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 ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
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 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
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 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
Concerns emerge over Russia’s slowing growth
russia,economy,BOFIT Weekly Review Concerns emerge over Russia’s slowing growth Rosstat this week affirmed its preliminary first-quarter GDP growth estimate of 1.4 % y-o-y, bolstering the view that ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2025
Russia to dip into its sovereign funds
Russia to dip into its sovereign funds At the end of January, Russia’s sovereign funds amounted to $160 billion. Tax revenues from oil and gas have been accumulated to the funds since 2003. While the...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Latest economic data for Russia looks promising
Russia Latest economic data for Russia looks promising The acceleration of the covid-19 pandemic in Russia during the second half of 2020 reduced economic activity due to such factors as restriction...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
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
Employment in Russia has continued to rise
Russia Employment in Russia has continued to rise Rosstat’s second-quarter labour force survey finds that the number of employed persons rose further on-year despite the economic downturn. On the ot...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Finnish trade with Russia collapsed last year
Russia Finnish trade with Russia collapsed last year Preliminary figures from Statistics Finland suggest that the value of Finnish exports of goods and services to Russia contracted by about 20 ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
EU and Russia both extend economic sanctions
EU and Russia both extend economic sanctions The EU voted on Monday (June 22) to keep economic sanctions against Russia in place through January 2016. These sanctions were imposed last August and ex...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russia lays out hydrocarbon-based energy strategy
Russia,energy,economy Russia lays out hydrocarbon-based energy strategy The Russian government prepares a national energy strategy at regular intervals. The 2009 strategy paper, which covered the p...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
BOFIT Forecast for Russia 2024-2026 / 2
<p>The latest forecast from BOFIT, the Bank of Finland’s Institute for Emerging Economies, sees Russian economic growth this year exceeding its previous estimate made last April. The higher 2024...
Bofit.fi / Bofit homepage / BOFIT / News / 2024
Sanctions on Russia further tightened in June
Russia Sanctions on Russia further tightened in June The European Union, United States and United Kingdom expanded their economic sanctions on Russia in June. The new round of sanctions are intended...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Covid-19 subdues private consumption in Russia
Russia Covid-19 subdues private consumption in Russia Although Russian GDP still grew by 1.6 % y-o-y in the first quarter of this year, it contracted by 8.0 % in the second quarter as the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
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
Russia’s foreign currency reserves stabilised
Russia’s foreign currency reserves stabilised Although Russia’s foreign currency reserves shrank visibly overall in the first half of this year, the situation has ceased to deteriorate in recent mon...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Private demand down sharply in Russia
Private demand down sharply in Russia Following December’s shopping spree sparked by the ruble’s fall, the volume of seasonally adjusted retail sales fell three months in a row. Thus, first-quarter ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015