Economics
Putin’s Spending Spree Is So Far Just $53 Billion in the Bank
- Spending in 2019 is running at slowest pace in five years
- Budget surplus reached 3.8% of GDP by end of September
This article is for subscribers only.
Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.
The Russian government’s unusual stinginess with spending this year has turned it into one of the biggest depositors in the banking system, fattening the balance sheets of big state banks and depressing deposit rates.