The pace of Russia’s economic growth slowed in the second quarter of 2024, official data showed Friday, amid concerns over stubborn inflation and warnings of “overheating.”
Gross domestic product (GDP) dipped from 5.4% in the first quarter to 4% from April to June, the lowest quarterly result since the start of 2023 but still a sign the economy is expanding.
Inflation meanwhile showed no signs of easing, with consumer prices rising 9.13% year-on-year in July — up from 8.59% in June and the highest figure since February 2023, according to data from the Rosstat statistics agency.
Russia has been growing at 2-3% for literally decades and has an economy that depends on petrol being $110 a barrel.
They will never stop being a second tier economy unless they wake up to how corrupt and inept their government is. They can’t even brute force it with people - they have ~15mill fewer people than they did going into WWI over 100 years ago.
They are slowly devolving into a rogue state and at this point it’s up to them to solve it. They’ve seceded from the world. Godspeed to them, truly. We have lost a beautiful culture and people to the poor decision making of their government.
They have a nuclear arsenal, meaning “Godspeed to that crumbling rogue state” is a suboptimal position to take on Russia.
So does North Korea.
Flippancy aside, “Godspeed” isn’t “fuck em.” I truly hope they can get their shit together.
Reading this makes me feel sad. Few people are able to destroy a whole culture.