" Russian" Minister of Finance SILUANOV " Russia" Goes to towardState Collapse (Like USSR in 80th)

[Litwin]

I do 100% agree with " Russian" Minister of Finance SILUANOV, my questions are 1) when? and 2) the world after " Russia"?

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[VIDEO]
Anton Siluanov - Wikipedia

 

[Litwin]

"Russian" Finance Minister: Higher military spending, lower oil prices led to collapse of USSR and can do the same to "Russia"
Yesterday, Russian Finance Minister Anton Siluanov became the most senior Moscow official to say what many independent analysts have said before: large increases in defense spending and falling oil prices led to the disintegration of the USSR, and the same two trends can have the same impact on the Russian Federation.

The finance minister said that spending on the army and the production of military goods has now reached the level of three trillion rubles and that such spending, unlike investments in other sectors, “does not have a productive character.”

The Soviet authorities at in the 1980s faced the same problems when they increased military spending, Siluanov continued, and “when to this was added a decline in the price of oil, we saw what this led to: the state disintegrated.” Failure to recognize these linkages can have equally serious consequences for the Russian Federation."
Russian Finance Minister: Higher military spending, lower oil prices led to collapse of USSR and can do the same to Russia | EUROMAIDAN PRESS
Силаунов сравнил Россию с СССР перед развалом | 09.10.17 | finanz.ru

 

[Litwin]

"The excessive growth of defense spending of the state budget carries serious risks for the Russian economy, said Finance Minister Anton Siluanov, addressing students of the Finance University under the government of the Russian Federation.

Expenditures on the army and the production of military equipment, reaching 3 trillion rubles a year in Russia, as a rule, "are not of a productive nature," unlike other branches of the economy, Siluanov said.

"As we say, we will make a tank, and on it you will not plow further and bring an additional product." He does not bring any additional GDP, "the Finance Minister said.

He recalled that the Soviet Union was facing problems when the budget was carried away by high defense spending.

"When this was further added to the decline in oil prices, we saw what it led to. There was a disintegration of the state," the minister recalled (quoted by RIA Novosti).

An incorrect assessment of priorities in budget expenditures and their impact on the business climate, on the entire economic situation in the country can lead to serious consequences for the state, Siluanov added.

He recalled that in 1998, Russia was in default, because the authorities allowed excessive growth of the budget deficit and were carried away by borrowing in huge volumes. The next crisis - already in 2008, according to the head of the Ministry of Finance, also happened because of imprudent budget policy. "They collected obligations (budget - Ed.) At a price (oil - ed.) $ 100 per barrel, it fell - and now, the consequences for the financial markets, for the currency, for each person it was sensitive," he said.

"There would be another - a conservative, realistic approach to the expenditure of the state, or to the structure of these spending, there would not be such a situation," the Finance Minister is sure.

Recall that in the budget-2018, the draft of which was approved by the government in late September and last week was submitted to the State Duma, the expenses for the army, police and state machinery for the amount of 6.367 trillion rubles, or 38% of all expenses, are laid.

The law enforcement agencies can get in total 5,121 trillion rubles, of which 2,242 trillion rubles are in the open part of the budget, and 2,879 trillion are declared as secret, they are included in the total amount, but without specifying specific projects and articles.

Expenditures on social policy in comparison with the updated painting in 2017 have been reduced by 7.8% - from 5.071 to 4.703 trillion rubles. Including the cost of pensions - by 12.9%, from 3.651 to 3.233 trillion rubles.

The plan to support the Russian economy is cut by 13% - from 2.558 to 2.263 trillion rubles."

Силаунов сравнил Россию с СССР перед развалом | 09.10.17 | finanz.ru