link : The Financial Costs To Russia On Its Invasion Of Ukraine Continues To Climb
The Financial Costs To Russia On Its Invasion Of Ukraine Continues To Climb
Latest Defence Intelligence update on the situation in Ukraine - 19 November 2022
— Ministry of Defence π¬π§ (@DefenceHQ) November 19, 2022
Find out more about the UK government's response: https://t.co/QETLoujAbb
πΊπ¦ #StandWithUkraine πΊπ¦ pic.twitter.com/Q0kqdha4pT
* Russia raised more than $13 billion in a day as the cost of Putin's war in Ukraine keeps mounting.
* Britain's Defence Intelligence said it was the largest amount Moscow had raised in a single day.
* Russia's defence spending for 2023 is estimated to be 40% higher than previously forecast.
Russia has raised more than $13 billion in just one day as the cost of Vladimir Putin's war with Ukraine keeps mounting. Britain's Ministry of Defence said on Saturday that the Russian Federation had conducted its largest debt issuance on Wednesday.
Its intelligence report also said that Russia's declared "national defence" spending in 2023 is estimated to be about 5 trillion rubles ($84 billion), or more than 40% higher than forecast.
The MoD report also indicated that Russia's finance ministry "perceives current conditions as relatively favorable but is anticipating an increasingly uncertain fiscal environment over the next year."
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Update #1: Russia Reportedly Raises $13 Billion for 2023 Defense Spending (VOA)
Update #2: Russia sells record daily volume of government bonds (Reuters)
WNU Editor: Before the war I warned that if Russia should decide to invade Ukraine, they will own it, and it would set back the Russian economy by a decade or two. Fortunately for Russia, they have hundreds of billions in reserves (Russia's international reserves up by $10bn in the first week of November to $552.1bn, BNE), and the resource/export markets to finance the war. But it is driving crazy that all of this wealth, and more, is going to be wasted in this war.
The situation for Ukraine is worse.
When this war is over, what is left of Ukraine will be a government and country owning hundreds of billions of dollars to the West, and a reconstruction bill that will approach 1 trillion dollars A bill that I expect will be entirely financed by debt.
The economic hardships are going to last for generations, and I for one would not be surprised if the youth in Ukraine will immigrate to the West to escape these economic hardships.
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