General Electric. The agreement implied that we would localize production and gradually begin to replace foreign components with domestic ones. The process was extended over time, but now localization is at the highest level. We can fully service the equipment ourselves.

    We also had a joint venture with the same Siemens. Our largest enterprises producing power machines organized joint projects with a German manufacturer in order to jointly create a certain product. We have arrived at 2022 with this reality.

    VZGLYAD: And at the same time, in Russia, were you engaged in your own developments in this industry?

    A.F.: We were working on it. There were prototypes; in the 2010s, our companies invested serious money in this, and the first progress could be observed back in 2021. There were even statements that the country would soon begin producing its own high-power units.

    I will say more - if we did not have our own developments, we would not now be able to boast of our own turbine. Carrying out this kind of work in two years from scratch is not impossible, but extremely difficult.
    However, it is worth noting here a contradiction that we have faced for many years. On the one hand, the state really wanted to develop its own production. But on the other hand, there were very strict requirements for compliance with tender procedures. Let me remind you that at the competitions the choice was made in favor of the cheapest, but at the same time the most effective offer.

    In this case, Siemens and other foreign players, who had not stopped production cycles for many decades, had a more advantageous position. They trained on dozens and even hundreds of projects, improving and perfecting their equipment. And Russia, having interrupted its own production in the 1990s, could not compete with such rivals. Our potential has seriously suffered in the first 15 years in the history of New Russia, and we are forced to admit this.

    VZGLYAD: At what point, in your opinion, did it become clear that completely relying on Western partners was a big risk?

    A.F.: Since 2014, high dependence on foreign components has been perceived not only as a geopolitical, but also as an economic risk. The fact is that Russia is a large market for energy complex equipment. We are constantly rapidly updating gas pipelines and gas pumping equipment, building oil and gas complex facilities, developing new fields, and practicing advanced solutions in the field of mining.

    Plus, not long ago the second program of power supply agreements (PDM-2) was launched, within the framework of which it was planned to modernize about 40 GW of thermal generation. And being in this position, we a priori had to think about producing our own equipment.

    At a minimum, this would create additional jobs, make it possible to open new schools and train specialists. Economic logic and the desire for technological sovereignty precisely pushed towards achieving self-sufficiency.

    And we have already approached 2022 with an understanding of the real picture. But our traditional relations with Western partners at that time were so captivating in their convenience that there was no full awareness of the whole problem.

    VZGLYAD: But due to the changed geopolitical reality, awareness nevertheless came. What do we have today?

    A.F.: Undoubtedly, it is very great that our production has coped with its tasks, albeit with a slight shift to the right. These solutions will be in great demand both in the domestic and foreign markets.

    Russia has serious plans both to update its capacities and to build new ones. Equipment installed in existing power plants and manufactured by companies from unfriendly countries will also require updating at some point. You will also need spare parts. Ultimately, sooner or later the units will simply need to be replaced.

    Now we have our own turbine, called GTD-110M. And judging by the stated parameters, this product meets all international standards. That is, it is not inferior to the solutions that could have been installed at our power plants if we had continued to cooperate with German partners.

    VZGLYAD: Can we now completely eliminate the participation of foreign players in our market?

    A.F.: I don’t think so. Not far from us there is a friendly state - Iran. Tehran also once collaborated with Siemens. But subsequently the company was forced to leave this market, but the equipment remained, as well as the production cycles. The Iranians studied this equipment, reengineered it and began producing their own products.

    Back in 2022, Russia signed an agreement with Iran on the supply of their power plants for the needs of our electricity generation. Apparently, Moscow will not yet rely exclusively on domestic equipment, because it still needs to be produced in sufficient quantities.

    We understand that we have a number of ongoing equipment repair and maintenance tasks that need to be addressed. It is impossible to shift the implementation deadlines in this matter. Therefore, we can use not only our technological solutions, but also resort to the help of friendly countries if such a need arises. I don’t see anything wrong with this; we also help them in many matters.

    https://vz.ru/economy/2024/5/10/1266826.html


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    Post  lancelot Fri May 10, 2024 7:29 am

    The GTD-110 (110 MW) gas turbine is a Soviet project that was further developed in the 1990s by Ukraine and Russia. The Ukrainians called this the UGT110000.

    Only two turbines were built. One was installed at Kaborga in Ukraine. The other at Komsomolsk HPP, located at Ivanovo in Russia.

    It was a joint project between Zorya-Mashproekt (Ukraine) and UEC-Saturn (Russia).
    From what I understand it had a lot of teething issues with reliability.
    The GTD-110M is supposedly a modernized variant by UEC-Saturn which solves those issues.
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    Post  GarryB Fri May 10, 2024 7:43 am


    A.F.: I don’t think so. Not far from us there is a friendly state - Iran. Tehran also once collaborated with Siemens. But subsequently the company was forced to leave this market, but the equipment remained, as well as the production cycles. The Iranians studied this equipment, reengineered it and began producing their own products.

    I don't see a problem there.... Siemens dropped the ball and Iran has expertise in making components for Siemens products so why not work with Iran and buy their spare parts to keep Siemens systems working in Russia until Russian turbines can replace them.

    As they replace the Siemens turbines they could donate them to Iran if they want them or even better collaborate with Iran and sell them Russian turbines to replace German turbines in Iran.

    Work on these more powerful turbines would be interesting for fitting to the Kuznetsov at some stage to replace the 8 existing boilers with perhaps a boiler/gas turbine mixed power supply... or maybe even converting it to nuclear power with their new compact nuclear power plants...

    Attaching powerful gas turbines to a nuclear reactor should allow more power generation... with the super heated water being supplied by a reactor instead of burning fossil fuels.
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    Post  kvs Fri May 10, 2024 8:05 am

    Yeah, BS, "supposedly". Because Russians cannot into tech. Making the GTD-110M sound like some hack of a 1980s prototype is absurd.

    People confuse the lack of Russian product penetration with lack of Russian mental capacity and established development potential.
    The usual fanboi tard-think. As the article outlines, the Russian government itself suppressed Russian production by establishing bidding
    processes where Siemens and GE could "out compete" Russian products. NATzO's stellar intellect masters of the universe deciders
    have sliced off their own access so all of the sudden Russian products can find Russian buyers.

    The line about problems and reliability issues is NATzO propaganda (which includes fellow travelers inside Russia). Nobody has demonstrated
    a single real world example of a failure of any Russian turbine that exposes real issues. All you have is BS articles creating a narrative chorus
    and obviously determining the opinions of the gullible media consumers. Problems in Ukraine are obviously irrelevant for Russia since Ukraine
    has been a NATzO captured state since the 1990s. You think that they would be honest about any real competition to NATzO's industry?
    Any collaboration with Ukraine by Russia does not magically transfer Ukrian problems onto Russia. Russia was giving Ukria charity until 2014.

    It is good to see that Russian companies did not roll over and die because of NATzO's dirty tricks. I think that assorted people in the Russian
    government going back to 1990 should be rounded up and shot for their high treason.





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    Post  lancelot Fri May 10, 2024 8:16 am

    If they wanted to use imported gas turbines they should have licensed the designs and serial produced them in Russia.
    Sometimes I think Putin is just too much of a free market capitalist for his own good.

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    Post  Rodion_Romanovic Fri May 10, 2024 10:01 am

    https://www.rt.com/business/597253-belousov-russia-economic-transition/

    Belusov, first deputy prime minister:

    Speaking at a panel session on efficiency and competitiveness at the international ‘Russia’ exhibition-forum, Belousov laid out a roadmap for implementing the long-term economic strategy announced by President Vladimir Putin earlier in the day.

    The key, according to him, will be a transition from a demand-driven to a supply-driven economy.

    “We need to create conditions in which the growth impulse will not be external, from monetary demand, but come from the production sector itself,” Belousov told the panel.

    Exactly the opposite of what is teached and done in the west.

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    Post  ALAMO Fri May 10, 2024 10:05 am

    No GDP growth because of debt emission?
    No GDP growth because of inflating prices?
    How unmodern!

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    Post  GunshipDemocracy Fri May 10, 2024 4:57 pm

    ALAMO wrote:No GDP growth because of debt emission?
    No GDP growth because of inflating prices?
    How unmodern!

    once commies always commies lol1 lol1 lol1 and growing.


    But Belousov is correct - in the capitalist globalist model, Russia has no place to be independent and developed. Then, a different development path needs to be followed, which appears to be the right one to me but also not strangely enough resembles communist planning.


    Last edited by GunshipDemocracy on Fri May 10, 2024 5:06 pm; edited 1 time in total

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    Post  ALAMO Fri May 10, 2024 5:05 pm

    GunshipDemocracy wrote:
    once commies always commies lol1 lol1 lol1

    I have a dog that can sell you for $1bln.
    Don't have?
    No worries!
    Let's trade it for two cats, half a bln each.
    And we will emit bonds to finance that, with a 20% cap.
    That will make a bln dog, a bln two cats, and a 20% cap - 2.4 bln.
    Economy, stupidos!

    ... how "make a tank"? scratch
    Two cats and a dog can shit into - why make one?!?
    We will make it in metazone, cloud.
    Battlefield win is just out there!

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    Post  GunshipDemocracy Fri May 10, 2024 5:10 pm

    ALAMO wrote:
    I have a dog that can sell you for $1bln.
    Don't have?
    No worries!
    Let's trade it for two cats, half a bln each.
    And we will emit bonds to finance that, with a 20% cap.
    That will make a bln dog, a bln two cats, and a 20% cap - 2.4 bln.
    Economy, stupidos!

    ... how "make a tank"? scratch
    Two cats and a dog can shit into - why make one?!?
    We will make it in metazone, cloud.
    Battlefield win is just out there!

    Then you lend me those 2,4 B on 5% so i can happily pay you back in yearly installments for 20 years. Paying with food, steel, services of course.

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    Post  ALAMO Fri May 10, 2024 5:14 pm

    We can even make a better trade!
    Let's use that 2.4 bln, for buying out declined mortgages, in packages -at 10% value!
    That makes 24 bln already, and we can emit more bonds having this honorable security!
    Oh oh oh, a lots of Dicks in the City gets hard, having this precious financial instruments at their hands!
    Does not matter, that the dog, and both cats, are already dead - instruments matters!

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    Post  GunshipDemocracy Fri May 10, 2024 5:25 pm

    ALAMO wrote:
    Oh oh oh, a lots of Dicks in the City gets hard, having this precious financial instruments at their hands!
    Does not matter, that the dog, and both cats, are already dead - instruments matters!

    As logn as TV and FB says so i believe!


    Mom to little son: Charlie if you wont stop lying you end up working for fact checkers !

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    Post  ALAMO Fri May 10, 2024 5:29 pm

    Laughing Laughing Laughing
    Good one! I own you! Laughing

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    Post  GarryB Sat May 11, 2024 12:38 am

    If they wanted to use imported gas turbines they should have licensed the designs and serial produced them in Russia.
    Sometimes I think Putin is just too much of a free market capitalist for his own good.

    AFAIK the Russians made their contracts with requirements for localised production which the western companies probably were quite happy with because production in Russia with lots of smart engineers and cheap energy and materials would likely generate more profit than their factories at home... but politics got in the way and transfer of technology didn't happen... likely blocked by the western companies or their governments.

    The irony is that now Russia is working on the problems for themselves they can apply new technologies and materials and likely end up with even better results.

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    Post  Kiko Sat May 11, 2024 11:49 am

    Belousov and Abramchenko were not included in the new cabinet of ministers, 05.11.2024.

    Belousov and Abramchenko did not join the government, they will move to another job.
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    Post  Kiko Sat May 11, 2024 2:39 pm

    Further details:

    First Deputy Prime Minister Belousov will leave the government, 05.11.2024.

    First Deputy Prime Minister Andrei Belousov will move to a new job.

    Andrei Belousov will leave the government. Denis Manturov has been proposed for the post of First Deputy Prime Minister instead, but the economic bloc, which Belousov oversaw, is planned to be transferred to Alexander Novak, who is responsible for the energy sector.

    First Deputy Prime Minister Andrei Belousov, who is currently working in an acting capacity, will move to a new place of work, according to a message received by RBC from the press secretary of the Prime Minister Boris Belyakov.

    Denis Manturov, who in the previous government was deputy chairman and head of the Ministry of Industry and Trade, has been proposed for the post of first deputy prime minister. “The increase in the status of the deputy prime minister in charge of industry is due to the importance of ensuring technological leadership, as stated in the new May decree signed by the president,” Belyakov noted.

    In the government, Belousov oversaw the economic bloc. Now it will be supervised by Deputy Prime Minister Alexander Novak, including issues of economic support and anti-sanctions measures, in addition to the energy sector, for which he was responsible in the previous government.

    It was proposed to leave the social block to Tatyana Golikova, still in the rank of Deputy Prime Minister. She became deputy head of government back in 2018, when Dmitry Medvedev was prime minister, and remained in the cabinet after the arrival of Mikhail Mishustin at the beginning of 2020. In the new government, she will continue to oversee the activities of the Ministry of Health, the Ministry of Labor, and the Ministry of Culture. The Federal Agency for National Affairs will also be under its jurisdiction.

    Dmitry Grigorenko will continue to oversee the financial, control and supervisory areas, but it is proposed to transfer digital development and communications, which Dmitry Chernyshenko was previously involved in, as well as antimonopoly policy, under his supervision.

    The Ministry of Finance will continue to be headed by Anton Siluanov, who has already held this position for a record period of 13 and a half years (since December 2011), Maxim Reshetnikov, who joined Mishustin’s cabinet in 2020, will remain the head of the Ministry of Economic Development, Anton Kotyakov will retain the post of Minister of Labor, who headed this department in 2020.

    https://www.rbc.ru/politics/11/05/2024/663f887b9a7947337eaf2eb3

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    Post  Kiko Sun May 12, 2024 2:45 pm

    Putin proposes to the Upper House to appoint several ministers of the new federal government 05.12.2024.

    Russian President Vladimir Putin presents to the Russian Federation Council the candidates for the posts of ministers of the new federal government.

    According to the current law, the President submits to the Federation Council (Upper House) the candidatures for holders of the Ministries of Defence, Interior, Justice, Emergencies and Foreign Affairs.

    Candidates for ministers of the new Government

    Andrey Belousov, for the Minister of Defence of Russia;

    Sergey Lavrov, for the Russian Foreign Minister;

    Konstantin Chuichenko, for the Minister of Justice;

    Alexander Kolokoltsev, for the Minister of Internal Affairs;

    Alexander Kurenkov, for the Minister of Emergencies.

    Yandex Translate from Spanish.

    https://latamnews.lat/20240512/putin-propone-a-la-camara-alta-designar-varios-ministros-del-nuevo-gobierno-federal-1150429173.html

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    Post  JohninMK Sun May 12, 2024 3:44 pm

    Fuller list of those whom Vladimir Putin proposed to appoint:

    The following are offered for consultation:
    – for the post of Minister of Internal Affairs – Vladimir Aleksandrovich Kolokoltsev;

    – for the post of Minister for Civil Defense, Emergency Situations and Disaster Relief – Alexander Vyacheslavovich Kurenkov;

    – for the post of Minister of Foreign Affairs – Sergey Viktorovich Lavrov;

    - for the post of Minister of Defense - Andrey Removich Belousov;

    – for the post of Minister of Justice – Konstantin Anatolyevich Chuychenko;

    – for the position of Director of the Foreign Intelligence Service – Sergey Evgenievich Naryshkin;

    – for the position of Director of the Federal Security Service – Alexander Vasilievich Bortnikov;

    – for the post of Director of the Federal Service of National Guard Troops – Zolotov Viktor Vasilievich;

    – for the position of Director of the Federal Security Service – Dmitry Viktorovich Kochnev;

    - for the post of Head of the Main Directorate of Special Programs of the President - Alexander Leonidovich Linz.

    Senators will hold consultations on the candidates proposed by the President at committee meetings on May 13 and at a meeting of the Federation Council on May 14.

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    Post  JohninMK Sun May 12, 2024 3:47 pm

    Plus

    Putin proposed reassigning Zolotov to the post of head of the National Guard.

    Edit

    The Federation Council received a proposal from President Vladimir Putin for the appointment of Boris Kovalchuk to the post of Chairman of the Accounts Chamber of the Russian Federation.

    Putin appointed Shoigu Secretary of the Russian Security Council. Nikolai Patrushev has been relieved of this position. Patrushev’s new position will be known in a few days, Dmitry Peskov said. Gerasimov remains the head of the General Staff; no changes are envisaged here.

    A good post with background info here https://www.zerohedge.com/geopolitical/putin-unveils-dramatic-reshuffling-closest-advisors-shoigu-out-defense-minister

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    Post  franco Mon May 13, 2024 4:27 pm

    From January to April of this year, the Russian budget received an additional 4.2 trillion rubles in revenues from the sale of oil and gas abroad. This is 82.2% more than in the same period last year.

    Such an increase in income was made possible thanks to the rise in price of Russian oil, as well as the receipt in February of an additional payment for the mineral extraction tax on oil for the fourth quarter of last year in connection with the revision of legislative norms regarding the reimbursement of excise taxes on petroleum raw materials.

    In addition, according to forecasts of the Russian financial department, a further rapid increase in export payments from the sale of hydrocarbons is expected in the coming months.

    At the same time, the growth of non-oil and gas revenues in the first quarter of 2024 increased by 36.8%, amounting to 7.5 trillion rubles. The increase in turnover taxes (including VAT) reached 25.4% compared to the same level last year.

    In general, Russian budget revenues from January to April amounted to 11.7 trillion rubles, an increase of more than 50% compared to the first quarter of 2023. Apparently, rapid growth in treasury revenues may become a long-term trend.

    At the same time, the Russian budget deficit for the same period is at the level of 1.5 trillion rubles, which is the same amount less than in January–April 2023.

    https://topcor-ru.translate.goog/47383-rossijskij-bjudzhet-poluchil-vnushitelnyj-rost-dohodov-za-pervye-4-mesjaca-2024-goda.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

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    Post  Kiko Fri May 17, 2024 2:53 pm

    Danone sold its business in Russia, by Valeria Gorodetskaya for VZGLYAD. 05.17.2024.

    Danone sold its Russian business to Vamin R from Tatarstan.

    The French company Danone announced the completion of a transaction to sell its Russian business to Vamin R from Tatarstan, according to a Danone press release.

    The deal to sell the EDP business in Russia to Vamin R LLC, approved by Russian regulatory authorities in March 2024, is closed, according to Danone’s statement, RIA Novosti reports .

    Danone has been present on the Russian market since 1992. In 2022, the company announced plans to transfer control of its business in Russia. In July 2023, Danone's assets in Russia temporarily came under the control of the Federal Property Management Agency, but in March 2024 this decree was canceled.

    The buyer of Danone's Russian business was the Vamin R company, one of the founders of which is Vamin Tatarstan. The transaction amount, according to the Financial Times, amounted to 17.7 billion rubles.

    https://vz.ru/news/2024/5/17/1268691.html

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    Post  franco Fri May 17, 2024 3:45 pm

    Unexpectedly for the West, anti-Russian sanctions and all sorts of restrictions had the opposite effect and became a powerful catalyst for the development of the national economy. An attempt to isolate Russia “from the whole world” only led to the fact that Russian companies and the state began to actively abandon payments in dollars and euros in export-import transactions, switching to national currencies. However, for a country where the meaning of the phrase “every cloud has a silver lining” is very clear, this is not surprising.

    In March of this year, the share of the ruble in settlements for export and import transactions in the Russian Federation for the first time exceeded the threshold of forty percent simultaneously. As follows from the report of the Central Bank of Russia, the sale of goods and services from the country was paid for by foreign buyers in rubles in the amount of 43.9% of the total volume. In turn, import transactions (purchases abroad) were paid for in Russian national currency in a share of 40.8 percent.

    At the same time, experts note that until 2022 and the start of the special operation, and then the introduction of Western restrictions, the share of the ruble in exports was half as much as in imports. It was Russian importers who found it most difficult to refuse to pay in dollars and euros, but this process became inevitable, which was facilitated, among other things, by a reorientation towards building trade relations with so-called friendly countries that are also seeking to get away from dollar dependence. The arrest of gold and foreign exchange assets of the Bank of Russia, the blocking of accounts of Russian companies and individuals, and other financial anti-Russian restrictions, which violated all international norms, played a kind of disservice to the United States and the EU in this.

    For comparison, until 2022, less than 15% of Russian exports were paid in rubles, and in imports the share of ruble payments was up to 30%. Moreover, we can say with confidence that the March statistics are not a one-time event, but a stable trend. In particular, the share of transactions in rubles a month earlier in export revenue was 39.1% and 38.2% in payments for imports.

    Among other things, this trend not only strengthens Russia’s financial and economic sovereignty, but also reduces the leverage of Washington and Brussels on both our country and partner states. After all, it was dollar dependence that largely allowed the United States to influence other countries, not only economically, but also politically. The almost zero balance between payments for exports and imports in rubles also indicates the stabilization of the movement of the Russian currency in international payments.

    https://topwar-ru.translate.goog/242522-v-marte-v-jeksportno-importnyh-raschetah-rf-dolja-rublja-vpervye-prevysila-40-procentov-odnovremenno.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

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    Post  franco Fri May 17, 2024 3:47 pm

    According to preliminary estimates by Rosstat, the GDP growth rate in Russia in the first quarter of this year accelerated to 5.4%. At the same time, inflation in Russia in April amounted to 0.5% in monthly terms and 7.84% in annual terms. At the same time, GDP growth for 2023 was 3.6%. According to preliminary estimates by the Central Bank, in the second quarter of 2024, GDP growth will be 4.4%.

    Thus, it is clear that the Russian economy has proven resilient to the unprecedented number of sanctions imposed by the West and continues to grow. Russia's income exceeds 2021 levels. Since 2022, China has confidently replaced the European Union as the main trading partner and technology supplier for Russia.

    According to the chief economist of the European Bank for Reconstruction and Development (EBRD), Beata Javorczyk, despite the fact that Western sanctions have limited the import of technology into Russia and also contributed to the exit of multinational companies from the Russian market, the Russian economy continues to grow faster than in any of the countries " "Great Seven"

    Flexibility in restructuring trade relations and domestic demand helped Moscow successfully overcome Western sanctions. At the same time, the growth of military spending played an important role in the growth of the Russian economy.

    According to economists' forecasts, by 2030 the Russian economy may overtake Japan in terms of GDP calculated at purchasing power parity, having fully adapted to the ongoing structural changes.

    https://topwar-ru.translate.goog/242614-rost-vvp-v-rossii-v-pervom-kvartale-uskorilsja-do-54.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

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    Post  Hole Fri May 17, 2024 4:18 pm

    by 2030 the Russian economy may overtake Japan in terms of GDP 
    Already done in real economic terms = without taking into account the typical western financial voodoo
    (FIRE sector "growing" thanks to creating money from thin air and so on).

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    Post  franco Sun May 19, 2024 6:33 am

    Russia has ranked tenth among the world's major economies in terms of growth in dollar terms since the beginning of the 21st century. This is stated in data from the International Monetary Fund and the World Bank.

    As RIA Novosti clarifies , the data is given for economies with a GDP size of $100 billion or more. At the end of the last century there were 35 of these, and at the end of 2023 - 68. Thus, the Russian Federation’s GDP over the past 23 years has grown 7.7 times - from $260 billion to over $2 trillion.

    At the same time, Ethiopia's economy grew the fastest - 19.4 times, its GDP reached $160 billion. China took second place in terms of growth, whose GDP increased 14.6 times to $17.7 trillion. Kazakhstan takes third place with $261 billion; the country's GDP grew 14.2 times.

    It is also noted that among the BRICS countries, the GDP of India grew rapidly - by 7.6 times, Brazil - by 3.3.

    And only one country’s GDP has decreased since the beginning of the 21st century, and that is Japan. Its economy has fallen by 15%, with a GDP of $4.2 trillion.

    https://iz-ru.translate.goog/1698741/2024-05-19/rossiia-voshla-v-top-10-po-tempam-rosta-ekonomiki-v-xxi-veke?main_click&_x_tr_sl=ru&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp

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