RUSSIAN ECONOMIC DELUSION AND MILITARY ATTRITION
The summer economic forum in St. Petersburg used to be a vanity fair of Russian opulence and corruption as “Russia’s Davos.” But last week’s (6/14-17) modest, if not frugal, event was rather an exercise in self-reassurance of sustainable stagnation.
The international profile of the event was seriously curtailed, and the guest of honor was Algerian President Abdelmadjid Tebboune, who was eager to agree “with everything Comrade Putin said” and to sign the declaration of an “enhanced strategic partnership” between the two countries (Kremlin.ru, June 15).
Putin’s speech was entirely devoted to amplifying positive news about Russia’s economic performance, which according to his estimates, is still capable of delivering the volume of weapons necessary for sustaining the “special military operation” and providing broad prosperity (Kommersant, June 17).
Unemployment is indeed low, due to extra-high out-migration, but as for the alleged decline of poverty, that has been achieved primarily by doctoring the data (The Insider, June 16).
Economic statistics have indeed become scarce and carefully “improved,” thus enabling Putin to assert the diminishing dependency on oil revenues and the benefits of high war expenditures without any concern for a seeming departure from reality (Moscow Times, June 16).










