How’s Russia’s Economy Actually Doing?

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Published 2024-08-01
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Data suggests that the Russian economy has held up pretty well considering its military spending and Western sanctions. But can we trust their numbers? If we can, what is driving their apparent economic over-performance? And can they keep sustaining it?

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1 - www.theguardian.com/commentisfree/article/2024/jul…
2 - www.nytimes.com/2024/06/12/us/politics/us-russia-c…
3 - cepr.org/system/files/publication-files/203674-pol…
4 - www.ft.com/content/42b53987-8280-469e-8014-9ddb0c9…
5 - www.bbc.co.uk/news/business-68823399
6 - links.org.au/russias-delinking-west-great-equalize…
7 - www.ft.com/content/3e2b2e63-082e-4058-ba92-dea580d…
8 - tradingeconomics.com/russia/inflation-cpi
9 - en.wikipedia.org/wiki/List_of_sovereign_states_by_…
10 - www.intellinews.com/russia-could-pay-off-its-entir…
11 - links.org.au/russias-delinking-west-great-equalize…
12 - www.komersant.info/en/dobrovoltsi-zakinchuiutsia-r…
13 - x.com/wartranslated/status/1818555523047776282/pho…

All Comments (21)
  • @AeSyrNation
    The "record low 2.3% unemployment" sounds good until you notice that there's just no one to work. Russia is experiencing an unprecedented workforce deficit due to both low birthrates and dead conscripts
  • Don't forget that the Soviet Union was reporting GDP growth trough the 80's and then just went bankrupt.
  • @mrreziik
    Well using the propaganda numbers it looks good, but we really trust that a country with almost 20% interest rate has low inflation??
  • @HypaxBE
    With Russia's track record of telling lies, I don't understand why any credibility is given to the numbers they are providing right now, they have 0 motivation to be honest about it. Glad to see this topic return to TLDR, hoping for more :)
  • @adam-k
    GDP is not an accurate measure of a wartime economy. If the half the production of Russia's economy is weapons and then they are burned in Ukraine. It will show up as a massive economic output. However the benefit of that output will never be realized. It is like saying a car manufacturer is very successful because it produces a million cars a month. But then every single car is driven into a chasm before it gets sold.
  • You state that the IMF predict growth for Russia next year but of course they are using the figures given to them by the Russians . You might also ask if the Russian economy is doing so well and inflation is at the rate they claim why are the interest rates now approaching 20%
  • The best way to describe the Russian economy right now is if a person with diabetes got his hands on tons of sweet candy and has a huge sugar crash and is hyped up to the max, like on steroids, so he feels fantastic at the moment. The problem lies in the long term - what happens when he runs out of sugar, dopamine goes down and health problems catch up with him. (The analogy taken from a podcast with a Russian economist)
  • The IMF and World Bank use the numbers, presented by Rostat. No surprise their analysis will correspond closely with what Russia wants to paint as the picture. Rhis is circular way of thinking. Maybe that was a part that should not have been TLDR'd. Generally I like this channel. But this was a big miss.
  • @SimplyVanis
    Russian economy is booming in the same way as if we all started to break the glass of our house windows. Economy would start to boom, glass businesses would even becoming the most profitable business in the country... It would boosts the economy, but how many windows can we smash before we all go broke and we all are left with buildings with smashed windows?
  • @zax1998LU
    I see today's editor is an always sunny fan.
  • @bikkiikun
    Imagine how much better off the Russian people could have been without this war, had Russia invested all this cash into its industy and infrastructure. But alas, battlefield stories are far more intersting than a ribbon cutting on a new strech of road or a bridge somewhere in the countryside.
  • @Blackfatrat
    Please vary your outros more. I feel like I'm getting insane by hearing the same thing every single time so often.
  • By all accounts, (see Russian Dude and Inside Russia) to name just a couple, true inflation is over 30%
  • Military spending is te worst way how to boost your GDP. War is like throwing money out of window and counting it as a revenue.
  • @exploshaun
    A dumb person would give up. A smart person would use it as an excuse for more sanctions.
  • @SC_14
    I wish TLDR would post more content on the Ukraine war. It’s been overshadowed by the war in Gaza.
  • @Dread_2137
    How bad in russian economy? Larger and larger spending on army and 3rd largest interest rates in the world tell us everything we need to know. They're going back to USSR in 1980s.