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
Russia brings in a hearty harvest
Russia Russia brings in a hearty harvest Two years ago weather conditions were very good, but last year heat and drought reduced the harvest. This year weather was again rather favourable. Harvests ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia and Belarus discuss deeper economic integration
Russia Russia and Belarus discuss deeper economic integration At the beginning of September, Russian Prime Minister Medvedev and Belarusian Prime Minister Rumas signed an action plan on creating a r...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
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 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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
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...
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
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
Russia’s banking sector reflects economic uncertainty
Russia’s banking sector reflects economic uncertainty Total assets of the Russian banking sector at the end of last year amounted to 77.663 trillion rubles, an increase of 18 % y-o-y (all figures rep...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russia’s forex markets remain turbulent
Russia’s forex markets remain turbulent After recovering considerable ground last week, the ruble resumed its decline this week. The ruble’s latest drop was apparently sparked by economy ministry dat...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Companies in Russia rely largely on domestic banks for financing
Russia Companies in Russia rely largely on domestic banks for financing Sanctions limit access to foreign lenders The access of large Russian corporations to international financial markets is extre...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Latest BOFIT Forecast for Russia sees lower economic growth ahead
Latest BOFIT Forecast for Russia sees lower economic growth ahead In the March update of our Forecast for Russia 2024–2026, we highlight capacity constraints as a major cause of Russia’s economic slo...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Russia plans further increases in government spending despite deficits
Russia plans further increases in government spending despite deficits Russia’s federal budget remained in deficit in 2023 According to the preliminary assessment released by Russia’s finance ministr...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Inflationary pressures in Russia still on the rise
Russia Inflationary pressures in Russia still on the rise Retail sales and war-related industries drove output growth in October Russia’s ministry for economic development estimates that GDP grew by...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
Ruble sinks even as Russia’s current account surplus grows
Ruble sinks even as Russia’s current account surplus grows Current account surplus increased in the third quarter Preliminary figures released by the Central Bank of Russia show the country’s third-q...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023