... Russian army.
Nato then prolonged the confrontation by supplying Kyiv with weapons. Nato members see this conflict as a good investment for their own security. What they mean is the lives of Ukrainian soldiers would be a small price to pay for weakening Russia.
At the same time, Western countries have tried to present Moscow as the culprit for the breakdown of supply chains and the global food crisis, which, in fact, resulted from the erroneous financial and economic policies of the West during the pandemic and its illegal sanctions against our country.
All of these efforts will be vain, and the objectives of the special military operation ...
... that has become the root cause of most of the current problems
In the last few days, the attention of officials and experts in the United States and other Western countries again focused on the implementation of the so-called Istanbul Agreements. And Russia, which suspended its participation in the mechanism for several days, is once more being accused of provoking a humanitarian crisis and famine in developing countries.
However, no one seems to take note that the reason for our decision, which has since been reversed, was an
attack on the ships and port infrastructure
in Sevastopol by Ukrainian drones. The assault was set up ...
... rising differentiation in growth across sectors has important implications for investment strategies, as we expect growth in sectors such as IT, agriculture and financials to continue to outperform the rest of the economy.
Since the 2008-09 financial crisis, Russia’s economic growth has underperformed the world’s average almost every year, with notable gaps observed versus the rest of EM and the CEE region throughout the past decade. The sluggish growth performance was partly attributable to the structural ...
... 1998 crisis. The introduction of a flat 13% income tax rate was also meant to lower the scope for the “shadow economy”, which was expanding rapidly in the 1990s. The launching of the National projects in the past several years was designed to boost Russia’s growth rates, which after the 2014 crisis consistently underperformed those of the world economy. Arguably at the level of global governance the international financial architecture has thus far lacked innovation in terms of the response to the current crisis. Rather than finding new pathways ...
... back-burner. The current crisis is likely to modify countries’ approaches to the use of economic policy rules, with fiscal rules likely to be modified/relaxed to allow for the possibility of economic shocks and sudden stops as observed in the current crisis episode.
For Russia the global downturn will likely involve greater focus on short-term exigencies at the expense of longer-term goals. As was the case during the 2008-2009 crisis this may involve changes in the composition of fiscal spending away from prioritizing ...
... economic problems caused by the current pandemic will by no way disappear. They are here to stay. Cash is being massively injected to support certain sectors of the economy – not only in the European Union, but also in the US, China and in my country, Russia. European Union leaders discussed the situation on 26March, but did not manage to achieve full unity on all points. For instance, they postponed their own decision by instructing the Eurogroup to elaborate response measures to the crisis caused by COVID-19 in two weeks’ time: the next meeting of the Eurogroup is scheduled for 7 April only.There may be contacts in between though.
By the way, all this is happening now in videoconference format. And how effective such communication ...
The IMF’s diagnosis was that of a “synchronized slowdown” across the globe with the Fund revising its growth projection for global economic growth downwards and putting the 2019 growth estimate at the lowest level since the 2008-2009 financial crisis
This year’s Annual meetings of the IMF and the World Bank in Washington DC revealed a growing preoccupation with the mounting signs of a slowdown in the world economy. The IMF’s diagnosis was that of a “synchronized slowdown” across the ...
... series of defaults and bankruptcies and skydiving prices of raw materials.
As things stand, the “soft-landing” scenario appears more probable, at 60/40.
Consequences for the Russian Economy
Formally, the Russian economy appears to be prepared for a crisis. Russia has a relatively low public debt, significant gold and foreign currency reserves, and a budgetary “safety cushion” in the form of the National Wealth Fund. Coupled with a significant double surplus (a positive external balance plus a surplus ...
... made in Iraq at the cost of taking one back in Syria, but also because in the past allied forces - especially Turkish ones - attacked Syrian objectives on multiple occasions.
This could lead to an escalation that would involve the United States and Russia, which has always been a concern during this crisis. Now that the American administration is about to change, there is a chance that things may ameliorate on that front, but it is quite too early to assess if elected President Trump will follow through with his program of relaxing relations with ...
... troops so close to the line of defense of Russia.
The similarities with the Cuban Missile Crisis are striking, with one faction putting their military machine in the backyard of other one. The justification for this move is the alleged role of the Russian Federation in the Ukrainian crisis.
But the dissimilarities are interesting as well, if not more. It is worth noting that what eventually defused the Cuban Crisis was the fact that the American political leaders kept working for a peaceful solution, despite the fact that the military ...
