The fate of the world's currencies in the wake of the demise of the dollar. - page 48
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
In 1917 there was a 100% change of elites, in 1991 almost 100%.
It's like a parallel reality. Or did you get two zeros wrong?
The Russian economy is the sixth economy (according to 2016 data) among the countries of the world in terms of GDP at PPP.
Russia's GDP at PPP in 2016 amounted to $3,800 billion.
The nominal GDP of Russia for 2016 amounted to 1281 billion dollars. According to this indicator, Russia ranks 12th in the world.
In terms of GDP at PPP per capita, Russia in 2016 ranks 48th.
Despite the fact that, according to data for 2016, Russia's population was about 2.0% of the world's population, the country's contribution to the global economy reached 3.2%.
At the same time, the share of Russian financial instruments in total world assets amounted to about 1.0%.
In the 1990s, the economy of the USSR (RSFSR), and then Russia, experienced a deep recession, accompanied by a surge in inflation, a decrease in investment, an increase in external debt, barterization of the economy, a decrease in household incomes, and many other negative phenomena. During this period, a number of economic reforms were carried out, including the liberalization of prices and foreign trade, mass privatization. One of the results of the reforms was the transition of the country's economy from planned to market economy. In the 1990s, the growth of the gap in the economic development of the country's regions was also determined.
In the 1990s, the level of taxation of individuals and legal entities in Russia was overstated and, despite the constant tightening of tax legislation, enterprises engaged in massive tax evasion. In the 2000s, Russian President V.V. Putin signed a number of laws that amended tax legislation: a flat personal income tax rate of 13% was established, the income tax rate was reduced to 24%, and a regressive scale was introduced unified social tax, turnover taxes and sales tax were abolished, the total number of taxes was reduced by 3 times (from 54 to 15). In 2006, Deputy Minister of Finance of the Russian Federation Sergey Shatalov stated that during the period of tax reform, the tax burden decreased from 34-35% to 27.5%, and the tax burden was also redistributed to the oil sector. The tax reform also increased tax collection and stimulated economic growth.
2010: According to the results of 2010, Russia's GDP growth amounted to 4.5%. Russia has taken the 6th place among the countries of the world in terms of GDP at PPP.
2011: Russia's GDP growth was 4.3%. Investments in the Russian economy have reached a record high of $370 billion per year over the past 20 years. Inflation rates dropped to a record low since the collapse of the USSR (6.6%).
2012: On January 1, 2012, the Common Economic Space of Russia, Belarus and Kazakhstan began its work. On August 22 of the same year, Russia joined the World Trade Organization. At the end of 2012, economic growth began to slow down and amounted to 3.3%, inflation - 6.6%. In total, in 2012, Russian industrial production grew by 2.6% (for comparison, in 2011 - by 4.7%, in 2010 - by 8.2%).
2013: In 2013, economic growth in Russia declined due to structural problems and reduced investment activity. GDP growth was 1.3%, inflation - 6.5%, industrial growth - 0.8%. The outflow of capital from Russia in 2013 amounted to $61 billion.
2014: In 2014, there was a further slowdown in economic growth, with GDP growing by 0.7%. In 2014, the inflation rate increased sharply (up to 11.4%), the growth of industrial production amounted to 1.7%. The outflow of capital from Russia in 2014 amounted to a record $151.5 billion. For the first time in recent years, the real incomes of the population decreased (by 0.7%). In December 2014, with the collapse of the ruble against the US dollar and the euro, a currency and socio-economic crisis began in Russia, caused by a rapid decline in world oil prices, as well as the introduction of economic sanctions against Russia in connection with the events in Ukraine .
2015: The Russian economy entered 2015 with the same problems: declining oil prices and continued economic sanctions. The weakening of the ruble became one of the main factors behind the increase in inflation and, as a result, contributed to a decrease in real disposable incomes of the population, a long-term cooling of consumer demand, an economic downturn, an increase in the level of poverty and a decrease in real incomes of the population. At the end of 2015, Russia's GDP decreased (by 2.8%), for the first time since the crisis of 2008-2009. Inflation rose to 12.9%. Real incomes of the population decreased by 3.2%. At the same time, there was a decrease in capital outflow by almost 3 times (to $58 billion).
2016: 2016 began with a weakening and extreme volatility of the ruble against the backdrop of falling oil prices. In January, the exchange rate of the ruble against the dollar several times updated the minimum values since the so-called "Black Tuesday" of December 2014, but subsequently stabilized at the level of 2015. In 2016, there was a slowdown in the rate of decline in Russia's GDP - the decline over the year amounted to only 0.2%. The industry moved to growth - the index of industrial production rose by 1.3%. The growth of agriculture accelerated. The processes of import substitution, a good harvest of agricultural crops and a number of other factors contributed to a sharp drop in inflation rates - the growth in consumer prices amounted to 5.4% (a record low figure for the entire post-Soviet period). Capital outflow has fallen to the lowest level in recent years ($15 billion). At the same time, the decline in incomes of the population continued (the fall was about 6%). According to the Research Institute of Rosstat, in 2016, 10.7% of employees of enterprises and organizations in Russia had a salary below one subsistence level of the able-bodied population, below 3 subsistence levels - 75%.
2017: As of January 1, 2017, the volume of the Reserve Fund decreased to 972 billion rubles. In the first quarter of 2017, the physical volume of Russia's GDP grew by 0.5% compared to the same period of the previous year. In April 2017, Russian GDP growth, according to VEB Bank, accelerated to 1.5%. In April 2017, the real disposable money income of the population of Russia fell by 7.6% compared to April 2016, thus reaching the level of 2009. In May, Russia's GDP growth accelerated to 3.1%.
The economic crisis of 1998 in Russia was one of the most severe economic crises in Russian history. The crisis occurred against the backdrop of a difficult economic situation in the country, aggravated by inefficient macroeconomic policies pursued by the authorities in the mid-1990s. In those years, a tight monetary policy (containment of inflation by refusing emission financing of the state budget and by maintaining an overvalued ruble exchange rate) was combined with a soft budget policy (unreasonably inflated budgets adopted by the State Duma and signed by President Yeltsin). The impetus for the emergence of the crisis was given by two external factors: a sharp decline in world prices for goods of the fuel and energy complex (the main item of Russian export) and the crisis in Southeast Asia that broke out in mid-1997. To stabilize the situation, the Government of the Russian Federation and the Central Bank of the Russian Federation took extraordinary measures. On August 17, 1998, a technical default was announced on the main types of government debt obligations. At the same time, it was announced that it would not maintain a stable exchange rate of the ruble against the dollar, which had previously been artificially supported (in the direction of overestimation) by massive interventions by the Central Bank of Russia.
The consequences of the crisis seriously affected the development of the economy and the country as a whole, both negatively and positively. The exchange rate of the ruble fell more than 3 times in half a year - from 6 rubles per dollar before the default to 21 rubles per dollar on January 1, 1999. The negative results were that the confidence of the population and foreign investors in Russian banks and the state, as well as in the national currency, was undermined. A large number of small businesses went bankrupt. The banking system was in collapse for at least six months, several banks declared bankruptcy. Depositors of failed banks lost their deposits, the population's savings depreciated in terms of hard currency, living standards fell, the number of people receiving unemployment benefits doubled. At the same time, a political crisis occurred: shortly after the default, Prime Minister Sergei Kiriyenko and the head of the Central Bank of the Russian Federation, Sergei Dubinin, resigned. Yevgeny Primakov was approved as the new prime minister, the communist Yury Maslyukov was his first deputy, and Viktor Gerashchenko was the head of the Central Bank.
At the same time, the shock that the economy experienced, as well as changes in the economic policy of the government and the Central Bank that followed the change of their leadership, had a positive impact on its development. In particular, the economic efficiency of exports has increased, that is, export-oriented enterprises have gained additional competitive advantages in the foreign market; enterprises producing products for the domestic market have increased their competitiveness due to the fact that foreign products have risen sharply in price; there have been many structural changes in the economy.
The crisis was short-lived and gave way to a very large-scale recovery.
In recent years, vast oil resources in Eastern Siberia have been put into operation. In particular, in 2009 commercial production began in the Krasnoyarsk Territory at the Vankor field with reserves of 3.5 billion barrels. In the field of gas production, Yamal resources are being developed, the total volume of which exceeds 30 trillion m³. In the fall of 2012, the Bovanenkovskoye oil and gas condensate field with reserves of over 4 trillion m³ was put into operation in Yamal. Exploration of deposits is actively carried out, in recent years the volume of growth in hydrocarbon reserves due to geological exploration exceeds the volume of their production. In 2005-2011, the increase in oil and gas condensate reserves in Russia amounted to 4.7 billion tons, which is 1.5 times higher than the volume of production in the same years, the increase in gas reserves was 5.4 trillion m³ (30% more production) . In 2011, 54 oil and gas fields were discovered in Russia (including two large oil fields), the increase in oil reserves for that year amounted to about 600 million tons (20% more than production), natural gas - 900 billion m³ (40 % more production).
Coal: Russia has significant coal reserves. Their volume is more than 200 billion tons, which exceeds 5% of world reserves. The main production is carried out in the Kuznetsk coal basin. In 2011, 336 million tons of coal were mined in Russia, 57% of them in Kuzbass. In 2014, 357.3 million tons of coal were mined in Russia.
Uranium: Yakutia is home to the Elkon uranium deposit, the richest known deposit in Russia and one of the largest in the world. It accounts for more than half of the explored uranium reserves in the country - about 344 thousand tons. In 2006, sufficiently explored and ready for development uranium reserves in the bowels of Russia were estimated at 615 thousand tons.
Diamonds: The Russian company ALROSA is the world's largest company in the exploration, production and sale of diamonds. In 2015, diamond production in Russia amounted to 38.26 million carats, which is 5.66% higher than in 2014.
Copper: Russia accounts for about 3% of the world's copper reserves. The Udokan field is one of the largest in the world in terms of its reserves. There are large copper reserves in Norilsk.
Gold and Silver: There are over 15 gold mining companies operating in Russia. The leader in gold mining in Russia is Polyus Gold, which accounts for about 20% of the market. The largest amount of gold is mined in the Chukotka Autonomous Okrug, the Krasnoyarsk Territory and the Amur Region. The Dukat deposit is one of the largest in the world in terms of silver reserves. In 2011, gold production from the subsoil in Russia amounted to 185 tons, in 2012 - 226 tons, in 2013 - 254.2 tons, thanks to which Russia came out on the 3rd place in the world in gold mining, overtaking the USA. In 2014, Russia increased gold production to 272 tons, displacing Australia from second place (269.7 tons).
Agriculture in Russia
Dynamics of the index of agricultural production in Russia in 1989-2016, as a percentage of the 1989 level, in comparable prices.
The volume of agricultural production in Russia in 2016 amounted to 5.6 trillion rubles (about $90 billion). The leading industry is crop production, which accounts for 56% of agricultural production, the share of animal husbandry is 44%. The structure of agricultural production by types of farms: agricultural organizations - 53%, households - 35%, farmers - 12%.
Russia is a major exporter of agricultural products. In particular, in terms of wheat exports, Russia ranks first among the countries of the world. The total volume of exports of food and agricultural raw materials from Russia in 2016 amounted to $17 billion.
Crop production: Collection of grain crops in Russia in 1990-2016, million tons. Russia has 10% of all arable land in the world. Over 4/5 of arable land in Russia falls on the Central Volga region, the North Caucasus, the Urals and Western Siberia.
Main agricultural crops:
cereals (gross harvest in 2016 - 119 million tons, 4th place in the world)
sugar beet (48 million tons, 1st place in the world)
sunflower (11 million tons, 2nd in the world)
soybeans (3 million tons)
potatoes (31 million tons, 3rd in the world)
vegetables (16 million tons)
Livestock:
Dynamics of meat production in slaughter weight in 1990-2016 in Russia, in million tons
The main types of livestock products produced in Russia:
meat (9.6 million tons produced in 2015, 4th in the world)
beef (1.6 million tons)
pork (3.1 million tons)
poultry meat (4.5 million tons)
other types of meat (0.3 million tons)
milk (30.8 million tons)
eggs (42.6 billion pieces)
wool (56 thousand tons)
honey (68 thousand tons)
You can continue indefinitely.
The context is very broad. Some of the forum participants do not want to familiarize themselves with the data from open access and ask for figures. But I don’t see the point in wasting an array of data designed to shame such colleagues and compatriots who have the courage to doubt the positive long-term prospects of the Russian Federation since the collapse of the USSR. These some forum members are referring to the data for the last couple of years, where you can really see some decline. But where can you find positive dynamics as well ...
Some numbers:
In 2016, there was a slowdown in the rate of decline in Russia's GDP - the decline over the year amounted to only 0.2%. The industry moved to growth - the index of industrial production rose by 1.3%. The growth of agriculture accelerated. The processes of import substitution, a good harvest of agricultural crops and a number of other factors contributed to a sharp drop in inflation rates - the growth in consumer prices amounted to 5.4% (a record low figure for the entire post-Soviet period). Capital outflow has fallen to the lowest level in recent years ($15 billion). At the same time, the decline in incomes of the population continued (the fall was about 6%). According to the Research Institute of Rosstat, in 2016, 10.7% of employees of enterprises and organizations in Russia had a salary below one subsistence level of the able-bodied population, below 3 subsistence levels - 75%.
2017 As of January 1, 2017, the volume of the Reserve Fund decreased to 972 billion rubles. In the first quarter of 2017, the physical volume of Russia's GDP grew by 0.5% compared to the same period of the previous year. In April 2017, Russian GDP growth, according to VEB Bank, accelerated to 1.5%. In April 2017, the real disposable money income of the population of Russia fell by 7.6% compared to April 2016, thus reaching the level of 2009. In May, Russia's GDP growth accelerated to 3.1%.
In 2016, most macroeconomic indicators fell, but there were several points of growth, including agriculture and industry. This conclusion can be drawn based on PUBLISHED by Rosstat information on the socio-economic situation in the country following the results of the past year.
Russian GDP:
Oil price dynamics and industrial production index in Russia, January-May 2017:
Average exchange rates of the ruble against the dollar and the ruble against the euro by months, January-June 2017:
In general, one can observe efficient management of the country, effective reforms in various sectors of the economy. And the national currency (Russian Rouble) is underpinned by all of the above, as well as having a very broad potential for the future.
The falling economy has long been replaced by growth. The tendency is towards acceleration.
Some may disagree, but I think the picture we are seeing is even more interesting. Within the framework of various sanctions and anti-rhetoric, we do manage to carry out effective tactical manoeuvres.
We can see the decentralization process in full swing. New international alliances and partnerships are being created with Russia's considerable participation. Which would not have been possible in the not too distant past, under a wholly controlling USD.
Russia is the only country that reminds the world of the existence of justice, goodness and law.
And there are more and more supporters of such human qualities in the world.
In general, one can observe efficient management of the country, effective reforms in various sectors of the economy. And the national currency (Russian Rouble) is underpinned by all of the above, as well as having a very broad potential for the future.
The falling economy has long been replaced by growth. The tendency is towards acceleration.
Some may disagree, but I think the picture we are seeing is even more interesting. Within the framework of various sanctions and anti-rhetoric, we do manage to carry out effective tactical manoeuvres.
One can see the decentralisation process in full swing.
Russia is the only country that reminds the world of the existence of justice, goodness, law.
This is why there will always be pressure, it is necessary to pressure everyone else in return, there would only be more people in the country.
The government is developing and implementing various programmes to help mothers, large families, military...
Conditions are being created to increase the birth rate. Life expectancy.
The desire of young people to establish families is being stimulated.
There is a tendency for foreign households and entrepreneurs to move to Russia for permanent residence and employment.
The government develops and implements various assistance programmes for mothers, large families, the military...
The prerequisites for an increase in the birth rate are being created. Life expectancy.
The desire of young people to establish families is stimulated.
There is a tendency for foreign households and entrepreneurs to move to Russia for permanent residence and employment.
Yes, norms, if we grow to at least 300 million, then we can start bending over, otherwise only with allies. In the meantime, they cannot even bend Ukraine back in its direction because there is no one to do it. They created a pseudo-state themselves and now they have to deal with it :)
I remember when I lived in one country, they also told me how much growth there was compared to previous years, how we were going to live under communism by 2000, how the government took care of the people, how much grain was threshed and how much cast iron per capita was produced, etc... And then all of a sudden everyone was half-poor, with wages of 50-100 dollars.... And since then I don't get hung up on growth figures in roubles. Everything is counted in hard currencies.
-----
All in all, one can observe effective governance of the country, effective reforms in various sectors of the economy. And the national currency (Russian Rouble) is backed up by all of the above, as well as having a very broad future potential.
The falling economy has long been replaced by growth. The tendency is towards acceleration.
The government is developing and introducing various programmes to help mothers, large families, the military...
Preconditions are being created to increase the birth rate. Life expectancy.
The desire of young people to establish families is stimulated.
There is a trend of foreign households and entrepreneurs moving to Russia for permanent residence and employment.
This efficient management of the country is visible to the naked eye. And this is the third year in a row:
Russians are getting poorer for the third year in a row
-----
2017: As of 1 January 2017, the size of the Reserve Fund dropped to 972 billion roubles. In the first quarter of 2017, the physical volume of Russia's GDP grew by 0.5% year-on-year.
What economic growth? Maybe they just started spending the reserve fund more intensively? Don't confuse the two, please. Judging by the tenths of a percent "growth" and Russians getting poorer for the third year in a row (see the previous paragraph) this is most likely true. Patching the holes.
Accounts Chamber: The reserve fund will be exhausted in 2017
-----
Despite all the chants about the attractiveness of the Russian economy, capital is fleeing the country. Fleeing less, but fleeing all the same. And no wonder - Russia is unattractive to investors.
"For the fourth month in a row, foreign investors have cut their investments in Russian assets. During that time, they have withdrawn more than $1.6bn from Russian equities - the highest outflow in three and a half years ." -Kommersant, July 2017.
-----
With new sanctions, Nord Stream 2 never being completed, the rouble will easily hit 70 per dollar by March 2018.
-----
You contradict yourself in your posts. Which is not surprising.
These some forum participants appeal to the data of the last couple of years, where we can indeed see some decline. But where you can also find some positive dynamics...
The downturn in the economy has long been replaced by growth. The trend is towards acceleration.
-----
The wallpaper in your profile with the soulless American plane, after I pointed it out to you, has been replaced with a Russian one, I see.
Well, now it's just a matter of the pilot in the avatar :)
The government is developing and implementing various welfare programmes for mothers, large families and the military.
Prerequisites for an increase in the birth rate are being created. Life expectancy.
The desire of young people to start a family is being stimulated.
There is a tendency for foreign households and entrepreneurs to move to Russia for permanent residence and employment.
The 6th largest economy in the world, that's what it sounds like, wow! Nano nbix trix technology!
List of countries by GDP(face value) for 2016:
1. USA $18569 billion (25% of world GDP)
2. EU 16408 billion $
3. China 11218 billion USD
......
12. Russia 1281 billion USD (1.5% of world GDP)
Global Competitiveness Index; Russia - 43rd place
( consists of:
- Quality of institutions.
- Infrastructure.
- Macroeconomic stability.
- Health and primary education.
- Higher education and vocational training.
- Effectiveness of the market for goods and services.
- Labour market efficiency.
- Development of financial market.
- Level of technological development.
- Size of domestic market.
- Firm competitiveness.
- Innovation potential.
)Economic Freedom Index; Russia - 114th place
(consisting of:
- Property rights.
- Freedom from corruption.
- Fiscal freedom.
- Government participation.
- Entrepreneurial freedom.
- Freedom of labour.
- Monetary freedom.
- Freedom of trade.
- Freedom of investment.
- Financial freedom.
)Rule of Law Index; 92 - place
(includes:
- Limitation of powers of government institutions.
- Absence of corruption.
- Order and security.
- Protection of fundamental rights.
- Transparency of institutions.
- Respect for the law.
- Civil justice.
- Criminal justice.
)World countries ranking in terms of living standards (Russia - 58th place)
- Per capita income (includes whether people are satisfied with their income); Russia - 55th place
- Business environment, ease of entrepreneurship; Russia - 42nd place
- Quality of education - 29th place
- Quality of medical care - 42nd place
- Safety (e.g. how safe a person feels walking the streets at night) - 91st place
- Personal freedom, freedom of expression - 111th place
- Social capital as an indicator of the culture of society in the sphere of relations between people (in the countries with high social capital people can rely on the support of fellow citizens, even strangers; they respect the opinion of others and are tolerant to the faults of others; people can calmly negotiate and improve their lives together) - 50th place
And if we also take into account the latest US sanctions against Russia, the prognosis is not consoling.
But we know that all these ratings are compiled by the State Department and they should not be trusted. The only reliable source today is Rosstat.
You remind me of the comrades in this story.
Yes yes yes, when you watch "VGTRK" and read the relevant Russian press Russia is the best country in the world and the rest of "rotting gayropa" with "pindosia" is far behind and about to collapse.
But we know that all these ratings are compiled by the government and should not be trusted. The only reliable source today is Rosstat.
You remind me of the comrades in this story.
I am not judging by the false Rosstat, but by the entrepreneurs I know, the girls I know () from the shops. Demand is steadily falling, food shops are going for the cheapest goods - ersatz. According to independent statistics, more than half of Russians are already saving on food.
I am not judging by the false Rosstat, but by the entrepreneurs I know, the girls I know () from the shops. Demand is steadily falling, food shops are going for the cheapest goods - ersatz. According to independent statistics, more than half of Russians are already saving on food.