Russian Economy General News: #11

Austin wrote:IBM doubts Rosatom’s ability to create a quantum computer

https://ria.ru/20200220/1565002504.html

The Russian Railways decision appears to lack foresight, and shows that short-term interests are being pursued to defend assets that are currently present, as the company is owned by the Russian state. It probably was made by the leadership of the company, and was made not at the discretion of the Russian government, as it does, in fact lack foresight and appears to cave in to US sanction threats.

Austin wrote:Siluanov:there is enough money in the budget for four years, even at an oil price of $ 30 per barrel
     
In the spring, the Ministry of Finance will revise the forecast and budget parameters for 2020, taking into account the consequences of the spread of coronavirus, the head of the ministry Anton Siluanov said. According to him, even with an oil price of $ 30 per barrel, Russia will be able to finance all budget expenditures for four years.

“Our budget is protected, reserves are created. The budget was always such a source of instability, because there was no money, expenses were reduced. Now we, at an oil price of even about $ 30 per barrel (I fantasize), will quietly finance our expenses for four years, ”he said (quote from TASS ).“ But I’m sure there shouldn’t be such a long time for low oil prices. Because the cost of production of a number of deposits, primarily shale, is still higher. "

He noted that the price of oil affects the ruble, but the budget rule holds back the weakening of the national currency.

kvs wrote:

Austin wrote:Siluanov:there is enough money in the budget for four years, even at an oil price of $ 30 per barrel
     
In the spring, the Ministry of Finance will revise the forecast and budget parameters for 2020, taking into account the consequences of the spread of coronavirus, the head of the ministry Anton Siluanov said. According to him, even with an oil price of $ 30 per barrel, Russia will be able to finance all budget expenditures for four years.

“Our budget is protected, reserves are created. The budget was always such a source of instability, because there was no money, expenses were reduced. Now we, at an oil price of even about $ 30 per barrel (I fantasize), will quietly finance our expenses for four years, ”he said (quote from TASS ).“ But I’m sure there shouldn’t be such a long time for low oil prices. Because the cost of production of a number of deposits, primarily shale, is still higher. "

He noted that the price of oil affects the ruble, but the budget rule holds back the weakening of the national currency.

Monetarist twats endlessly chirping about the weakness of the ruble.   A "weak" ruble gives Russian producers stimulus by increasing
exports.   Since Russia does not depend on imports, the "weakness" of the ruble has no negative impact on its economy.  

BTW, this endless drivel is a type of 5th column propaganda since many sheep think that the forex determines the absolute
value of a currency and the economy.    They dismiss PPP corrections and think that some fuckwad currency speculators know
more about the domestic economy than actual experts living there.

You are correct. Russia has very little external debt and foreign reserves of $560 billion. The only one affected by a weakening ruble are rich Russians who love to travel abroad and purchase foreign luxury goods. The kind of voters who live in downtown Moscow and vote for Navalny.

kvs wrote:

Cargo rail car output in the USSR and Russia over the last 91 years.   Russia is exceeding both the peak volume and
sustained production of the whole of the USSR.   This is on top of the massive overhaul of the Russian passenger
rail car stock.