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Anonymous ID: xI8vYpHfUnited Kingdom /pol/509799629#509811192
7/8/2025, 8:57:19 AM
>>509810525
Yes it's pretty bad. But you can't gauge how bad things are just from that information alone since Russia has abandoned general budgeting principles and conducts a lot of its financing (to the tune of tens of trillions rubles each year) off the books via state-mandate bank preferential loans to desirable sectors like defence and construction and other industries.
See:
https://navigatingrussia.substack.com/p/russias-hidden-war-debt-full-report

To get a broader economic picture you should look at a few things:
- budget deficit and treasury yields
- key rate and current account
- banking liquidity and balance sheets
There's more but you can start with those. Some of these stats Russia can manipulate and lie about. Others they can't. Or they can't get away with a lot of lying and obfuscation at least.

The summary of this all is that Russia has to make very deep spending cuts to turn all of this round. There's only one obvious place to make those budget cuts and that's the military, but they're so stubborn that they won't. So they walk, with their eyes wide open, ever closer into the abyss.