Gas station posing as country becomes Europe’s biggest economy – report

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John McCain rolls over in his grave.

RT.com, 8/4/23

Russia was among the world’s five largest economies and the largest in Europe in terms of purchasing power parity (PPP) as of the end of 2022, despite Western sanctions, the latest World Economics report has revealed.

According to estimates based on official country data published by the World Bank and the IMF, Russia’s gross domestic product was $5.51 trillion in PPP terms at the end of last year. The figure is 38% larger than the official estimate of $3.993 trillion, the report noted.

It also showed that the Russian economy was ahead of Germany’s when measured in purchasing-power parity, with the latter’s GDP at $5 trillion.

China topped the list as the world’s biggest economy ($31 trillion), followed by the US, India, and Japan. The top 10 also included Indonesia, Brazil, and Türkiye.

The IMF and World Bank both recently raised their forecasts for the Russian economy, saying GDP would continue to grow despite sanctions, underpinned by strong trade and industrial production, as well as higher-than-expected energy revenues.

According to the World Bank, Russia’s growth is expected to turn positive in 2024, but will remain modest at 1.2%.

The Russian government has maintained a positive outlook for the economy. Prime Minister Mikhail Mishustin has predicted that, by 2024, the Russian economy will be able to overtake developed countries in terms of growth.

Note: the folks over at Russia Matters have taken issue with the main claim in this article. See here.

2 thoughts on “Gas station posing as country becomes Europe’s biggest economy – report”

  1. The proxy war against Russia, using Ukrainians as cannon fodder, was undertaken by the Biden neocon cabal based on one fundamental assumption—that sanctions would bring the Russian economy to its knees and that the ruble would turn to rubble. Well, that assumption turned out to be 100% inaccurate, kind of like back in 2003 when the world was told that Iraq had WMD. The people who run US National Security policy are the stupidest and most ignorant ideologues on the planet, forever believing that the US is omnipotent. This is the disease that all empires suffer from. The sooner this empire goes the way of its predecessors (Roman, Spanish, British, etc.) the better for everyone. A multipolar world based on codified international law and the UN Charter is on the horizon, unless of course the maniacal men and women (specifically “Maidan” Nuland and Hillary Clinton) who head up the neocon cabal actually decide to go over the nuclear cliff and destroy us all.

  2. The people at Russia Matters seem to be complaining because the RT article is talking about apples and they want to talk about oranges.

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