SUBSIM Radio Room Forums - View Single Post - Here we go again-Ukraine once again

Skybird · 02-06-23, 08:51 PM

For the first time, Moscow sold foreign exchange reserves and gold stocks to make up for budget deficits during the war. This may be annoying from the Kremlin's point of view, but one should not read too much into this economic malaise - especially not that the Russian economy is now "collapsing" just because they are selling some gold: just over half a percent of their stock. So far Russia has been buying gold during the war and despite the sanctions.
FOCUS writes:
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To cover gaps in the state budget, Moscow resorted to its gold and foreign currency reserves in Chinese yuan in January. A total of 2.27 billion yuan (about 309 million euros) and 3.6 tons of gold were sold, the Russian Finance Ministry said Monday, according to state news agency Tass. "The funds thus obtained were transferred to the state budget account to cover the deficit," it said in a statement. The January hole in the state budget was put at 1.76 trillion rubles (23 billion euros).

A total of 3.1 trillion rubles (about 40 billion euros) had been spent, up 59 percent from January of last year, it said. The ministry did not give reasons for the extra spending. Russia has been waging a war of aggression against neighboring Ukraine since February 2022. The West has imposed heavy economic and also financial sanctions on Moscow because of it.

The state budget's oil and gas revenues have fallen 46 percent compared to January 2022, it said. Russia currently has reserves of 10.4 billion euros, 307.4 billion yuan and 551.2 tons of gold, according to the Finance Ministry.
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My guess is that the extra spending is due to direct investment in new weapons purchases in friendly foreign countries. Apart from that, please no one should believe that the officially published figures on Russian annual military expenditures were ever even close to the truth, yes? You don't maintain armed forces with such huge numbers and the largest nuclear arsenal in the world with an official defense budget that 2021 was a little bit bigger than that of France and slightly smaller than that of Great Britain, even if Russia produces cheaper.

02-06-23, 08:51 PM	#9642
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 40,662 Downloads: 9 Uploads: 0	For the first time, Moscow sold foreign exchange reserves and gold stocks to make up for budget deficits during the war. This may be annoying from the Kremlin's point of view, but one should not read too much into this economic malaise - especially not that the Russian economy is now "collapsing" just because they are selling some gold: just over half a percent of their stock. So far Russia has been buying gold during the war and despite the sanctions. FOCUS writes: ---------------------- To cover gaps in the state budget, Moscow resorted to its gold and foreign currency reserves in Chinese yuan in January. A total of 2.27 billion yuan (about 309 million euros) and 3.6 tons of gold were sold, the Russian Finance Ministry said Monday, according to state news agency Tass. "The funds thus obtained were transferred to the state budget account to cover the deficit," it said in a statement. The January hole in the state budget was put at 1.76 trillion rubles (23 billion euros). A total of 3.1 trillion rubles (about 40 billion euros) had been spent, up 59 percent from January of last year, it said. The ministry did not give reasons for the extra spending. Russia has been waging a war of aggression against neighboring Ukraine since February 2022. The West has imposed heavy economic and also financial sanctions on Moscow because of it. The state budget's oil and gas revenues have fallen 46 percent compared to January 2022, it said. Russia currently has reserves of 10.4 billion euros, 307.4 billion yuan and 551.2 tons of gold, according to the Finance Ministry. ----------------- My guess is that the extra spending is due to direct investment in new weapons purchases in friendly foreign countries. Apart from that, please no one should believe that the officially published figures on Russian annual military expenditures were ever even close to the truth, yes? You don't maintain armed forces with such huge numbers and the largest nuclear arsenal in the world with an official defense budget that 2021 was a little bit bigger than that of France and slightly smaller than that of Great Britain, even if Russia produces cheaper. __________________ If you feel nuts, consult an expert.