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> But what generates the cash is global demand for Russian oil and gas. 35% of budget income is from VAT only. I'm not counting other taxes.
by bvrmn 5y ago
> But what generates the cash is global demand for Russian oil and gas.
35% of budget income is from VAT only. I'm not counting other taxes.
- DisjointedHunt 5y agoIs budget the same as foreign exchange inflows? That's what the author is pointing out as the bulwark to the international pressure.
- bvrmn 5y agoRussian total trade in 2020 was 550M. Poland has 510M total trade same year. Russian external economy is really very small.
- rdtsc 5y agoAnd that explains why they are not too worried about sanctions. Sure, it would be unpleasant but they are already under sanctions and Putin is hasn’t lost popularity too much.