Russia refining an increasing share of its oil production domestically
Russia refining an increasing share of its oil production domestically While crude oil production increased slightly in 2014 (0.5 %), the volume of crude oil exports decreased 6 % y-o-y. This means ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
China increases oil imports from Southeast Asia and Russia to make up for lost Persian Gulf imports
BOFIT Weekly Review,China China increases oil imports from Southeast Asia and Russia to make up for lost Persian Gulf imports China Customs reports that nearly as much crude oil was imported into th...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2026
Russia’s economic growth slows further in August; BOFIT forecasts lower growth in the years ahead
Russia,economy Russia’s economic growth slows further in August; BOFIT forecasts lower growth in the years ahead GDP growth slowed in August The preliminary estimate of the economic development min...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Russia plans on increasing government spending next year; fighting inflation could become more difficult
Russia,economy Russia plans on increasing government spending next year; fighting inflation could become more difficult Federal budget revenues and spending set to rise next year Russia’s new budget...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Russia continued on a more moderate growth path in July; fixed investment supported first-half growth
Russia Russia continued on a more moderate growth path in July; fixed investment supported first-half growth Russian economic growth slowed significantly in June, but sustained its lower pace in Jul...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2024
Stimulus included in Russia’s 2020−2022 government sector budget framework
Russia Stimulus included in Russia’s 2020−2022 government sector budget framework The finance ministry’s three-year fiscal framework covers the entire consolidated budget. That includes the federal ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia’s central bank lowers key rate and revises forecasts downwards
Russia Russia’s central bank lowers key rate and revises forecasts downwards On September 6, the Central Bank of Russia’s board of directors again lowered the key rate by 0.25 percentage points...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia moves its large excess oil tax revenues from 2018 into the reserve fund
Russia Russia moves its large excess oil tax revenues from 2018 into the reserve fund The finance ministry deposited over 65 billion dollars (equal to about 4 % of GDP) in the National Wel...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Significant economic differences across Russia’s cities with populations of more than one million
Russia Significant economic differences across Russia’s cities with populations of more than one million Russia has 16 cities with more than a million inhabitants. The five biggest cities after Mosc...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Difficult to form a full picture of Russia’s sizeable public sector procurements
Russia Difficult to form a full picture of Russia’s sizeable public sector procurements Russia’s finance ministry reports that public sector contracts made last year under procurement oversight...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Direct investment outflows from Russia remain significantly larger than FDI inflows
Russia Direct investment outflows from Russia remain significantly larger than FDI inflows Flows of direct investment to and from Russia’s non-bank corporate sector have been smaller over the past f...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia’s national ecology project addresses a range of environmental issues
Russia Russia’s national ecology project addresses a range of environmental issues One of the twelve programmes included in president Putin’s inaugural May Decrees of 2018 (BOFIT Weekly 08/2019) see...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia’s goods trade surplus last year was larger than before
Russia Russia’s goods trade surplus last year was larger than before Russian customs reports that in 2018 the country’s goods trade surplus climbed to 212 billion dollars, or roughly 12 % of GD...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia and Turkey celebrate progress in Black Sea gas pipeline project
Russia Russia and Turkey celebrate progress in Black Sea gas pipeline project The new Black Sea gas pipeline Turkish Stream (TurkStream) runs under the sea bottom from Krasnodar to west of Istanbul....
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia was ranked the 43th most competitive country by the World Economic Forum this year
Russia Russia was ranked the 43th most competitive country by the World Economic Forum this year The annual Global Competitiveness Report released last week included 140 countries. Russia’s ranking ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
The role of the US dollar as a payment currency is under discussion in Russia
Russia The role of the US dollar as a payment currency is under discussion in Russia According to finance minister Anton Siluanov, the cabinet has taken up discussion of a de-dollarisation programme...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
IMF’s annual Article IV consultations with Russia stress ongoing need for reform
Russia IMF’s annual Article IV consultations with Russia stress ongoing need for reform The IMF expects Russian GDP to grow by 1.7 % this year and 1.5 % next year if the oil price remains roughly ar...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Measured in dollars, Russia’s average wage declined over 30 % last year
Measured in dollars, Russia’s average wage declined over 30 % last year Preliminary data show the average monthly wage in Russia in 2015 was 34,000 rubles ($560, €500). Nominal wages increased 4.5 % ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Capital flows between Russia and the rest of the world remarkably small
Capital flows between Russia and the rest of the world remarkably small Preliminary balance-of-payments figures show that the net outflow of private capital fell in 2015. This was despite banks payi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Separate development plan approved for areas near Chinese border in Russia’s Far East regions
Separate development plan approved for areas near Chinese border in Russia’s Far East regions In recent years, Russia has focused greater attention on its Far Eastern regions, but despite development...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015