CBR suspends foreign currency purchases tied to the fiscal rule until the end of September
Russia CBR suspends foreign currency purchases tied to the fiscal rule until the end of September Since the beginning of 2017, the Central Bank of Russia has purchased daily a pre-announced amount o...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Putin visits Uzbekistan
Putin visits Uzbekistan President Vladimir Putin visited Uzbekistan this week to extend his condolences for the death of the country’s long-time president Islam Karimov and to meet with Uzbekistan’s ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Fast growth in household lending in 2017
Russia Fast growth in household lending in 2017 The CBR reports that the bank credit stock rose by 3.5 % when exchange rate shifts are included. The stock of corporate loans was largely unchanged, w...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russian social security system – expensive and rigid
Russian social security system – expensive and rigid A fresh World Bank report finds Russia's social security costly and complex. Social spending on federal and regional levels, and via social fu...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Russian agriculture enjoys another year of growth
Russia Russian agriculture enjoys another year of growth While agricultural output grew almost every year over the past decade, 2020 was no exception even if growth slowed down to about 1.5 %. ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Even with stabilisation of oil prices, the ruble has lost value in recent months
Russia Even with stabilisation of oil prices, the ruble has lost value in recent months The external value of the ruble has traditionally tracked – almost slavishly – changes in world crude oil pric...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Brisk growth in Russian goods trade continues
Russia,economy Brisk growth in Russian goods trade continues The dollar value of goods exports and imports rose by nearly 30 % y-o-y in the first six months of 2016. In the second quarter, import gr...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Contraction of the Russian economy slowed this year
Contraction of the Russian economy slowed this year Rosstat reports that GDP fell 1.2 % y-o-y in the first quarter. Russia’s economy ministry noted that the impact of leap year blunted the drop. The ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Shanghai Cooperation Organization meets in Tashkent
Shanghai Cooperation Organization meets in Tashkent The Shanghai Cooperation Organization (SCO), founded in 2001, consists of Russia, China and four Central Asian countries (Uzbekistan, Kazakhstan, K...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian oil production growth slows
Russian oil production growth slows Preliminary figures from Russia’s energy ministry show oil output (incl. gas condensates) grew 2 % y-o-y in the first half of 2016. Output growth has slowed in rec...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
CBR keeps key rate unchanged at 11 %
CBR keeps key rate unchanged at 11 % The Central Bank of Russia stated that inflation has slowed down in recent months, but inflation risks remain elevated. Hence, the CBR board of directors decided ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Recession hits Russian regions
Recession hits Russian regions Private consumption has fallen considerably. The volume of retail sales in the first half was down 6–12 % y-o-y in most of the eight Federal Districts. The decline in t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
President Putin speaks to foreign investors at St. Petersburg international economic forum
President Putin speaks to foreign investors at St. Petersburg international economic forum Putin thanked investors who have continued to operate in Russia despite the political situation. He noted t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Ruble appreciation enters third month
Ruble appreciation enters third month The ruble’s recent recovery reflects stabilisation of global oil prices and reduced foreign currency demand in Russia. Demand for foreign currency is no longer a...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
BOFIT forecast sees lower growth of Russian economy ahead
Russia,forecast BOFIT forecast sees lower growth of Russian economy ahead While Rosstat’s 2.3 % initial estimate for Russian 2018 GDP growth clearly exceeded expectations, our latest BOFIT Fore...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Large disparities in Russian regional economic development
Large disparities in Russian regional economic development Apart from the Siberia and Far East federal districts, manufacturing output has risen over the past 3−4 years continuously in Russia’s other...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
B&N Bank now under CBR administration
Russia B&N Bank now under CBR administration B&N Bank now under CBR administration On Thursday (Sept. 21), the Central Bank of Russia announced it would become the largest shareholder in tr...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
BOFIT sees Russian economy continuing moderate growth in coming years
Russia,forecast BOFIT sees Russian economy continuing moderate growth in coming years Lifted by higher oil prices, Russian GDP has returned to positive growth this year as anticipated. BOFIT's l...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Center for Strategic Research report finds little progress in economic reforms
Center for Strategic Research report finds little progress in economic reforms A new report from the Center for Strategic Research (CSR), which is headed by Russia’s former finance minister Alexei Ku...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
State banks dominate Russian banking sector
Russia State banks dominate Russian banking sector A total of 499 banks operated in Russia at the end of October. Despite the high number of bank businesses, the banking sector is highly concentrate...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019