State of Russian Economy: Putin's Ginormous Deficit. Trump's Oil Plan, New Initiatives. Milov, Nacke

Despite the fact that Putin's Government increased the planned budget deficit several times during the year, they still did not meet it. In December, everything that had been so diligently hidden under the rug for an entire year came to light.
The deficit was a record breaking, and Russia simply cannot afford to spend so much. The liquid part of the National Welfare Fund is almost spent, revenues are not growing, but expenses are increasing several fold.

And then there is Trump with his ideas to bring down oil prices. It is impossible to say yet whether he will succeed in his plan, because it will also affect American oil producers, but technically such a possibility exists if the new American president comes to an agreement with OPEC.

In general, the Russian economy is not doing well anyway, and if Trump implements his plans, it could accelerate the onset of a serious crisis, says Vladimir Milov in a new economic report.

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English translation by PrivateerStation

Original video in Russian: https://youtu.be/LLz7SZsx0xQ

Original material by: Michael Nacke
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