According to preliminary data, in the first half of 2021, the state debt of the Russian Federation increased by 1,483,105.4 million rubles, or 7.8%, and as of July 1, 2021 amounted to 20,423,507.6 million rubles (17, 7% of the projected GDP), ”the report says.
Keep in mind the figure is in Rubles. US debt is unsustainable at $30 trillion USD. Our debt is over 100 percent GDP.
When I worked in Moscow I had many conversations with Russian nationals. What stuck in my mind: an American finances everything, boat, home, credit cards, cars….a Russian saves his money and buys cash, ownership.
Who is better off? The American who has a 30 year house mortgage, two car payments, huge CC payments or a Russian who owns a small flat, a car, and a dacha- all paid for?