2023 esimeses kvartalis olid Eesti tarbijahinnad 31% kõrgemad kui 2019. aasta esimeses kvartalis. Kasumid tõstsid hinnataset ligikaudu 12% võrra ehk ligi 40% ulatuses kogu hinnatõusust. Eesti Pank blogi https://t.co/hbG8BSxh5I
Prior to the invasion, the sovereign wealth fund was valued at $150 Billion USD.
When the indicted War Criminal Putin launched his murderous and illegal venture in Ukraine in February 2022, the Ruble crashed to around 132 to one USD. Putin raided the sovereign wealth funds to prop the Ruble up and it recovered back to 50 to one USD by July 2022, and the Russian economists and propagandists gloated that this was because Russia was not affected by the sanctions imposed on it - with Russia now the most sanctioned country on earth.
Putin has plundered the countries reserves to prop up the Ruble when it collapsed after the invasion. They had to end the Ruble value manipulation in July 2022, having realised they could not afford to support the Ruble in 2023 - and fund the war effort, because the economy is in a dire state with the 45% fall in oil and gas revenues.
In February 2023, Russia announced it would change the structure of it’s reserves and drop the Euro from it’s reserves. As of February 1, 2023, the NWF held 10.46 billion euros ($11.2 billion), 307.44 billion yuan ($45.2 billion), 551.27 tons of gold and 530.1 million rubles ($7.3 million) in its accounts, according to a report by the Russian Ministry of Finance. It claimed the fund will in future consist of up to 60 percent yuan and no more than 40 percent gold and Russia may add rubles to the sovereign wealth fund.
Russia had a $48 Billion deficit in 2022, and they have recorded a whopping $30 Billion deficit in just the first quarter of 2023 - a total of $78 Billion deficit since the invasion, which is why Russia can’t afford to support the Ruble any further. It needs to fund all of the losses in the economy and the war effort, having burnt through 60% of their reserves to date. If Russia continues to burn through it’s reserves at the current rate - it will have no cash reserves by the end of 2023.
Russia has an estimated $300 Billion in assets outside of Russia - but it can’t access those assets as they have been frozen in countries such as the USA, UK and France. There is every likelihood that these assets will be seized and donated to Ukraine for compensation for the destruction they have caused in Ukraine.
So when you encounter shit posters claiming the Russian economy is doing well, the facts show a very different picture. The Ruble is tanking, exports are down by 45%, and the countries reserves have been burnt through with the remaining reserves being used to keep the economy ticking over and funding the war in Ukraine.
#RussiaIsCollapsing #RubleCollapse #RussianEconomy
Ref:
https://t.co/eSAUBOHtDy
https://t.co/26QqVQr3C1
https://t.co/S5r1d2v5AY
https://t.co/lN7ZhnEBWc
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1) A thread of hypotheses, loosely held.
This recession will be nothing like 2002, when EPS for the companies in the S&P 500 tech GIC declined 80%. Tech EPS likely even more stable this time than in 08/09 when EPS declined only -3%ish. Function of shift to recurring revs.
Since the start of drafting, ~260k men have left Russia allegedly. Citing the source: /.../ значится цифра в 261 тысячу мужчин, уехавших из России /.../ Tempting to make a fallacy as apparently stayed the-non (or little men) /.../ а остались мужчики /.../ https://t.co/RhFddS6iSK
There are many predictions around about collapse of Russia into 4 regions by 2050 etc. One of the supporting interesting academic takes on the threat of Russian dissolution admitted by Russian political leaders date back to Putins early days (in russian).
https://t.co/lJiObbgqxe