Russian President Vladimir Putin has claimed that Russia's economy has surpassed all European countries and is now the largest economy on the continent in terms of purchasing power parity. According to Russian media outlet TASS, Putin made this statement during a meeting with entrepreneurs in Russia's Far East.
Total GDP on PPP basis has to be one of the most idiotic bullshit comparisons I have ever heard. Makes zero sense. Per capita GDP PPP comparison could at least pretend to be meaningful, but of course they would be far behind in that
I mean, like every tool, it serves a purpose. It’s just that in this case, they are using a really large hoe and pretending it’s the biggest and best shovel.
Petrostates and nations that are heavily reliant on one primary industry tend to have high PPP, look at Gabon, Brunei and Kuwait as oil examples or Bahamas, Antigua and Barbuda and Syria for other examples.