Not according to the World Bank:
https://thedocs.worldbank.org/en/doc/d5f32ef28464d01f195827b...
Furthermore, they became #4 GDP PPP last year and and were reclassified as a high income country.
https://www.intellinews.com/russia-s-economy-is-booming-3289...
The poorer regions are actually benefiting from high contract salaries. How sustainable that is, guess we'll see.
> they became #4 GDP PPP
That doesn't mean much on its own. Their per capita GDP is still low.
Also arguably their GDP figures are worth even less than Ireland's. A huge proportion of Russia's economy is tied in military production (and huge proportion of that is funded through debt).
If you make a rocket worth $1 million and then blow it up the next month that cost is obviously included in GDP but it's literally the equivalent of burning money/productivity.
Goes to show how much GDP is a good measure (or target) to aim for.
No, no, just no. I don't care what the website says. People in Russia are quite economically depressed. You might want to visit and talk to real people instead of web pages. Visit the Far East.
What in there contradicts what I said?
- They are run by the mob
- They export a lot of natural resources but don’t have a strong manufacturing base. They don’t have high tech, they don’t export many manufactured items to developed countries. It’s a mob run country, resources are easy to extract.