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2022

  • 30 Dec 2022  

    ​BOFIT Weekly Review 52/2022

    • China sets out economic policy priorities for 2023 and longer-range outlines for 2035

    • US-China technology competition intensifies as trade structure shifts

    • China’s installed base of industrial robots surpassed one million last year

  • 23 Dec 2022  

    ​BOFIT Weekly Review 51/2022

    • One-off payments boost Russian federal budget revenues in November, spending continues to grow

    • Central Bank of Russia keeps key rate unchanged

    • EU and US further expand economic sanctions on Russia

    • Rosstat releases latest quarterly GDP figures for this year

    • Rising investment in Russia slows economic slide, but sees increased role of state-owned enterprises and the government

  • 16 Dec 2022  

    ​BOFIT Weekly Review 50/2022

    • Tough November for China’s economy as covid situation worsens and export demand evaporates

    • China abandons zero-covid policy

    • Poorer employment opportunities for young Chinese and internal migrants

  • 9 Dec 2022  

    ​BOFIT Weekly Review 49/2022

    • EU import ban and G7 price cap on Russian crude oil enter into force; EU plans further sanctions

    • Russian economy continued to contract in October

    • Russian households cut back on spending, durable goods most affected

    • Finland’s trade with Russia has collapsed

  • 2 Dec 2022  

    ​BOFIT Weekly Review 48/2022

    • Latest wave of protests in China distinctly different

    • Reducing emissions and slowing climate change also matters for Chinese economic performance

    • China’s central bank lowers reserve requirement for commercial banks

    • Finnish exports to China face headwinds

  • 25 Nov 2022  

    ​BOFIT Weekly Review 47/2022

    • Russian federal budget revenue streams at low level; spending continues to rise

    • Contraction of Russian GDP continued in the third quarter

    • Russia needs to find new export markets for oil ahead of EU sanctions entering into force

    • Growth in Indian imports from Russia begins to plateau

  • 18 Nov 2022  

    ​BOFIT Weekly Review 46/2022

    • China’s October economic figures suggest extensive economic problems

    • As the latest covid wave hits China, the government makes adjustments to covid rules

    • Use of the yuan in international foreign currency trading rises

  • 11 Nov 2022  

    ​BOFIT Weekly Review 45/2022

    • Contraction of Russian economy accelerated in September

    • Russian real household incomes slide

    • CBR kept key rate unchanged and released updated economic forecast

    • China’s exports to Russia continued to rise in October

  • 4 Nov 2022  

    ​BOFIT Weekly Review 44/2022

    • BOFIT expects relatively low growth for China over the next two years

    • Xi Jinping consolidates power; current economic policymakers passed over for inner circle posts

    • China reports surprisingly brisk GDP growth in the third quarter

  • 28 Oct 2022  

    ​BOFIT Weekly Review 43/2022

    • Weaker revenues and higher spending reign Russia’s federal and regional budgets

    • Russian export earnings start to decline, recovery in imports continues

    • Overall condition of Russia’s banking sector remains murky

  • 21 Oct 2022  

    ​BOFIT Weekly Review 42/2022

    • China’s 20th National Congress affirms major existing policy trends

    • China postpones routine releases of economic data

    • China attempts to contain its real estate sector crisis and support the economy through increased funding

    • United States tightens rules on semiconductor exports to China

  • 14 Oct 2022  

    ​BOFIT Weekly Review 41/2022

    • Latest BOFIT forecast sees Russian economy contracting by 4 % this year and imports falling by 25 %

    • Russia’s current account surplus contracted in the third quarter of this year

    • Weak developments expected for Russian government sector revenues and expenditures

    • IMF anticipates significant slowdown in global growth next year; Russia’s recession likely to be milder than earlier expected

  • 7 Oct 2022  

    ​BOFIT Weekly Review 40/2022

    • Forecasters lower their predictions for Chinese growth this year

    • Yuan loses ground against the dollar

    • European Chamber reports tougher Chinese business environment

  • 30 Sep 2022  

    ​BOFIT Weekly Review 39/2022

    • “Partial mobilisation” creates confusion, markets tumble in Russia

    • Russian economic trends remained stable in August

    • Russia plans for federal budget deficits from 2022 to 2025

    • Russian central bank further eases monetary policy

    • Government fixed investment soars in Russia as corporate fixed investment remains weak

  • 23 Sep 2022  

    ​BOFIT Weekly Review 38/2022

    • China posts relatively weak August growth figures; housing construction decline continues

    • Putin and Xi met in Samarkand as trade between their countries has strengthened

    • Finnish goods exports to China contracted in the second quarter

  • 16 Sep 2022  

    ​BOFIT Weekly Review 37/2022

    • Russia posts another large current account surplus in August

    • Russia’s federal budget revenues down in August

    • Russian GDP falls, but trends vary widely across individual sectors

    • Russian pipeline gas exports to EU effectively cease

  • 9 Sep 2022  

    ​BOFIT Weekly Review 36/2022

    • Covid hotspots strain China’s provincial economies

    • China posts large current account surplus in first half; capital outflow continues

    • United States and China reach initial agreement on reviewing financials of US-listed Chinese firms, but bilateral tensions persist

  • 2 Sep 2022  

    ​BOFIT Weekly Review 35/2022

    • Russian economic trends seem to have stabilised in July

    • Russia facing harsher economic outlook for the rest of this year

    • Employment in Russia has continued to rise

    • EU ban on imports of Russian coal goes into effect

    • Finnish goods trade with Russia falls by half

  • 26 Aug 2022  

    ​BOFIT Weekly Review 34/2022

    • China’s economy continued to sputter in July

    • China’s central bank lowers interest rates; inflation rate still below official target ceiling

    • Drought leads to hydropower production issues and restrictions on electricity use in China

    • China takes on struggles of small banks

  • 19 Aug 2022  

    ​BOFIT Weekly Review 33/2022

    • Russia’s federal budget sees exceptional drop in revenues in July; spending continues to rise

    • CBR considers ways to support fixed investment and reduce forex dependency

    • Russia seeks new oil export markets

    • Russia posts declines in gas production and gas exports

    • Ukrainian Black Sea grain shipments resume with UN-brokered agreement between Ukraine and Russia

  • 12 Aug 2022  

    ​BOFIT Weekly Review 32/2022

    • Relations between mainland China and Taiwan grow tense

    • Yuan-euro exchange rate hits levels not seen for years

    • China’s leadership omits mention of the numeric GDP growth target

    • India on verge of surpassing China as world’s most populous country

  • 5 Aug 2022  

    ​BOFIT Weekly Review 31/2022

    • Big differences across sectoral contractions in Russia

    • CBR lowers key rate further to 8 %

    • Banking sector conditions stabilise in Russia

  • 29 Jul 2022  

    ​BOFIT Weekly Review 30/2022

    • China posts weak second-quarter growth, likelihood of return to high growth for the rest of the year wanes

    • China relaxes restrictions but holds to its dynamic zero-COVID policy

    • Forecasters downgrade China’s 2022 GDP growth forecast, see high growth rates for India and predict a lower-than-expected contraction of the Russian economy

  • 22 Jul 2022  

    ​BOFIT Weekly Review 29/2022

    • Outlook for Russian businesses grows cloudier in June

    • Partial release of balance-of-payments data gives general picture of Russia’s import decline and large capital outflows

    • Russian inflation slowed slightly in June on reduced increases in prices of fruits and vegetables

    • Russian federal budget revenues continue to deteriorate

    • Russian GDP growth slowed in the first quarter of this year

  • 15 Jul 2022  

    ​BOFIT Weekly Review 28/2022

    • Slow growth for China’s household loan stock

    • China’s goods exports to Russia decline while bilateral trade deficit rises

    • India binges on Russian oil

  • 8 Jul 2022  

    ​BOFIT Weekly Review 27/2022

    • Russian economy continued to slide in May

    • Russian ruble has strengthened substantially

    • Russian government driven to technical insolvency

    • G7 countries move to reduce Russian export earnings

    • As the world’s largest wheat exporter, Russia plays a major role in food security of Africa and the Middle East

  • 1 Jul 2022  

    ​BOFIT Weekly Review 26/2022

    • Mainland China’s stock markets have been on a rise for the past two months

    • Domestic production struggles to keep pace with growth in consumption of grain crops in China

    • India tightens its monetary policy

  • 23 Jun 2022  

    ​BOFIT Weekly Review 25/2022

    • Russian central bank lowers key rate to 9.5 %

    • Russian government budget revenues weaken; high inflation erodes stimulus effects

    • Russian imports plunge; value of exports remains high

  • 17 Jun 2022  

    ​BOFIT Weekly Review 24/2022

    • Covid case numbers on the rise again, strict lockdown measures hit firms operating in China

    • China’s economic growth remained sluggish in May

    • Taiwan’s economy has weathered the covid pandemic quite well

  • 10 Jun 2022  

    ​BOFIT Weekly Review 23/2022

    • Russian economy began to contract in April

    • EU issues a new round of sanctions for Russia

    • Russian central bank further eases monetary policy

    • Pensions raised in Russia to keep up with inflation

    • Finnish-Russian trade contracts sharply

  • 3 Jun 2022  

    ​BOFIT Weekly Review 22/2022

    • China shifts focus from fighting covid to economic stimulus

    • Borrowing demand remains subdued despite PBoC efforts to boost bank lending

    • Finland’s imports from China continued to climb in the first quarter

  • 25 May 2022  

    ​BOFIT Weekly Review 21/2022

    • The ruble continues to appreciate

    • Russia’s economic downturn is felt in government budget revenues; military spending soars

    • Russian oil production volumes fell in April

    • Impacts of Ukraine invasion on Russia’s economy already apparent in March

  • 20 May 2022  

    ​BOFIT Weekly Review 20/2022

    • Chinese economy stumbled in April

    • Foreign investment by Chinese firms remained depressed last year

    • Hong Kong GDP shrank in the first quarter of this year

  • 13 May 2022  

    ​BOFIT Weekly Review 19/2022

    • Major forecasts for the Russian economy anticipate a large contraction this year along with sharp drops in exports and imports

    • CBR further lowers key rate

    • Russia legitimises parallel imports of many goods as imports collapse

  • 6 May 2022  

    ​BOFIT Weekly Review 18/2022

    • Latest BOFIT forecast sees modest Chinese economic growth this year

    • Yuan loses ground against the US dollar

    • China’s real estate sector continues to struggle

    • Growth in China’s foreign trade slowed in March; exports to Russia fell

  • 29 Apr 2022  

    ​BOFIT Weekly Review 17/2022

    • Trends weakened in many branches of the Russian economy in March

    • Timely CBR support measures avert banking sector panic

    • Russian federal budget revenues and expenditures rise; inflation undermines purchasing power

    • Russian military spending increased last year

  • 22 Apr 2022  

    ​BOFIT Weekly Review 16/2022

    • China’s economy sees strong start, weak finish, in the first quarter

    • Inflation in China remained subdued in March

    • PBoC slightly lowers bank reserve requirements and publishes list of economic support measures

    • China’s debt growth accelerated slightly in the first quarter

  • 14 Apr 2022  

    ​BOFIT Weekly Review 15/2022

    • Capital controls enable ruble recovery

    • Export earnings fattened Russia’s Q1 current account surplus; substantial capital outflows

    • March PMI indicators suggest Russian economy already contracting

    • No growth this year for Russia’s foreign reserves or the National Welfare Fund

    • The EU and US put more economic sanctions on Russia

  • 8 Apr 2022  

    ​BOFIT Weekly Review 14/2022

    • Shanghai’s covid lockdowns likely to affect international supply chains

    • China stays with its diversified energy import strategy; natural gas consumption and imports on the rise

    • Growth of China’s CIPS payment system remained brisk last year

  • 1 Apr 2022  

    ​BOFIT Weekly Review 13/2022

    • Latest BOFIT forecast for Russia sees GDP contracting by 10 % this year with imports down by half

    • Russian markets supported by administrative measures

    • Prices continue to soar in Russia

    • CBR keeps its key rate at a record high 20 % level

  • 25 Mar 2022  

    ​BOFIT Weekly Review 12/2022

    • While China's industrial output growth accelerated in the first two months of this year, construction activity and apartment sales declined

    • China approves fiscal stimulus policies for 2022

    • American firms operating in China more pessimistic about short-term business outlook

  • 18 Mar 2022  

    ​BOFIT Weekly Review 11/2022

    • Russia’s invasion also causing economic damage to Ukraine

    • Russia imposes currency controls to deal with the ruble’s collapse

    • Russia on shaky ground in its ability to service foreign debt

    • Western countries impose more sanctions on Russia

    • Russia rolls out various measures in response to Western sanctions

    • No large increases in Russian government sector spending planned at the moment; budget revenues on the rise this year

  • 11 Mar 2022  

    ​BOFIT Weekly Review 10/2022

    • Russia sanctions affecting China as well

    • This year’s economic goals rolled out at National People’s Congress

    • Covid case rates up in mainland China and Hong Kong

    • Finland’s imports from China increased during the pandemic

  • 4 Mar 2022  

    ​BOFIT Weekly Review 09/2022

    • Ruble and stock markets tumble on Russia’s February 24 invasion of Ukraine

    • Russia’s unprovoked attack on Ukraine draws massive economic sanctions from the West

    • Russia was Finland’s sixth-largest export market in 2021

  • 25 Feb 2022  

    ​BOFIT Weekly Review 08/2022

    • China posts record trade surplus in 2021

    • Relaxation of capital controls and increased foreign trade help boost international use of the yuan

    • China’s imports from Ukraine quadrupled over the past four years

  • 18 Feb 2022  

    ​BOFIT Weekly Review 07/2022

    • Russia posted good economic growth in 4Q21; manufacturing particularly strong

    • Central Bank of Russia tightens its monetary policy

    • Strong growth in bank lending fuels Russian domestic demand

    • Russia and China strive to increase their bilateral trade

  • 11 Feb 2022  

    ​BOFIT Weekly Review 06/2022

    • IMF calls on China to implement far-reaching reforms to achieve sustainable growth

    • This year’s Lunar New Year travel numbers remained at low levels

    • China’s public sector deficit shrank last year

    • Hong Kong’s economy returned to positive growth last year

  • 4 Feb 2022  

    ​BOFIT Weekly Review 05/2022

    • Ruble continues to weaken despite higher oil prices

    • Death rate in Russia hit historical high last year; covid infections soar

    • Russia’s National Welfare Fund continues to grow

  • 28 Jan 2022  

    ​BOFIT Weekly Review 04/2022

    • China’s economic growth slowed at the end of 2021

    • Forecasters lower China’s GDP growth forecasts for 2022 and 2023

    • China’s central bank cuts interest rates to deal with slowdown in lending and economic growth

    • China’s population growth fell close to zero last year

  • 21 Jan 2022  

    ​BOFIT Weekly Review 03/2022

    • Russian markets fall as geopolitical tensions rise

    • Russian export earnings and imports recovered quickly in 2021, large private capital outflows

    • Russia’s foreign currency and gold reserves hit record high

    • President Tokayev consolidates power in Kazakhstan

  • 14 Jan 2022  

    ​BOFIT Weekly Review 02/2022

    • Despite intense suppression strategy, covid infections in China on the rise

    • China tries to boost international investor interest in green bonds

    • Bailing out bad-debt-manager Huarong is a costly proposition

  • 7 Jan 2022  

    ​BOFIT Weekly Review 01/2022

    • Russian economic growth expected to slow this year

    • Employment in Russia returns to pre-recession levels as unemployment drops to historical lows

    • The 2021 harvest was smaller than in previous years

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