Russia avoided mass unemployment and a sharp fall in GDP but has one of the world’s highest excess death tolls.
A year ago today Russia went into its first — and only — coronavirus lockdown.
It was first officially declared a “nationwide non-working week,” designed to keep as many people at home as possible and keep Russia’s infection rate low, President Vladimir Putin outlined in an address to the nation days before swathes of the country were shut down.
One week became six and, in mid-May the nationwide lockdown was wound down, with Russia starting to reopen on a region-by-region basis.
As other countries have been plunged into second, third or fourth shutdowns in the months that followed, Russia has held firm — keeping its economy open even as a punishing second wave of the virus pushed regional healthcare systems to the brink.
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WNU Editor: The Kremlin was originally predicting Russia’s GDP would fall by more than 10% for the year and that unemployment could hit 15%. Thankfully that did not happened.
What also has not happened is the Kremlin spending money that it does not have like the U.S., Canada, and the EU. Instead ... the Kremlin is putting its money in gold, China's yuan, and the Japanese yen .... Russia’s National Wealth Fund gets greenlight for gold investments as Moscow pursues de-dollarization policy (RT).
As to what is my prediction for the Russian economy for this year and the next.
People who I trust and who have been proven right in the past few years see boom times ahead due to higher oil and commodity prices, pent-up internal Russian demand, and sound monetary and fiscal policies. I agree with their analysis. Even with current U.S., Canada, and EU sanctions.
5 comments:
Ok so Russia basically had high excess death (because no care and no lockdown) and therefore better financial standing(as dead people don't cost money in the hospital like someone who is on an isolation ward costs, and because they didn't lock down the economy)
In short.. Russia bit the bullet, had a few deaths more,, but the next generation isn't fcked over or living under gestapo covid passport/ medical tyranny and forced genetic experimentation.
Solid choice. Hat off to Putin.
Seems Russia and China look less totalitarian than the leftist Marxist influenced US/Democrat shitshow that makes a joke of the former USA
It's an insult to watch
I recall reading of Russia's government buying up gold a couple or so years ago. At the time I thought conservative and smart. Still do.
This reminds me of my grandparents who were all born in the 80's and 90's. That's 1880, 1890's.
Your last paragraph could be interpreted as commentary on what Russia, China, and probably others think of America's future financial stability and strength.
F-35's anyone?
Anon (8:55)
"Solid choice. Hat off to Putin." Wifh regards to COVID-19 the response of the Russian leadership was really the only one. Lockdowns don't help and only make matters worse. Having realized this they as well as some US states and localities quickly reversed course.
As I've pointed out before, the Chinese did not order the lock downs. At best, the lock downs were/are an unforced error. At worst, there may be something nefarious in them.
While Democrats and some Republicans do seem to be very, very totalitarian, I'm not sure I'm skeptical about declaring them more totalitarian than Russian or Chinese leadership. It does seem things have become less clear on recent years and US and "western" leadership should remember the teaching about what those who live in class houses should not do. Specifically they shouldn't be casting stones.
"class houses" should have been "glass houses." I apologize for the typos.
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