- cross-posted to:
- ukraine@lemmy.world
- ukraine@sopuli.xyz
- ukrainianconflict@lemmit.online
- cross-posted to:
- ukraine@lemmy.world
- ukraine@sopuli.xyz
- ukrainianconflict@lemmit.online
“If fiscal expenses remain at their January levels throughout the remainder of the year, the NWF reserves could vanish in just three months. And even if they don’t — as is more likely — 2025 is probably the last year Moscow will be able to fully cover its fiscal deficit by tapping into those savings.”
This only makes sense under the neoliberal assumptions that the financial side of the economy faithfully represents the real side. If they’re really doing the whole hullabaloo with the banks, dipping into funds, I guess they also believe that and are practicing neoliberal economics. If the real economy doesn’t suffer from lack of resources, and whatever they can’t make can be important from say China in exchange of oil and gas, they can go like this until they run out of something, people, oil or gas, or China stops buying those and/or selling other goods to them. I’m not rooting for the Russians to keep their war effort going but I think looking at the financial side alone has mislead us before. For example when we were promised they’re gonna buckle under the sanctions in short order.