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.
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.