- Russia’s economy, boosted by military activity, is now classified as high-income by the World Bank.
- Russia’s GDP grew 3.6% in 2023, with trade and financial sectors rebounding.
- The World Bank also upgraded Bulgaria and Palau, while the West Bank and Gaza were downgraded.
These the guys that use the economic figures Russia puts out?
Russia does seem to have some savvy economic decision makers that are able to keep the ship balanced in the shit hurricane they are actively being steered into. I really wonder when they run out of cash to do that.
Soviet-trained planners, actually. The problem was always the system they had to work in and not their understanding or training. Imagine what they could do if they were allowed to a) not waste endless time on pointlessly micromanaging paper clip production and b) had an actual and proper mandate to get rid of corruption and clientelism. Which is ultimately what broke the USSR’s neck, not the micromanaging that was just a ball and chain.
I don’t know if they could do more. As a system that allows for such powers corrupts.
Oh I’m not advocating a planned economy though Russia’s overall problems with corruption run deeper than any system.
What I’m saying is that if you’d put those planners in charge of France’s dirigisme France would probably make a modest leap ahead.