Russian GDP down 4.0 percent year-on-year in November: Economy Ministry

[Ausr]

Russia was smart and didn't take in any refugees. A++ for thinking ahead on their part.

What does it have to do with the topic at hand?

Like, I know you're a twisted thinker but what?

[Deleted]

While oil is still going lower GDP also going lower is quite natural. Eventually this trend will reverse one way or another.

That's not why it's lower. It's mainly the billions of euros in investments that have fled out of Russia since the sanctions started.

At some point they were losing investments of 10-20 billion euros per week.

[Deleted]

Russia was smart and didn't take in any refugees. A++ for thinking ahead on their part.

I heard sryians who were already years in russia fled to sweden,norway and finnland....

I think cutting your leg off to prevent knocking your foot against the doorframe is not really thinking ahead.

[May90]

What does it have to do with the topic at hand?

Like, I know you're a twisted thinker but what?

Trump said he respected Putin and Russia. Hooked is Trump's fan, so...

[Tierbook]

Too many things not yet banned from being imported, obviously! Need more bans!

Also currency still too high making local production less competitive :P

Maybe.... Compared to a year ago today the rouble is down almost 20 roubles against the dollar from 53 to 71

[Charge me Doctor]

Oh well, who could expect that when all that bullshit happened, right? 4% drop was predicted in early january of this year, how is this big news to anyone just escapes my mind

- - - Updated - - -

Russia was smart and didn't take in any refugees. A++ for thinking ahead on their part.

Russia took a fucking lot of Ukrainian refugees

- - - Updated - - -

Too many things not yet banned from being imported, obviously! Need more bans!

Also currency still too high making local production less competitive :P

I think that's you are too high, from my observation, local producers keep rising up prices on local stuff on the same rate imported stuff gets its prices up

[Deleted]

Oh well, who could expect that when all that bullshit happened, right? 4% drop was predicted in early january of this year, how is this big news to anyone just escapes my mind

It is to the the russia (Putin) media who every month claim that the economy have hit the bottom and is now expected to start growing......

[Charge me Doctor]

It is to the the russia (Putin) media who every month claim that the economy have hit the bottom and is now expected to start growing......

Haven't heard such claims from media. At least not every month. Nabiullina did claimed that this year will be worst year for Russia economy-vice and that they expect to see growth after that. But you seem to be quite familiar with it if you make such claims

[Deleted]

Too many things not yet banned from being imported, obviously! Need more bans!

Its a capital shortage in Russia so few if any have the capital to start a new factory and fill in the vacuum of a baned product, and they who have the capital, can sell inferior products to permium price becuse of lack of foreign and domestic competitors.

Also currency still too high making local production less competitive :P

The Rubel was practically worthless before the fall of USSR (the currency did have a very low value) outside the east spheres but that did not helpe USSR.

- - - Updated - - -

Haven't heard such claims from media. At least not every month.

http://www.investopedia.com/articles/investing/042915/putin-says-russian-economy-healing-he-right.asp April
"During the annual televised phone-in on April 16, Russia’s President, Mr Vladimir Putin, did his best to convince his fellow citizens that the worst of the recent economic crisis was over."

http://fortune.com/2015/05/14/russias-crisis-is-over-but-the-pain-of-recession-is-just-starting/ Maj
"President Vladimir Putin was confident enough to tell a nationwide TV session last month that the worst was over"

http://www.forbes.com/sites/kenrapoza/2015/10/14/putin-says-russian-economy-has-hit-bottom/ October
"Russian president Vladimir Putin told global business leaders his country’s economy has hit the trough."

http://www.wsj.com/articles/vladimir-putin-warns-government-may-adjust-budget-over-oil-price-fall-1450346139 December
"President Vladimir Putin delivered a blunt defense of his foreign policy in an annual question-and-answer session Thursday in which he also tried to reassure Russians that the worst of the country’s economic crisis was over."

My googel kung fu is a litel weak at the moment but I hope you see the established a pattern........ every month might be a exaggeration from my part.

[Charge me Doctor]

So, you are trying to convince me that his saying "worst is over" and you saying "economy hit rock bottom" is same thing? In fact - he is right, worst - is over. Foreign currency doubling its price in just a week was by any stretch of imagination the worst outcome out of all this bullshit that happened

[Deleted]

So, you are trying to convince me that his saying "worst is over" and you saying "economy hit rock bottom" is same thing? In fact - he is right, worst - is over. Foreign currency doubling its price in just a week was by any stretch of imagination the worst outcome out of all this bullshit that happened

Yes saying the "worst is over" and "economy hit rock bottom" is the same becuse if you hit the bottom you cant sink lower.

If you did break the leg in Januari (you need crutches to walk and have no plaster to keep the leg stationary) and under the year the doctor say "worst is over" becuse the original trauma is over, its not over becuse you are still crippled, becuse the leg was nevere held stationary becuse of lack of plaster and hence never healed.

Not that the Rubel is all time low now compared with the beginning of the crisis......

[Shalcker]

Its a capital shortage in Russia so few if any have the capital to start a new factory and fill in the vacuum of a baned product, and they who have the capital, can sell inferior products to permium price becuse of lack of foreign and domestic competitors.

Government still has plenty of capital to go in subsidies and tax breaks.

Once production is started improving quality is much easier. Domestic competition also doesn't go away.

The Rubel was practically worthless before the fall of USSR (the currency did have a very low value) outside the east spheres but that did not helpe USSR.

They had huge deficits at the fall of USSR and were burning through their gold reserves to stay afloat. Completely different situation from now.

[mrinvisable2]

It's quite positive in areas where work have been done, like food industries.

Remember European cheese being banned? It grown by 19.7% compared to same period of 2014.

By positive results that exists logical assumption would be that we need more things banned :P

And after ban we dont send cheese to russia my countrys cheese export grew by 35% and ecanomy grew 1,5 % higher than expected due new markets

[Shalcker]

And after ban we dont send cheese to russia my countrys cheese export grew by 35% and ecanomy grew 1,5 % higher than expected due new markets

Win-win for everyone then.

[Deleted]

Government still has plenty of capital to go in subsidies and tax breaks.

No they have not, or do you say that Putin have loots of liquid fund he can use but have hold back becuse he like to postpone the recovery

Once production is started improving quality is much easier. Domestic competition also doesn't go away.

I did explained exactly why there will be NO big domestic competition....you cant get favorable loans to start up a factory

They had huge deficits at the fall of USSR and were burning through their gold reserves to stay afloat. Completely different situation from now.

Yes compleatly diffrent... you burning the money rerserve fund insted of gold rerserve to stay afloat

[Shalcker]

No they have not, or do you say that Putin have loots of liquid fund he can use but have hold back becuse he like to postpone the recovery

"Lots" as in "tens of billions $"? Definitely.

Process by which they are supposed to reach actual businesses isn't without faults however.

I did explained exactly why there will be NO big domestic competition....you cant get favorable loans to start up a factory

Either you cannot start because you cannot get loan to start or you still can; and then so do others, thus domestic competition cannot go away.

Yes compleatly diffrent... you burning the money rerserve fund insted of gold rerserve to stay afloat

When did you last checked our actual "reserve burn rate"?

This entire year is just 20 billion $ out of ~380 billion on reserves, most of it due to non-USD-based valuation changes (like gold which keeps growing in physical terms, as well as changes in euro-based assets).

Last time our central bank had intervention in currency markets was in July, and it was buying (that is, increasing reserves).

[Ausr]

Yes saying the "worst is over" and "economy hit rock bottom" is the same becuse if you hit the bottom you cant sink lower.

If you did break the leg in Januari (you need crutches to walk and have no plaster to keep the leg stationary) and under the year the doctor say "worst is over" becuse the original trauma is over, its not over becuse you are still crippled, becuse the leg was nevere held stationary becuse of lack of plaster and hence never healed.

Not that the Rubel is all time low now compared with the beginning of the crisis......

Again, you're arguing with people who think a shitty economy with no recovery in sight for many years is a good thing.

[Hooked]

Russia is minus 4%, meanwhile the usa has taken in a million refugees and immigrants every year, most of them go on welfare. That's like -10 off the top. We are wasting money and destroying the country. I have never seen a 1st world country that is made up of mostly 3rd world people. Its impossible. People revert back to what they are, it is a fact. If you bring in a bunch of people from the congo, the place you put them looks a little more like the congo, and a little less like America. Assimilation is the only way immigration can be conducted. I think as an American we have fallen, we are no longer a powerful country with values. We have become a corrupt nation under Obama, I don't support him at all.

[Deleted]

Win-win for everyone then.

Normaly win win means you win too and not lose 4% of your economy this year.

[Shalcker]

Normaly win win means you win too and not lose 4% of your economy this year.

We win on our own cheese production.

General economy state is result of oil price drop (and world markets slowing down in general), not necessarily government interference.