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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia debates course of economic policy
Russia debates course of economic policy The economic council led by the president is set to prepare over the next year a new economic policy programme for Russia that will extend through 2025. The w...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia’s import substitution commission reviews progress
Russia’s import substitution commission reviews progress At the import substitution commission meeting at the end of April, the commission’s chairman, prime minister Dmitri Medvedev, noted that by no...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia’s services trade shrinks sharply
Russia’s services trade shrinks sharply The value of Russian services exports last year was $52 billion and services imports $88 billion. Services accounted for about 13 % of total exports and nearly...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Bank lending growth slows in Russia
Russia Bank lending growth slows in Russia In 2019, banks’ lending to the corporate sector slowed down and the nominal value of the loan stock, calculated in rubles, increased by just 1.2 %. Ab...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Rapid housing loan growth in Russia continues
Russia Rapid housing loan growth in Russia continues The growth in mortgage lending accelerated in the first three months of this year. In March alone, banks granted new housing loans worth a total ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Finland’s exports to Russia shrank further
Finland’s exports to Russia shrank further The value of Finnish goods exports to Russia was down 8 % y-o-y in 3Q16, and down 3 % y-o-y for September. Machinery & equipment and chemicals form the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia on track for record grain harvest
Russia on track for record grain harvest Preliminary figures suggest the grain harvest this year will exceed 123 million metric tons, and increase of about 15 % over last year. Thanks to good weather...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia’s economic recovery still uncertain
Russia’s economic recovery still uncertain October figures for seasonally and workday-adjusted industrial output showed slight improvement from September, even if they were roughly unchanged from the...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia's middle class hit by recession
Russia's middle class hit by recession A new Sberbank survey finds that the number of Russians that see themselves as middle class has declined sharply over the past two years. A study from the I...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Bleak outlook for Russia’s government finances
Bleak outlook for Russia’s government finances In its fresh budget policy framework for 2017‒2019, the finance ministry sees revenues to the consolidated budget (federal, regional and municipal budge...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Still waiting for Russia’s economic recovery
Still waiting for Russia’s economic recovery The latest Rosstat figures on GDP demand components and imports show that the volume of Russian exports of goods and services recovered from a first-quart...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia approves 2016 anti-crisis economic programme
Russia approves 2016 anti-crisis economic programme Over its several weeks of planning, the anti-crisis programme has seen its price tag repeatedly reduced as Russia’s fiscal outlook faltered. Fundin...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Profitability of Russia’s banking sector weakens
Profitability of Russia’s banking sector weakens Growth of Russia’s banking system largely stopped last year and profitability fell significantly. The Central Bank of Russia reports the banking secto...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Monetary policy easing continues in Russia
Russia Monetary policy easing continues in Russia At its February meeting, the board of the Central Bank of Russia decided to reduce the key rate by another 25 basis points to 6 % p.a. Consumer...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020