So whats gone wrong with the economics? The short answer is - TopicsExpress

So whats gone wrong with the economics? The short answer is nothing. It is just that economics are now almost irrelevant. If economics were the only driver, then the ruble would still be trading not far off 40. That is technically the fair value of the currency based on where oil is currently trading and on the key macro indicators for the economy. Unlike most other countries in the world, Russia has a triple surplus in terms of the federal budget, which equalled 2.1 percent of GDP, or $32 billion, at end-September; a $151 billion trade surplus for the past three quarters and a year-to-date current account surplus of $52 billion compared with only $26 billion this time last year. #Ruble #Russia

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