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Economically 2013 was a year of broken illusions for Russia. GDP added just 1.3 percent, while everybody expected an average growth of 4 percent.
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@Jere, How nice to read that this was the funniest thing you have read in 2013! You obviously doesn't have access to many funny stories in your life! But by the way, how did you figureout that I have 27 personalities? You must also be Clearvoiant, so maybe we'll meet at the doctors office?
"Here is a qoute from an unknown source" Allthough the crowd clapped furiously! They did not see the Joke!
Hopefully you will get an even funnier 2014?
The US as well as many EU country's economical growth is artificial and only based on huge financial liabilities they are never able to repay. In the case of the US, the dept is held by the Chinese who rather sooner than later will increase their political demands before they continue financing and inflating the Bush&Obama bubble.
Sti ll, it will burst because this model of maniatic deficit spending is not sustainable.
The Russians in this regard are way more cautious and careful. Neither do they depend on foreign money nor do they have their livelihood put onto just another bubble ready to burst.
Those loans to third world countries are an heritage from the USSR. But some of those countries are far from being broken. For example, Angola is now thriving with an income per head close to South Africa. Cuba is growing 5% a year, and probably on the midterm the U.S. embargo will end, so Russian companies with a foot in Cuba (from energy to telecom) will be well placed (same as Canadian or Western European companies)
Icebreaker s are essential for reasons of Russian national sovereignty, and also for the increasing Artic Trade between China and Germany.
Looks like they did Pretty Well on the Global Political Front even so
1. Cut inflation
2. Cut inflation
3. Cut inflation
[quote name='vann.tedd' time='27.12.2013 20:52']Russia is also wasting many billions on its Oil and Gas projects. Like drilling in the artic and building a huge fleet of nuclear Icebreakers. Russia at the moment have more Icebreakers that all world powers including US *combined*. They also losing a lot in loans to third world nations with broken economies ,that later they end forgiving its debt.
Inves ting in oil and gas projects is essential for Russia, as for any other nation. And icebreakers are needed to keep control of 20% of Russian territory. A matter of sovereignty.
If Russian inflation falls to 3%, the Russian economy will grow 4% as the Russian Central Bank could cut interest rates.
If low growth comes hand by hand with low inflation, it couldn´t be much of a problem as the Russian Central Bank could cut interest rates. What Russia needs is lower inlfation so the Russian Central Bank can increase the money supply and Russian citizens can buy more houses and cars (with credit)
Low growth with an still high (6.1%) inflation means that Russia needs more competition in several areas where prices are too much high compared to the average level of life of Russian citizens.
Russia continues to kick out troublemakers & underhanded NGO spies bent on destabilizing it & it is clear that western countries feel threatened by Russia's strong independent leadership, so far removed from the stranglehold the corrupt, money printing bankster-owners of the Fed continue exercising on the US and which of course, Putin long since sent packing. Putin himself admits there are many areas that need improving in his country, because he is practical & does not suffer from 'exceptionalism' syndrome, which seems to plague the current US administration so badly that Obama had to go recuperate in Hawaii. He he!
Information above speaks the economic truth, but not only me but many feel 2013 thrust Russia mainstream & centre world stage! Pres Putin was nominated for the Nobel Peace Prize & accolades continue for the way FM Lavrov doggedly stuck to his guns in Syria. The world was greatly impressed at how Russia avoided a highly probable WW3 in Syria & then Russia's treatment of Snowden drew admiration & Sochi comes up in Feb too! Russia is seen as a principled county & Putin an ace diplomat, a rare & true statesman. Then too, RT's honest reporting, much treasured after the NSA revelations - all of lasting benefit for Russia.
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Russia’s ‘gambling on stability’ fails, growth forecasts take a haircut
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