Russian Ruble Collapse Has Damaged Economy - Oil & Gas Revenues Fall 63% as Russia Posts Huge Loss - Joe Blogs

[TexasTowelie]

RUSSIA's Economy has started to COLLAPSE as the impact of the Sanctions hit home. Russia's OIL & GAS Revenue is down 63% in the first 11 months of 2023 compared with the revenue Russia was earning prior to the invasion of Ukraine. In addition to this huge reduction in income Expenditure is continuing to increase due to the investment in the War, which means that the Russian Economy is now incurring massive LOSSES. In this video I provide more details of the figures and discuss the problems that Russia is now facing.

Chapters:
0:00 Intro
1:44 MINISTRY OF FINANCE
2:52 OIL & GAS REVENUE
5:12 RUBLE
8:41 NON OIL & GAS INCOME
10:23 TOTAL REVENUE
11:43 EXPENDITURE
13:09 NET DEFICIT
15:40 SUMMARY & CONCLUSION

[keithbvadu2]

1. The great economist Dick Cheney said:

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(on edit. See post #2)

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Link to tweet

[TexasTowelie]

2. I wouldn't repost Tiedrich's comment because it isn't accurate.

While the Trump administration had deficits and tax cuts that total to about one-quarter of the national debt at that time; about 75% of those deficits were somewhat baked in and were not a result of Trump's tax policies Taking some liberty with the rounding, the Trump tax cuts for the wealthy accounted for about $2 trillion of the $32 trillion debt which is about 6% rather than a quarter of our national debt.