Russian Economy General News: #13

The pathetic shit of some pro-Western moron who is trying to imagine the situation in Russia worse than it really is. Why is there no point in median salary data? Simply because until now a significant part of those employed in the private sector receive "gray" or "black" salaries.

I disagree, what they are talking about is a more fair way of determining salary comparisons... as they mention if you take a company like Amazon where the boss is worth 120 billion and his salary is probably enormous, but it is also a huge company where you have thousands of minimum wage drones picking products from warehouses and sorting orders together and then shipping orders to customers, when you spread the billions being made by the company and take out the enormous wealth the investors are getting from the process and just look at the salary fraction of the costs of the business, a few very well paid CEOS and managers getting amazing salaries for doing **** all with everything paid for, company car, parking space, power lunches paid for by the company with potential clients when most of the time they are friends and family etc etc, and the majority of the people who work for the company at minimum wage working long hours for **** all pay see the average wage in the company is $300K per year they really don't have any trust in the system at all... they will either think it is bullshit, or they will think everyone else is getting paid way more than they are... neither of which is a good thing for the country.

With 20,000 workers, of which 4 are making millions per year and 200 are making 100Ks per year and the other 19,796 are on minimum wage with not perks and no time off and not time off if you get sick or you will get fired, then the average salary for that company really should be minimum wage.

Looks bad.... BECAUSE IT IS BAD.

Incomes should reflect the performance of the company... when you make 50 billion per year, how about instead of the boss getting it and the investors getting a large chunk of it, how about the workers get bonuses for the work they did to achieve that... and obviously money for a rainy day and investment in new equipment and toolings and systems to improve performance and quality of product etc, but the reality is that in the west if a company does well the investors make a dividend and the bosses go on expensive holidays and a few new machines are bought a few new buildings are built and the guy on minimum wage on the front line dealing with the customers gets minimum wage.

That is the core problem with western based economics, the workers have no rights or power, and the managers and investors keep most of the money generated by the organisation.

For the purposes of finding problems and fixing them a measure that shows lower numbers is better because it identifies problems that need attention... having averages means you can pretend everything is fine... that minimum wage worker is on an average $300K per year... why are they protesting and wanting a pay increase?

Most people don't understand properly what average means... It does not mean one or even no one earns that and half the workforce earns more and another half earns less. In the example I gave above of 20K workers, 204 would earn well above the average and it is their salaries that make the average salary look good, while the vast majority of the actual workers doing the actual work earn the minimum the government allows the company to pay them.

Obviously not all companies are bastards... but when the richest ones do it... and that is how they get rich... then it becomes accepted business practise so everyone can be bastards and just say that is how everyone does it to succeed.

In the 1950 in the US they had business picnics and helped the families of workers get education and healthcare and other support... these days they don't give a ****... Russia can learn from the west about what not to do and in the area of economics there is plenty to learn not to do...

If Russia uses the same whitewash tools to prove everything is rosy and everything is great then they will end up headed in the same direction as the west with a few billionaires and the rest poor... how long can the US continue.... they print their own money for fucks sake and yet it seems only the rich make money with wars and internal conflict. The rich control the media and the media are pushing the alphabet people to say and do stupid things... when a colonial white european power wanted to control a country they would normally pick a weak group that has been oppressed and put them in power. Such people would be happy to abuse and beat the rest of the population because of their previous treatment by that population, but equally their position of power is only because of that colonial power, so the colonial power gets a local force that is totally loyal to them that will murder their own people if that is needed to keep order so that colonial power can set up companies to extract the oil or gold or what ever they are in that country to steal.

In Saudi Arabia that was 100 years ago.... the Saudi Royal family are not thousands of years old, they are just over 100 years old.

So what is happening now... a new victim section of the community (alphabet people) is being given power and attention via the media that the rich and powerful control in the west... they are doing to their own countries what they were doing to the third world... will be funny if the alphabet people realise what is happening and say... hey, this is not about racism, or sexuality... this is about the very rich and powerful distracting the poor majority from their real problems and to have them squabbling amongst themselves. If they realise that they might start acting against the media and the wealthy and real solutions might start becoming possible.

You never find a solution when you don't see the real problem.

Using average salaries is a great way to make everything seem rosy, and in some companies it might actually be a fair system of measure because there are no minimum wage drones and everyone has an important job that is well paid, but most of the time it is dishonest.

Ask yourself what the average person of your nationality is... height, weight, gender... pick any of those and half the population are not average... do it properly and you will find no one is average... a class of 10 people if you measure their heights you might find no one in the class is the average height and that is the point... average is to represent the entire class with one value and is never meant to identify all ten people in that class or be used as an example of every person in that class.

@GarryB
I didn't talk about any whitewashing of the data. I pointed out the obvious need for adjustments, since by focusing only on taxable salaries, you cannot get real data. You think it's bad to get big numbers - but it's just as bad to get smaller numbers. Both of these cases are INCORRECT data. At the same time, the article calls for the receipt of INCORRECT data, which are only more convenient to correspond to the general Western narrative that the Russian economy is bad.
I cited data from monitoring the real situation in Russia. The level of income must be calculated based on the level of consumption - these data are currently more correct for assessing the Russian economy. You can offer a better model, but just don't say that we need to move from some incorrect estimates to other incorrect estimates.

If in 2013 the share of Russian agricultural machinery in the domestic market was 24%, then in 2022 this figure exceeded 60%. The quality of equipment manufactured in Russia has also noticeably improved, - the Ministry of Industry and Trade of Russia reported. - The same trend is in food equipment: if in 2014 the share of domestic equipment was 12%, then by the end of 2022 it is 55%. We switch buyers to the purchase of Russian equipment and machinery

The Bank of Russia has expanded the publication of indicators on international reserves of the Russian Federation. This was announced on March 22 by the press service of the regulator.

"The format of the monthly publication has been updated starting from the data for March 1, 2022," the report says.

It is noted that as of March 1, 2023, international reserves amounted to $574.2 billion. Of these, foreign currency is $410.6 billion and monetary gold is $135.5 billion. At the same time, the Central Bank does not indicate how much of the assets are frozen as a result of sanctions.

On February 6, it was reported that China in 2022 for the 17th time in a row became the owner of the largest gold and foreign exchange reserves in the world (at the end of December, the figure was $3.31 trillion), Japan is in second place ($1.27 trillion), Switzerland is in third place ($924 billion), and Russia is in fourth ($582 billion), followed by India ($563 billion).

Gold and foreign exchange reserves in the world in 2022 fell by $1 trillion. Switzerland, Japan, and Singapore have the most depleted reserves.

At the end of January, Evgeny Shatov, partner of Capital Lab, in a conversation with Izvestia, noted that the growth in the cost of gold and the strengthening of the yuan against the dollar led to a positive revaluation of Russia's international reserves, as a result of which their volume increased.

In March 2022, Russian Finance Minister Anton Siluanov said that Western countries froze about $300 billion of Russia's gold and foreign exchange reserves (about half of their volume) in connection with Russia's special operation to protect the Donbas . He stressed that the country has enough funds necessary for the production of goods.

https://translated.turbopages.org/proxy_u/ru-en.en.4d11f1a4-641b4f3f-09338f66-74722d776562/https/iz.ru/1487037/2023-03-22/bank-rossii-vozobnovil-publikatciiu-dannykh-po-mezhdunarodnym-rezervam?utm_source=iz&utm_campaign=vidjet&utm_medium=3&utm_content=1487037

KVS will get a stroke after seeing your post.

Don't even try to attribute inflation decline in Russia to Nabiullina.   The "logic" of such fapping for this old broad would imply that
a prime rate of 20 or 30% would be even better for the Russian economy.  

It is clear some people don't have a grip on a sufficient number of facts relevant to this issue.   The CBR before 2010 was doing a
vastly better job and Russia would have been f*cked up if Nabiullina and her monetarist clowns were in charge then.

The CBR before 2010 was doing such a great job that the Russian financial sector at the time was nothing but a franchise of the US and EU one. When the crisis hit in 2008 Russia took a huge hit and its reserves were barely enough to manage.

Under Naibullina, perhaps the fiscal conservatism and hoarding of reserves has proved unnecessary in retrospect, but much better to be safe than sorry. Putin himself said that he was surprised how well the Russian economy weathered the artificial crisis the West attempted to plunge it into last year. Everyone was surprised, Naibullina herself no doubt too. But no-one knew beforehand how bad it would be, and certainly it was thanks to Naibullina among others that the recession has been so mild and the period of rising inflation has proved so brief. The reserves, just by virtue of existing, have probably boosted domestic confidence among businesses and investors, even if they didn't have to be ultimately used.

https://cyberleninka.ru/article/n/influence-of-the-central-bank-s-anti-inflationary-policy-on-russias-economic-development

Why high interest rates and fixation on the CPI are detrimental to Russian economic development. The CBR before Nabiullina
took over was run based on reality unlike now when it is run on monetarist dogma.

The prime rate has to be tied to the current inflation rate with a small spread. This forces businesses to invest
in production upgrades and adapting to more efficient operation instead of parking money in banks to cream interest "earnings".
High interest rates also suppress business development by constricting financing for essential retooling and upgrades. The negative
effect on capital investment is quadratic.

The Russian government has never operated like the US and its minions with massive funny money injections. The inflation surge
in the west has the result of US printing trillions of dollars of M1 supply over a three year period. There was not enough capacity
for this amount of dollars to be sterilized in the US and abroad. The coof related supply chain disruptions were the worst combination
for money printing. The sanctions on Russia were the cherry on top of this turd cake.

Nabiullina acts as if Russia has the US money printing disease. She's in the wrong country.

Russian commodity exports in 2022 set a historical record, reaching a value of 591.5 billion dollars. The surplus of trade in goods also turned out to be a record — 332.4 billion.

At the same time, imports of goods to Russia decreased by 11.7%.

This follows from the data published on March 13 by the Federal Customs Service (FCS) on foreign trade for the past year.

https://rossaprimavera.ru/news/41dc9363
A four-lane highway between Mariupol and Donetsk has been launched
March 19, 2023

The four-lane highway between Mariupol and Donetsk has already been launched, the journey time is less than an hour, Deputy Prime Minister of the Russian Federation Marat Khusnullin said on March 19 during a report to Russian President Vladimir Putin on the restoration of the city.

Khusnullin said that in 2022 the four-lane Donetsk-Mariupol highway was completely restored.

“Before that, there was a two-lane road - in some places there were four, right in some places. She was in a very bad condition. Now a full-fledged road between Mariupol and Donetsk. Driving at good speed is less than an hour. This road has already been completed ,” the Deputy Prime Minister said.

He also added: “This year we are planning five bridges for 54 kilometers of roads, last year we made 35 kilometers and two priority bridges. ”

According to him, work in the city goes around the clock. This is where the largest construction site took place.

Recall that Vladimir Putin flew to Mariupol by helicopter, then drove around the city for several hours, accompanied by Khusnullin.

Lots of countries around the world will appreciate this too, where the US and Europe have held them hostage over medicine and blockades... Iran, Cuba, etc etc...

Would be good to see the BRICS countries get together and really work together on medicine for cures as well as treatments and to reduce costs in healthcare so more people can get access to decent healthcare that is affordable.

Proper government funding so drugs are effective and safe rather than dangerous but profitable.

Russia makes payment on sovereign debt

Russia’s Finance Ministry announced on Friday it has settled two issues of dollar-denominated Eurobonds “in full” by sending 17 billion rubles ($221.1 million) in coupon payments to the National Settlement Depository (NSD).

According to the ministry, the payments were on Eurobonds maturing in 2030.

“Thus, obligations on servicing the state securities of the Russian Federation were fulfilled by the Finance Ministry in full,” the statement said.

The payments were made under the mechanism that enables transactions in rubles that was introduced last June, in response to Western sanctions and US attempts to prevent Russia from making debt payments in foreign currency.

Moscow accused Washington at the time of trying to engineer an artificial default, since the country was fully capable of paying its debts.

The mechanism has allowed Russia to pay its foreign-currency debt obligations on time.

https://www.rt.com/business/573930-russia-makes-payment-sovereign-debt/

Meanwhile, the country’s (Russia) total national debt amounted to 22.82 trillion rubles ($302.7 billion) last year, putting the debt-to-GDP ratio at 17.1%, down from 18.1%. (from post #164)

versus

Germany’s public debt reached a new record of €2.37 trillion ($2.6 trillion) at the end of 2022, data released by the Federal Statistical Office (Destatis) on Wednesday showed.

The debt owed by the overall public budget to the non-public sector rose 2% year-on-year, or by €46.1 billion ($50 billion), compared to 2021. Destatis attributed the increase to emergency measures during the Covid-19 pandemic and the energy crisis.

Compared to the end of the third quarter of 2022, debt soared by 1.8% or €41.9 billion ($45.5 billion), raising concerns over its impact on the German economy and financial stability. Per-capita debt amounted to €28,155 ($30,600) representing a growing burden on the population.

Spiraling inflation, a raging energy crisis and expectations of a further slowdown in the EU’s largest economy have eroded consumer activity, posing a threat to economic prosperity.

Economists say that the surging debt owed to the non-public sector illustrates the challenging economic conditions faced by Germany due to the pandemic and the energy crunch. The non-public sector includes banks and other domestic and foreign economic sectors, such as private businesses in Germany and abroad, according to Destatis.

The government’s efforts to mitigate the impact of these crises have led to a significant increase in public borrowing. German Finance Minister Christian Lindner earlier said the government needed to limit its spending, meaning the state will not be able to quickly solve current economic problems such as falling levels of wealth.

Germany, which relies mainly on natural gas to power its industry, has been struggling to cope with skyrocketing energy costs. The nation has vowed to replace imports from its once biggest supplier – Russia – by as early as mid-2024. However, attempts to diversify gas supplies have contributed to the energy crunch.

https://www.rt.com/business/573859-germany-debt-record-high/

Engineered default is funny. What does it matter to Russia if it defaults on payments to NATzO creditors? Is its credit rating going
to tank?

The hubris in NATzO elites is in the terminal brain rot stage.

Russia is being very generous playing by some rules that NATzO itself does not abide.

Morons such as Moe (part of the same trio with Larry and Curly?) never update their views down the line. They just move on to spewing
more BS.

David?

More like Ho...

Amusing that he thinks that all 200K that left Russia are educated... more likely 200K US funded Russians left... and good riddance... it is the rats that are leaving the sinking ship, but the ship isn't actually sinking... just a really good way of getting rid of the rats.

Of course they are educated. Most to all Russians are when their education is mostly funded by the state.

200,000 Russians who left are of no importance to Russia. They weren't gonna be a benefit to the country and already had their sights on leaving. So who cares?

Hopefully they stay out, the less traitorous 5th/6th columnists in Russia the better.