Hacker News new | ask | show | jobs
by chrysler 1114 days ago
>> while Russia is better than ever.

In same fairytale, that may be so. In the real world, oil and gas revenue is 40% of Russia's federal budget and down -52% YoY as of April, so that's more than -20% from oil and gas alone gone before taking collapse of other exports and explosion of military expenditure into account. At this rate, we'll see a replay of 1998 soon.

1 comments

In the real world Russia is making pre-war level profits of its energy exports. It's like you don't understand the concept of supply and demand, the need for the energy and other commodities that Russia was exporting hasn't magically gone away, and you can't just make these things appear out of thin air. The fact that so many people are unable to wrap their heads around is idea is just amazing.
Nice move of goalposts from "better than ever" to "pre-war", that is, Covid-riddled era with low demand.

The hard facts are that federal revenue is down -22% while expenditure is up +26% and Russia is running a 30% deficit.