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Message: <blockquote data-quote="Fishalt" data-source="post: 41588" data-attributes="member: 228">Russia also just became the largest economy in Europe.This is what M1A2 doesn't understand (among many other things). Exchange rates are not what matters. Purchasing power is what matters. Money only has relative value in the frame of what one can buy with it.Russia was among the world’s five largest economies and the largest in Europe in terms of purchasing power parity (PPP) as of the end of 2022, despite Western sanctions, the latest World Economics report has revealed. According to estimates based on official country data published by the World Bank and the IMF, Russia's gross domestic product was $5.51 trillion in PPP terms at the end of last year. The figure is 38% larger than the official estimate of $3.993 trillion, the report noted.It also showed that the Russian economy was ahead of Germany’s when measured in purchasing-power parity, with the latter’s GDP at $5 trillion.China topped the list as the world’s biggest economy ($31 trillion), followed by the US, India, and Japan. The top 10 also included Indonesia, Brazil, and Türkiye.The IMF and World Bank both recently raised their forecasts for the Russian economy, saying GDP would continue to grow despite sanctions, underpinned by strong trade and industrial production, as well as higher-than-expected energy revenues.<a href="https://www.rt.com/business/580817-russia-europe-biggest-economy/" target="_blank">https://www.rt.com/business/580817-russia-europe-biggest-economy/</a></blockquote>

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