Consumed goods such as luxury food etc has no
further economic multiplier either but are always
included in the GDP.
Re: Goosing the economy via debt:
(a) The USA has been doing so big time since its induced
GFC but that has not sent its economy into a tailspin (yet)
(b) Aus has run over 10 years of budget deficits up to last
year and that has not sent the Aus economy into a tailspin.
IMO the serious negative in the Russian economy is
inflation/high interest rates. That said western economies,
particuluarly the USA has managed that withoiut a hard landing (yet)
Russia, more than the average Western Economies , has a high
%age of SOEs (State Capitalism ) and as such mare resembles
that of China than the West and, historically, these "command"
econoies have a better ability to quickly adjust (ie: China 2008-2011)
than say the USA or other Non-State Capitalist/so called Free Market Economies.
In summary, If the USA has been capable of avoiding Economic Depression
post the GFC by massive fiscal deficits (Debt....2008 approx $7 Trillion & now $34 Trillion)
then, IMO, Russia can readily weather at least 5 years more of budget deficits
at the rate of say -$200 Billion P/A.
Just as the politically motivated prophets of doom have been wrong about China,
IMO the same crop of fake prophets are also wrong about Russia.
That said, it hasn't been all beer and skittles for Russia last year as per the chart below
but obviously Russia has/is adapting this year to trade sanctions again as per the chart below
PS: If the Russian economy continues to grow at the current rate,
then the prospect of lifting sanctions will have less leverage in
peace negotions than say last year, IMO.