Russia is not a “Great Power”. It is an economic basketcase with nuclear weapons and a large competent military.
Russia’s debt ratio is one of the lowest in the world at 19.48% of its GDP. Russia is the ninth least indebted country in the world. We owe 134% of our GDP. Russia has a 13% personal income tax. Collected up front, no filing needed unless you are using the once in a lifetime home deduction.
Getting close to time that we stop calling anyone else an economic basket case.
Whaaa? It is an economic basketcase?
It is the 2nd largest crude exporter in the world, and collected $73 Billion last year for it, during demand depressed pandemic.
Russia BY FAR is the largest Natural Gas exporter in the world. They don’t send that outwards for free. $26B last year, which was a 35% dip from the higher priced 2019.
THIS is why they don’t have debt or quantitative ease money creation from thin air. They have actual product of value to sell. Not advertising bytes on the internet.