The Russian economy is now booming after Vladimir Putin’s expulsion of the Rothschild banking system in Russia.
Russia has reduced foreign debt by 75% making them the sixth-largest economy in the world by Purchasing Power Parity (PPP), with a $4-trillion GDP.
Back in 1999, the Russian economy by PPP was worth only $620 billion. So, in the last 18 years, Russian economic output in these terms has increased by 600%.
When Putin was elected in 2000, Russia had just $12 billion in reserves, accompanied by a public debt, which was almost equal to the country’s economic output at 92%.
Things have changed markedly in 18 years, as Russia’s public debt has now shrunk to 17.4% of GDP and reserves have increased to $356 billion.
Russian gold reserves have increased by more than 500% since 2000. The Central Bank of Russia (CBR) added 9.3 tons of gold to its reserves in December, bringing the total yearly holdings to a record 1,838.211 tons – worth over $76 billion in monetary terms.
The World Gold Council shows that Russia is the largest buyer of gold and is the world’s third-biggest producer, with the Central Bank purchasing from domestic miners through commercial banks.
While the Russian economy remains dominated by oil and gas revenues, its agriculture sector has boomed in recent years.
Russian farmers produced their largest ever crop in the 2017 agricultural year, breaking the 40-year-old Soviet record, and harvesting more than 130 million tons.
In 2016, Russia became the world’s leader in wheat exports.
News Punch / ABC Flash Point Connection 2018.