Is Russia's finances on the brink? Some economists are judging its economy by looking at Moscow from space; here's how
Elisabeth Svantesson, nighttime satellite photos of Russia's capital is being used to understand the latest standing of the Russian economy.
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Is Russia's economy diminishing like its skyline?
Svantesson is of the opinion that inflation figures quoted by Russia's central bank were just a big understatement, while also suggesting that the images of Moscow before the 2022 invasion of Ukraine were relatively brighter than the current nighttime satellite grabs.
These statistics were presented by the Swedish finance minister during a World Economic Forum event in Davos, where she was a part of an esteemed panel. The claim that the city was relatively darker in 2023, than it was in 2021 tries to indicate that the county's economy and population could be in danger. However, it is tough to make the correct assumption as there would be major differences in cloud cover and daytime data across two years, says a Business Insider report.
Putin hiding Russia's true financial status?
Svantesson is trying to stay firm on the fact that the Russian economy is just not as strong as Vladimir Putin wants the rest of the world to think. She also said that the Russian inflation data was much high than the figures posted through official channels of the Russian central bank.
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