Russia Today television has confirmed what most good folks have known all along: Russia is still running a budget deficit.
Russia remains in the “Red Zone” and we’re not talking about American football. In this case the “red zone” is a continuing ecomony that forces the government to spend more than it makes.
Russian President, Dmitry Medvedev, renewed his pledge to move the economy from energy reliance in just over a decade and emphasized that moves to address the economic downturn should limit Russia’s long term plans.
Speaking about the more immediate economic concerns, the Russian president indicated the economic downturn in the wake of the global credit crunch had hit harder than expected and that this in turn had pounded the Russian currency – the Rouble – and meant that the country is now heading for budget deficit.
But he indicated that the economy would begin to turn, and that the Rouble had already stabilized. He also said that a budget deficit would be serviceable and that he was looking to reign it in as soon as possible.
Ah, Dmitry, government leaders all over the world mouth the same words…but it is usually worthless drivel. With an economy that totally relies on energy, in a world economy where energy prices have been driven down, don’t just tell everyone that you have a plan.
Stooges like America’s junior Senator Obama talk a lot without a plan too. From you my friend, we’d like to actually hear the plan.
That would make you far different from the rest of the G20 clowns around the globe.