On Breakingviews: Economic asphyxiation puts Russia in China’s orbit, writes pierrebri
Russia’s fiscal deficit stood last year at 2.3% of GDP, according to official numbers. The government forecast for 2023 is for a reduction to 2% of GDP, which would put the state’s financing needs at some $40 billion.
According to estimates from the Institute of International Finance, each $10 movement in the price of a barrel is worth $15 billion a year to the state budget. So, in the first two months of 2023, the government has already lost $5 billion. According to Russian economist Alex Isakov, the budget deficit this year could even
Barring spending cuts, the government has three ways to fund its budget needs. The first is to issue bonds that the country’s banks refinance at the central bank. That would fuel inflation. The, with interest rates at 7.5%, has a 4% inflation target that it missed last year, when prices jumped 12%. It has estimated that inflation will run at around 7% this year. Its indirect financing of the budget deficit increases the inflationary pressure it wants to suppress.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Economic asphyxiation puts Russia in China’s orbitMoscow needs up to $90 bln to fund its budget deficit this year. As sanctions keep biting, financing the shortfall will slowly add to the economy’s woes. Russia’s need to use the yuan for trade and payments will also increase Vladimir Putin’s dependence on Beijing.
続きを読む »
PM Modi: India's economic, banking systems are strongIndia's economic and banking system are strong even amid the turmoil currently rocking global markets, Prime Minister Narendra Modi said on Saturday.
続きを読む »
The Questionable Economic Calculus Behind the Willow ProjectClaims that the ConocoPhillips venture will secure energy independence and Alaskan prosperity don't hold up to scrutiny. grist
続きを読む »
Tinley Park candidates focus on economic development, purchase of former state mental health siteIncumbents Michael Mueller and William Brennan, along with Ken Shaw, who sits on the village’s Plan Commission, are running under the One Tinley Park ticket, while Trustee Diane Galante is seeking reelection as an independent.
続きを読む »
Opinion | The U.S. Needs Economic Regime ChangeFrom WSJopinion: Nothing is as expensive as free money. The costs of the Federal Reserve’s zero-interest policy are multiplying, writes Kevin Warsh.
続きを読む »