Russian State Duma Member Fumes Over Fiscal Deficit
A member of the Russian State Duma expressed anger, stating that the fiscal deficit has reached approximately 11 trillion rubles, saying, "Damn it!" He questioned, "What should we do? Print money? Like in 1992, when prices rose by 30% every week?"
The member's remarks reflect the severe fiscal pressure currently faced by Russia, primarily due to ongoing military expenditures, the impact of sanctions, and structural economic issues.
This public statement highlights the growing internal concerns in Russia regarding fiscal sustainability.
Source: Public Information
ABAB AI Insight
The anger expressed by the Russian State Duma member continues the long-standing dissatisfaction within Russia regarding the high military spending leading to fiscal deficits. Since 2022, military expenditures have significantly increased due to the conflict in Ukraine, while limited energy exports have pressured fiscal revenues. The current deficit of 11 trillion rubles is nearing historical highs.
On the capital front, the Central Bank of Russia is maintaining balance through the issuance of government bonds and limited monetary tools, but the member has clearly opposed large-scale money printing. Resources are being concentrated in military, energy alternatives, and import substitution sectors, motivated by the desire to avoid a repeat of the hyperinflation of 1992 and to maintain the stability of the ruble.
Similar to the hyperinflation following the shock therapy of the 1990s in Russia, and the recent currency crises in countries like Iran and Turkey due to fiscal imbalances, Russia is currently at a stage of intense conflict between high military spending and fiscal sustainability.
Essentially, this reflects regulatory changes and capital concentration: the fiscal deficit is approaching a critical point, driven by the rigidity of war spending and the dual pressure of sanctions, forcing Russian capital to shift from consumption and non-essential areas to strategic military, energy, and import substitution industries. Meanwhile, the strong political resistance to money printing reflects a profound historical memory of hyperinflation.
ABAB News · Cognitive Law
Once the fiscal deficit spirals out of control, printing money is always the last poison.
War is easy to finance, but repaying it requires the entire nation to bear the cost.
The most profound historical lessons often come just before another repetition of the past.