US EditionSweden Says Russia Understates Deficit as Economy Weakens
Sweden says Russia is masking a budget gap of about $30 billion while inflation and GDP weakness deepen, according to military intelligence.
- Sweden's military intelligence chief Thomas Nilsson states that Russia's economy is weaker than official figures show and could face long-term decline or economic shock due to war-driven strain and corruption.
- Russia understates its budget deficit by $30 billion and reports inflation at 5.86%, but actual inflation closer to 15% reflects worse economic conditions.
- Russia requires Urals crude oil prices above $100 per barrel for at least a year to cover its budget deficit, with higher prices offering only temporary relief amid a weakening economy.
- Russian GDP contracted by 1.8% in early 2024, with President Vladimir Putin acknowledging economic decline, while Sweden urges further sanctions and support for Ukraine to exploit Russia's vulnerabilities.
19 Articles
19 Articles
Secrets from Sweden ensure that Russia manipulates economic statistics to convince Ukraine's allies that Moscow's economy has resisted sanctions and heavy military spending.
"The Russian economy can only end in one of two scenarios," assesses the Swedish intelligence chief.
"The Russian economy has two possible scenarios: long-term decline or shock," said Thomas Nilsson, head of Sweden's Military and Security Intelligence Service, for the Financial Times. "The Russian economy, in difficulty, has failed to recover, even though rising oil prices on the Middle East war bottom fuelled the Kremlin's...
Russia's state budget is heavily under pressure after four years of war of aggression against Ukraine. According to Sweden's head of military intelligence, Moscow even manipulates data to make its economy look better.
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
