Rosstat releases latest quarterly GDP figures for this year
#Russia Rosstat releases latest quarterly GDP figures for this year Rosstat’s latest batch of economic figures show Russian GDP contracted by 3.7 % y-o-y in the third quarter. The preliminary e...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Slight reduction in foreign debt of Russian banks and other firms
Slight reduction in foreign debt of Russian banks and other firms Preliminary CBR figures show companies and banks in Russia (Russian and foreign-owned) owed $470 billion (€446 billion) in foreign de...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Russian employment numbers rose, while unpaid leave and part-time work increased
Russian employment numbers rose, while unpaid leave and part-time work increased Despite recession, Rosstat’s employment survey finds the number of people employed declined just modestly in 2015 and ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
CBR leaves key rate unchanged
CBR leaves key rate unchanged The Central Bank of Russia’s regular board meeting on December 16 decided to keep the key rate at 10 %, where it has remained since September. As of end-November, 12-mon...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
President Tokayev consolidates power in Kazakhstan
Russia President Tokayev consolidates power in Kazakhstan Rising fuels prices at the beginning of January ignited a wave of protests across Kazakhstan. To bring the violent protests under control, P...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Recovery in services boosts on-year GDP growth; seasonally adjusted GDP contracts from previous quarter
Recovery in services boosts on-year GDP growth; seasonally adjusted GDP contracts from previous quarter Russian third-quarter GDP was up by 4.3 % y-o-y and up by 0.6 % from two years previo...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Higher oil prices lift ruble’s exchange rate
Higher oil prices lift ruble’s exchange rate The rising price of Urals-grade crude oil since January has also boosted the ruble’s exchange rate. On Thursday (Apr. 7) the price of Urals crude was $36....
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Recovery of Russian economy moderated in August
Russia Recovery of Russian economy moderated in August The recovery in consumption-driven branches began to fade slightly in August, while primary production supported the overall economy. Although ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russian central bank keeps rates unchanged
Russian central bank keeps rates unchanged The Central Bank of Russia last week decided to keep its key rate at 11 %, a level held since the start of August. The CBR noted that, while inflation risks...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Improved profitability of Russian firms early this year gave support to paying down foreign debt
Improved profitability of Russian firms early this year gave support to paying down foreign debt Even entering recession, corporate sector profits relative to GDP in the early months of this year soa...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR leaves key rate unchanged
CBR leaves key rate unchanged On October 28, the board of the Central Bank of Russia decided to keep its key rate at 10 %, where it has been since September 19. The CBR reiterated that no further rat...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Further tightening of Russian regional budgets
Further tightening of Russian regional budgets Nominal regional budget revenues in January-July 2016 were unchanged from January-July 2015. Transfers from the federal budget to regional budgets fell ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian central bank lowers key interest rate
Russian central bank lowers key interest rate At its monthly meeting last Friday (June 10), the Central Bank of Russia’s board of directors voted to lower the key rate by 50 basis points to 10.5 %. T...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Declining ruble exchange rate has sharply lowered external value of wages in all branches
Declining ruble exchange rate has sharply lowered external value of wages in all branches The average monthly Russian wage between April 2015 and March 2016 was €500. In manufacturing, it was about €...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian export earnings and import spending continue to fall
Russian export earnings and import spending continue to fall Preliminary balance-of-payments figures from the Central Bank of Russia show export earnings from goods and services fell by a third in th...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Lower oil prices hurting values of ruble and other CIS currencies
Lower oil prices hurting values of ruble and other CIS currencies At end-December, ruble hit new lows for the year pulled by declining oil prices. The ruble has renewed its slide in recent days as oi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Forecasters see the Russian economy contracting slightly in 2016
Forecasters see the Russian economy contracting slightly in 2016 Recent economic forecasts, with the exception of the brighter projection of Russia’s economy ministry, see GDP contracting about a hal...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Cheap oil hurts ruble
Cheap oil hurts ruble The recent slide in crude oil prices has again affected the Russian ruble’s external value. The price of Urals-grade crude oil has fallen by nearly 25 % since mid-October. Today...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian inflation remained moderate
Russia Russian inflation remained moderate February consumer prices were up by 2.3 % y-o-y. Inflation slowed slightly from the January pace of 2.4 %. Much of the drop can be attributed to ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Government wants to increase competition but also restrictions on public sector procurements
Government wants to increase competition but also restrictions on public sector procurements A recent economy ministry report notes that there is still plenty of room for increasing competition and t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015