Despite signs of economic recovery, imbalances in the Russian economy continue to grow
#russia Despite signs of economic recovery, imbalances in the Russian economy continue to grow Ruble depreciation While Yevgeny Prigozhin’s short-lived insurrection had little immediate economic con...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
Finnish-Russian trade contracted last year
Finnish-Russian trade contracted last year The value of Finnish goods exports to Russia last year was just €4.6 billion, its lowest level since 2009. While the value of exports was down 14 % y-o-y fo...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Trump signs new Russian sanctions bill
Russia,economy Trump signs new Russian sanctions bill The "Countering America's Adversaries Through Sanctions Act" tightens some of existing sanctions on Russia, creates the possibilit...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Latest BOFIT forecast sees Russian economy returning to modest growth next year
Russia Latest BOFIT forecast sees Russian economy returning to modest growth next year The coronavirus pandemic and turbulence in the global oil markets have battered the Russian economy this year. ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russian imports suffer as economy falters
Russian imports suffer as economy falters Preliminary Rosstat figures show the pace of contraction in Russian GDP reached 4.6 % y-o-y in the second quarter of this year. At the same time, the dollar ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian crude oil production hits record levels
Russia Russian crude oil production hits record levels Russian crude oil production (including gas condensates) last year edged up by a percent. The output was 560 million tons (11.3 million barrels...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Eurasian Economic Union agreement entered into force yesterday
Eurasian Economic Union agreement entered into force yesterday The Russia-Belarus-Kazakhstan customs union, which was established in 2010, became the Eurasian Economic Union (EEU) on Thursday (Jan. 1...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Latest BOFIT forecast sees Russian GDP growing this year, but sustaining growth will be difficult
Latest BOFIT forecast sees Russian GDP growing this year, but sustaining growth will be difficult BOFIT forecast sees 2 % GDP growth for this year, but a gradual fading in growth is underway alr...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
Putin and Xi met in Samarkand as trade between their countries has strengthened
China Putin and Xi met in Samarkand as trade between their countries has strengthened On September 15, Xi Jinping and Vladimir Putin conferred in the Uzbek city at a meeting of the eight-nation Shan...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
OPEC+ keeps production ceilings in place
Russia OPEC+ keeps production ceilings in place At the start of this week, the so-called OPEC+ league of oil producing countries reached agreement on extending production ceilings of its members by ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Kazakhstan’s acting president Tokayev wins presidential election
Russia Kazakhstan’s acting president Tokayev wins presidential election The tallied results from the presidential elections held last Sunday (June 9) show Kassym-Jomart Tokayev garnered 71 % of...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian economy continued to slide in May
Russia Russian economy continued to slide in May The broader impacts from Russia’s invasion of Ukraine in late February have gradually emerged throughout the Russian economy. High inflation erodes R...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
In Russian labour markets wages adjust downwards relatively easily
In Russian labour markets wages adjust downwards relatively easily The Centre for Strategic Research, an institute headed by former finance minister Alexei Kudrin, recently released a wide-reaching r...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
National Welfare Fund stabilises at 12 % of GDP
Russia National Welfare Fund stabilises at 12 % of GDP As of end-June, Russia’s National Welfare Fund, which holds surplus oil & gas revenues, was worth about 187.6 billion USD or 11.7 % of...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
National Welfare Fund now exceeds 11 % of GDP after transfers of last year’s excess oil and gas tax earnings
National Welfare Fund now exceeds 11 % of GDP after transfers of last year’s excess oil and gas tax earnings On March 19, Russia’s finance ministry reported that it had completed the final transfer o...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russian and Indian leaders meet to discuss economic relations
Russia Russian and Indian leaders meet to discuss economic relations Russian president Putin hosted the leaders of India, Japan, Mongolia and Malaysia at the Eastern Economic Forum on September 4−6 ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian foreign trade contracts slightly
Russia Russian foreign trade contracts slightly Preliminary balance-of-payments figures released by the Central Bank of Russia show that Russian earnings from exports of goods and services fell in t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Dollar remains the dominant billing currency in Russian foreign trade
Russia Dollar remains the dominant billing currency in Russian foreign trade The Central Bank of Russia reports that 67 % of invoicing on exports last year was in dollars, 17 % in euros an...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian services trade grew last year
Russia Russian services trade grew last year The Central Bank of Russia reports that services exports last year rose by 12 % and service imports by 7 %. Thanks to some extent to the FIFA World Cup, ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian oil production expected to increase slightly in coming years
Russia Russian oil production expected to increase slightly in coming years According to the July forecast by Russia's economic development ministry, Russia will this year produce 549 million to...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018