Why were Biden's remarks about Russian economy in his speech in Poland so inaccurate? [closed]

The Politicus
Mar 27, 2022 12:33 PM 0 Answers
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In March 26 speech in Warsaw Biden claimed that "it takes about 200 rubles to equal one dollar". In reality, the onshore USD/RUB closed at 96.0, whereas offshore USD/RUB closed at 102.29.

Moreover, Biden said that "the economy is on track to be cut in half in the coming years". This seems to be a highly unconventional estimate, e.g. J.P.Morgan estimates that "A peak-to trough decline in Russian GDP is now expected at around 12%".

So, why were Biden's remarks so inaccurate?

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