Sweden’s military intelligence claims Russia manipulates economic data to mask its true economic state while maintaining its strategic political and military objectives.
STOCKHOLM: Sweden’s Military Intelligence and Security Service (MUST) has accused Russia of manipulating its financial data to conceal the true state of its economy.
In a statement issued late Monday, the intelligence service asserted that official Russian figures showing falling GDP and weak industrial production are misleading.
MUST stated that Russia is likely suffering from higher inflation and a larger budget deficit than it publicly acknowledges.
The agency calculated that despite recent high oil prices boosting revenues, Russia would need oil to remain above USD 100 per barrel for an entire year to remedy its budget deficit.
“The weak economy does not affect the strategic objectives,” said MUST head Thomas Nilsson.
The intelligence service assessed that Russia remains committed to continuing its war in Ukraine and conducting hybrid activities in EU and NATO countries.
“It is a political decision, not an economic one,” Nilsson explained regarding Russia’s strategic aims.
He added, however, that “the economic constraints and sanctions do affect what kind of military capabilities Russia can muster, and how quickly this can be done.”
