Russia’s economy weakened in October
Russia Russia’s economy weakened in October Russian economic growth has slackened since the summer’s brisk recovery, with volatile development across branches. Manufacturing and agriculture weighed ...
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Budget deficits drain Russia’s Reserve Fund
Budget deficits drain Russia’s Reserve Fund In August, the government withdrew 390 billion rubles ($6 billion) in assets to cover the federal budget deficit. Even so, the Reserve Fund still held at m...
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Russia prepares for serious budget tightening
Russia prepares for serious budget tightening The government earlier this month gave its initial approval to the 2017–19 federal budget framework. Finance minister Anton Siluanov said the budget reve...
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Russia seeks ways to reduce grey pay
Russia seeks ways to reduce grey pay Facing budgetary shortfalls, the government is trying to increase revenues also by improving tax collection. Finance minister Siluanov has noted that grey wages ...
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Debate on oil taxation continues in Russia
Debate on oil taxation continues in Russia The finance ministry has prepared a proposal that calls for shifting the emphasis from taxing production and exports to taxing oil company profits. The appr...
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Russia posts weak economic figures for May
Russia posts weak economic figures for May Several short-term economic indicators suggest growth has not yet returned to Russia. While May industrial output was up 0.7 % y-o-y overall and manufacturi...
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Russia dips further into its reserve funds
Russia dips further into its reserve funds Another 390 billion rubles ($6 billion) was lifted from the Reserve Fund in May to cover the budget deficit. The Reserve Fund at the end of May was valued a...
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Russia discusses caps on oil production
Russia discusses caps on oil production The energy ministers of Russia and Saudi Arabia, the world’s two largest crude exporters, met last week with representatives from Kuwait and Venezuela. They ag...
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Consumption down across Russia in 2015
Consumption down across Russia in 2015 Retail sales volumes fell 8–13 % in six of Russia’s federal districts, a significantly larger drop than in the 2009 recession. Of Russia’s 83 administrative re...
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Russia behind China in most international comparisons
Russia behind China in most international comparisons The latest World Economic Forum (WEF) Global Competitiveness Report 2015-16, which rates competitiveness among 140 countries, ranks Russia 45 and...
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Russia’s foreign debt remains unchanged
Russia’s foreign debt remains unchanged The Central Bank of Russia estimates that Russia’s foreign debt stood at nearly $560 billion (30 % of GDP) as of end-June. Russia’s second-quarter foreign deb...
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Russia resumes TIR freight customs arrangement
Russia resumes TIR freight customs arrangement Goods shipments under the TIR treaty (Transports Internationaux Routiers or International Road Transport) enjoy expedited treatment at border crossings...
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Real wages continue to slide in Russia
Real wages continue to slide in Russia Real wages declined in the fourth quarter of 2014 – the first time this has happened since the 2009 recession. The decrease has continued this year. For Januar...
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BOFIT Forecast for Russia 2026–2028 / 1
Russia,forecast BOFIT Forecast for Russia 2026–2028 / 1 Growth of the Russian economy slowed to 1 percent last year. Weaker trends in private consumption and fixed investment were major drags on gro...
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Fixed investment growth in Russia came to a standstill last year
BOFIT Weekly Review,Russia Fixed investment growth in Russia came to a standstill last year Russian fixed investment experienced across-the-board weakening last year, with completion of budget-funde...
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Transit shipments through Finland to Russia contracted sharply last year, while transit freight from Russia rose
Transit shipments through Finland to Russia contracted sharply last year, while transit freight from Russia rose The value of transit freight to Russia via Finland contracted last year by over a fift...
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Russia hosts African leaders at first Russia-Africa summit
Russia Russia hosts African leaders at first Russia-Africa summit On October 23–24, Russia hosted the Africa-Russia Economic Forum in the Black Sea coastal city of Sochi. Egypt, the current chairman...
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BOFIT Forecast for Russia 2023-2024
BOFIT,Russia,forecast,webinar BOFIT Forecast for Russia 2023-2024 will be published in Teams webinar on September 14, 2023 BOFIT released its update to Russia forecast for years 2023–2024 on Se...
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Corruption dies hard in Russia
Russia Corruption dies hard in Russia Russia has performed equally worse in Transparency International’s (TI) Corruption Perception Index rankings during recent years. Russia’s overall point score h...
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Russia ratifies Caspian Sea accord
Russia Russia ratifies Caspian Sea accord The five littoral states of the Caspian Sea (Russia, Kazakhstan, Turkmenistan, Iran and Azerbaijan) negotiated for two decades on territorial demarcation an...
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