Russia is More Solvent Than France


Christophe – Reveil-et-vous 

Translated from French by Tom Winter

Putin is a dictator, a villain — and whatever happens to Russia (the fall of the rouble) is Putin’s fault. Do not go thinking that I’ve changed my mind. I’m just echoing the imbeciles. Actually, I dream of a leader of the stature of Putin for our country. Yes, because Russia is not faring so badly. A glance at the economic figures for Russia gives reason to be agreeably surprised by the management of Vladimir Putin, and the statistics for Russia could make any economist of the so-called free world turn green with envy. I lately read a rather good paper by Charles Sannat, from which I draw the following:

Debt: Well, our nation has a debt to GDP ratio of 95%; the U.S. has an indebted ratio over 105% of their GDP, and Russia, in comparison, practically none, a ridiculously minuscule 15.7% ratio of debt to GDP — as much as to say, none. Objectively, Russia is more solvent than France.

Trade balance: While France has a negative trade balance of around 101 billion Euros, Russia’s positive trade balance is around 179 billions, in dollars, which approximates that of Germany, perennial exporter whose commercial power nobody doubts.

The Russian deficit is zero… there, where we have struggled these 40 years for a budget equilibrium, visibly without success, and where our deficits continue inexorably and tend us toward collective ruin

We are a population of 65 million, and the Russians more than 145 million. In Putin’s Russia, unemployment tops out at 5.6%. [End of November, French unemployment was at 9.9% —tr]

Well, we have one advantage: the Russian GDP is a bit over 2,057 billion in U.S. dollars, where the French GDP is 2.902 billion dollars. We are certainly more rich but plainly less well managed… We are, bottom line, poorer if one figures on “net debt.”

Similarly, there is no comparison in the area of tax burden… In Russia, tax receipts are just 15.1% of GDP, while in France they are at 47% (the figure from 2012), and the general revenue, in the grand sense of taxation in France, is at 53% of the GDP. Thus Russia has, potentially, the chance of still raising the tax burden, having a great gap before attaining a tax burden like France. And what a gap!

Notwithstanding the propaganda we are inundated with here about the weakness of Russia, this country is in reality much more robust than the picture they have been giving us. Russia is an economically solid country with excellent fundamentals. It is a country that exports more than it imports, and in this case, one of the rare countries of the world. 

Russia is a great nation of courageous people, capable of enduring efforts that seem to us simply impossible. The Russian soul has smashed alike the armies of Napoleon and of Hitler. Those of Obama — and much less those of Hollande — will fare no better. 

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