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Russian [[GDP]] nominally rose more than any [[G7]] country in 2023. The average Russian household ended the year with about 18% more money in the [[bank]] than a year earlier. Sberbank, Russia’s largest state-controlled bank, posted a 5.5-fold year-on-year net profit jump to a record high of 1.5 trillion rubles (USD $16.3 billion). The defense industry employs 3.5 million people and many factories have doubled their workforce since the beginning of the [[SMO]]. The economic boom is result of defense [[stimulus]] spending, [[Keynesian economics]], a government [[deficit]]s. Compared to the [[United States]], Russia is a piker in the debt markets. The U.S. gas $35 trillion [[national debt]] and growing), nearly a $1 trillion dollar defense budget, does not produce tanks, failed to produce a functional [[hypersonic missile]], incapable of matching Russia’s output of [[artillery]] shells, and has become largely a service economy. The United States is no longer an industrial powerhouse.
Russian [[GDP]] nominally rose more than any [[G7]] country in 2023. The average Russian household ended the year with about 18% more money in the [[bank]] than a year earlier. Sberbank, Russia’s largest state-controlled bank, posted a 5.5-fold year-on-year net profit jump to a record high of 1.5 trillion rubles (USD $16.3 billion). The defense industry employs 3.5 million people and many factories have doubled their workforce since the beginning of the [[SMO]]. The economic boom is result of defense [[stimulus]] spending, [[Keynesian economics]], a government [[deficit]]s. Compared to the [[United States]], Russia is a piker in the debt markets. The U.S. gas $35 trillion [[national debt]] and growing), nearly a $1 trillion dollar defense budget, does not produce tanks, failed to produce a functional [[hypersonic missile]], incapable of matching Russia’s output of [[artillery]] shells, and has become largely a service economy. The United States is no longer an industrial powerhouse.
As trade ties between Russia and the [[EU]] were severed, Central Asian EU-trade increased to allow the reexport of EU goods (including dual use) to Russia. Trade with [[Kazakhstan]], [[Kyrgyzstan]] and [[Uzbekistan]] increased. The Eurasian Economic Union (EEU) became an effective mechanism for sanctions avoidance.
To give one example, German luxury car export to Kyrgyzstan increased by 31,000%. A major Russian [[gas]] deal with Uzbekistan and a $6bn [[coal]] deal with Kazakhstan, where almost 50% of foreign companies registered are now Russian, attest to an intensification of ties. Additionally, the multi-modal Middle Corridor was expected to replace the sanctioned Northern Corridor running through Russia. But the Middle Corridor still faces infrastructure bottlenecks and the Northern Corridor now transits pre-war volumes again. Central Asian [[migrant]] [[labor]] remittances increased, constituting 20% of Uzbek GDP, and higher percentages in Kazakhstan, Kyrgyzstan and [[Tajikistan]].
==See also==
==See also==