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
Contractions in Russian exports and imports intensified
Contractions in Russian exports and imports intensified Preliminary CBR balance-of-payments figures show export earnings on goods and services in the fourth quarter of 2014 fell 19 % in dollar terms ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian interest rates surged late last year
Russian interest rates surged late last year In order to calm inflation and capital exports, the Central Bank of Russia last year raised its key rate (the 7-day repo credit rate) six times. Over the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
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
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
Signs that Russian economy’s decline may be stabilising
Signs that Russian economy’s decline may be stabilising The on-month contraction in seasonally adjusted industrial output as well as a core part, i.e. manufacturing output, was smaller in June than ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR surprises with 2 p.p. cut in key rate
CBR surprises with 2 p.p. cut in key rate The key rate was lowered to 15 % starting from Monday (Feb 2). The Central Bank of Russia said the rate cut was possible because its 6.5-percentage-point inc...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian government supports investment in production focused on import substitution
Russian government supports investment in production focused on import substitution The state Industry Development Fund has selected its first candidates for financing support. The projects to be fin...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR lowers key rate
CBR lowers key rate Effective Tuesday (May 5), the Central Bank of Russia lowered its key interest rate by 1.5 percentage points to 12.5 %. It was the third rate cut this year. The central bank said ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR cuts key rate to 14 %
CBR cuts key rate to 14 % Last Friday (Mar. 13), the Central Bank of Russia cut its key rate one percentage point on the heels of its February lowering to 15 %. With risks of weaker economic growth s...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian government budget revenues and spending at high levels; deficit vanishes
Russia Russian government budget revenues and spending at high levels; deficit vanishes Russia saw the pace of budget revenue growth accelerate further in the third quarter, i.e. a more than 40 ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Russian pensioners and select public sector workers receive notable one-time stimulus payments this month
Russia Russian pensioners and select public sector workers receive notable one-time stimulus payments this month On August 24, president Vladimir Putin decreed a one-time stimulus payment to pension...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Recovery of Russian economy continues
Russia Recovery of Russian economy continues Russia’s Ministry for Economic Development estimates that GDP grew in March by 0.5 % y-o-y, while GDP was still down by over 2 % y-o-y in Janua...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Russian manufacturing shrank 5 % last year
Russian manufacturing shrank 5 % last year The production of basic necessities seems to be performing best among manufacturing branches. The ruble’s devaluation has boosted prices of imported goods, ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
China posted strong export performance last year; fossil fuels represent a large share of imports
China,economy,BOFIT Weekly Review China posted strong export performance last year; fossil fuels represent a large share of imports China Customs reports that the dollar value of China’s goods expor...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2025
Rosstat released revised figures for GDP and domestic demand in 2016 and 2017
Russia Rosstat released revised figures for GDP and domestic demand in 2016 and 2017 Rosstat’s revised figures for 2017 GDP released in December slightly increase reported growth from 1.5 % to ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian growth in the past couple of years driven largely by extractive sector, trade and public administration
Russia Russian growth in the past couple of years driven largely by extractive sector, trade and public administration New GDP data show that among the largest sectors output of extractive industrie...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian retail sales up overall, but growth has slowed in recent months
Russia Russian retail sales up overall, but growth has slowed in recent months The volume of retail sales last year grew by 2.6 % y-o-y. The pace of growth varied during the year, however, slowing t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Another cut in the key rate from the CBR
Russia Another cut in the key rate from the CBR At its final interest-rate meeting of the year, the CBR board decided to keep easing monetary policy and cut the key rate by 50 basis points. Since la...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017