NEWSWATCH: “Russia’s economy grows at $40 per barrel oil; Russia’s Central Bank last week said appetite was low for an increase in lending rates” – UPI/Daniel J. Graeber

Elvira Nabiullina file photo

The Russian economy will be on the positive side of growth even if the price of crude oil falls to $40 per barrel … [Central Bank Gov. Elvira Nabiullina] said. … The number of economic sectors expected to expand this year is not much greater than those in contraction, but losers are outnumbered. Much … depends on the price of […]

» Read more

Russian Government Named Biggest Threat to Competitive Economy

(Moscow Times – themoscowtimes.com – February 8, 2017) Russia’s Federal Antimonopoly Service (FAS) has named the state the biggest threat to healthy competition in the Russian economy. The agency is now asking President Vladimir Putin to sign a presidential decree reducing the government’s role in key economic sectors over the next two years, the Vedomosti newspaper reported Wednesday. The decree […]

» Read more

Russia Nears End of Recession as GDP Shrinks Less Than Forecast

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – February 1, 2017) Russia edged closer to exiting its longest recession in almost two decades as mining, manufacturing and agriculture added to stabilizing oil prices to steady the economy of the world’s biggest energy exporter. Gross domestic product contracted 0.2 percent last year after an upwardly revised decline of 2.8 percent in 2015, […]

» Read more

NEWSWATCH: “Russian retail slump clouds forecasts for economic recovery” – Reuters

File Photo of Older Russian Woman Shopping in Grocery Store

Russian retail sales fell more than expected in December, official data showed on Wednesday, challenging the government’s optimistic predictions for an imminent economic recovery. Retail sales are the largest contributor to Russian gross domestic product and have suffered steep falls since the economy entered a deep slump in 2014, when oil prices collapsed and the West imposed sanctions over the […]

» Read more

World Bank Sees 1.5 Percent GDP Growth In Russia For 2017

World Bank Building

(RFE/RL – rferl.org – January 11, 2017) The World Bank is predicting 1.5 percent growth in Russia’s gross domestic product in 2017 and sees a gain of 1.7 percent in 2018 and 1.8 percent the following year, helped by increases in commodity prices. Russia’s projected GDP growth follows an estimated 0.6 percent contraction in 2016 and a 3.7 percent contraction […]

» Read more

IMF: Russian Economy Will Contract 0.6 Percent in 2016, Recover In 2017

Diverse Paper Currency, Coins, Line Graph

(RFE/RL – rferl.org – November 30, 2016) The International Monetary Fund said the Russian economy should continue to contract this year, with gross domestic product dropping 0.6 percent, but says it will begin recovering in 2017. The projections from the Washington-based IMF, issued November 29 after a team visited Moscow earlier this month, were roughly in line with other Russian […]

» Read more

How the Russian Economy Hit Rock Bottom

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Alexandra Prokopenko – November 17, 2016) The decline of the Russian economy has slowed, according to the State Statistics Service. The Economic Development Ministry has stated that gross domestic product rose by just 0.1 percent from the second to the third quarter of 2016. However, it is still too early to talk about a recovery […]

» Read more

NEWSWATCH: “World Bank Improves Russia Economic Outlook, Sees 1.5 Percent GDP Growth in 2017” – Reuters

World Bank Building

… the World Bank said …. Russian gross domestic product will contract by 0.6 percent … oil prices are projected to recover to an average of $55 per barrel in 2017 [and] the Russian economy is expected to bottom out in the second half of this year. The World Bank sees it growing by 1.5 percent in 2017 and 1.7 […]

» Read more

NEWSWATCH: “Russia’s renewed might rests on weak economic foundations. Putin bravado does not extend to modernisation of the economy” – Financial Times/Neil Buckley

Diverse Paper Currency, Coins, Line Graph

… the gap between the image … Putin portrayed … and the reality was exposed by a sobering assessment of Russia’s economy by another senior official … further emphasised by a draft budget … envisaging a 27 per cent cut in defence spending …. the official … made it clear how Russia’s ambitions clash with its capabilities. … western sanctions […]

» Read more

Econ Ministry restores original GDP forecasts under baseline scenario – newspaper

Diverse Paper Currency, Coins, Line Graph

MOSCOW. Oct 18 (Interfax) – The Russian Economic Development Ministry has restored its original baseline GDP growth forecasts: 0.6% in 2017, 1.7% in 2018 and 2.1% in 2019, the newspaper Vedomosti reported, citing the final version of the forecast forwarded to the Finance Ministry, which will subsequently be submitted to the government together with the budget. The baseline scenario, which […]

» Read more

Russian economy unlikely to grow more than 1.5% annually in medium term – MinFin

Diverse Paper Currency, Coins, Line Graph

MOSCOW. Oct 7 (Interfax) – Internal structural problems and external conditions will limit Russia’s economic growth to 1.5% annually in the medium term, according to the Finance Ministry’s draft fiscal policy guidelines, posted on the State Duma Budget and Tax Committee’s website. The guidelines are based on the baseline scenario of the Economic Development Ministry’s socioeconomic development forecast for 2017 […]

» Read more

Recession ending, growth under way for Russian economy – Kudrin

Alexei Kudrin file photo

MOSCOW. Oct 4 (Interfax) – The recession in the Russian economy is ending with growth under way, but that growth will be gradual at first, Alexei Kudrin, head of the Center for Strategic Research, said. “This year we’ll still have decline of 0.6%, statistically, but next year we’ll have approximately 0.5-0.8% growth. I repeat, that is statistically not as much […]

» Read more

Russia’s economic growth depends on successful transformations – Medvedev

Cash, Calculator, Pen

MOSCOW. Oct 2 (Interfax) – Russia’s economic growth will depend on the success of structural transformations in the economy, which cannot be accomplished rapidly, Prime Minister Dmitry Medvedev said. The sanctions and the external pressure on Russia “are bad, but these are not the main [factors],” he said in an interview with the Voskresnoye Vremya program aired by Channel One. […]

» Read more

NEWSWATCH: “Russian PM expects modest economic growth in early 2017” – Reuters

Diverse Paper Currency, Coins, Line Graph

… Medvedev expects modest growth in the economy early 2017 …. The Russian economy has struggled following the introduction of international sanctions against Moscow in 2014 over its role in the Ukraine crisis. … According to a Reuters poll, Russian inflation will fall to just over 6 percent by the end of the year as monetary policy is kept tight, […]

» Read more

80% of Russians Feel Country’s Economic Decline

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – September 26, 2016) Some 82 percent of Russians can feel the effects of the country’s economic decline, the Kommersant newspaper reported Monday, citing a report by independent pollster the Levada Center. The number has risen from the 61 percent who felt the pinch back in the fall of 2014. Almost one in five respondents (17 […]

» Read more

NEWSWATCH: “Russia’s Post-Election Economy: Down, But Not Out. Parliamentary elections are rapidly approaching, but this time politicians aren’t making any pie-in-the-sky promises.” – Moscow Times/Boris Grozovsky

Diverse Paper Currency, Coins, Line Graph

By any measure, the Russian economy is deep in a classic recession: GDP has dropped for the sixth consecutive quarter. If Russia had political competition, these elections would pose a challenge for both the ruling party and the opposition. But without real competition, politicians are under little pressure to lift the economy out of the current crisis. … * * […]

» Read more

Interfax: Russian economy in for slow, unsteady recovery – Central Bank

Central Bank of Russia file photo

MOSCOW. Sept 1 (Interfax) – The Russian economy an expect slow, unsteady recovery in the next few quarters, the Central Bank’s Research and Forecasting Department said in its latest Talking Trends bulletin. The Federal State Statistics Service (Rosstat) said in an initial estimate that GDP had fallen 0.6% year-on-year in Q2 2016. The Central Bank’s analysts said Rosstat’s data imply […]

» Read more

Experts Predict ‘Lost Decade’ For Russia’s Stagnating Economy

Diverse Paper Currency, Coins, Line Graph

A lack of dialogue on economic incentives could threaten future growth (Moscow Times – themoscowtimes.com – Alexandra Prokopenko, Margarita Papchenkova – August 19, 2016) #Russia’s #economy needs powerful external stimuli or fundamental domestic reform in order to avoid further stagnation, a report from the Centre of Development at the Higher School of Economics (HSE) has claimed. The country’s gross domestic […]

» Read more

Getting Each Other Wrong

Map of Commonwealth of Independent States, European Portion

(Kennan Institute – wilsoncenter.org/program/kennan-institute – Maxim Trudolyubov, Senior Fellow, Editor-at-Large, Vedomosti Daily – June 14, 2016) Politicians have to walk the walk in order to be credible. This is even more true in today’s world, given the rise of populist demagoguery and the sorry state of trust between the most important players. The dialogue taking place between Russia, the U.S., […]

» Read more

Putin’s Core Support Begins to Waver; Working-class Russians hurt by recession look for someone to blame-in an election year

Kremlin and River

(Bloomberg – bloomberg.com – Leonid Ragozin – June 9, 2016) Russia embarks on an almost two-year-long election season this summer that ends with a presidential contest in 2018. But unlike previous years, the country’s faltering economy has taken its toll on lower-income voters who blame the Duma and the cabinet for their plight. Five years ago, allegations of vote rigging […]

» Read more

Three ways out of Russia’s crisis: The plans on Putin’s table …. #RUSSIA

Diverse Paper Currency, Coins, Line Graph

Russian economists have proposed three programs to help the country get out of the crisis. They were presented to President Vladimir Putin at the session of the Economy Council on May 25. RBTH tries to understand the essence of each plan and how such proposals were realized in the past. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH […]

» Read more

Was Russia’s First Bond Sale in 3 Years a Success?

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Peter Hobson – May 26, 2016) [Chart here themoscowtimes.com/business/article/was-russias-first-bond-sale-in-3-years-a-success/570254.html] Bidding opened suddenly on the morning of May 23. After a three-year absence from international markets, and with very little warning, Russia announced it wished to borrow billions of dollars. The Finance Ministry sought to help finance a yawning budget deficit caused by the low price […]

» Read more

NEWSWATCH: “Russian economic slump shows further signs of easing” – Reuters

Cash, Calculator, Pen

Russia’s GDP is still estimated to fall anywhere between 0.2 percent and 1.5 percent in 2016, depending on estimates, but … recent economic activity … showed that the slump continued to ease and fourth-quarter GDP might be positive. Retail sales, a barometer of domestic consumer demand, were down 4.8 percent, but the fall was less than the 5.8 percent seen […]

» Read more

Economy Minister Says Russia Out of Recession More Than Six Months

Alexei Ulyukayev file photo

(Moscow Times – themoscowtimes.com – May 20, 2016) The Russian economy has been out of recession for more than six months, Economic Development Minister Alexei Ulyukayev said during a briefing at the Russia-ASEAN summit on Friday, the TASS news agency reported. Russia’s GDP may perform better than the official forecast, which predicted a decline of 0.2 percent, Ulyukayev said, attributing […]

» Read more

Russia’s Economy Shows Signs Of Stabilization In First Quarter

Diverse Paper Currency, Coins, Line Graph

(RFE/RL – rferl.org – May 17, 2016) Russia’s economy contracted by less than expected in the first quarter of 2016 in a sign it may be stabilizing. The Russian state statistics service said on May 16 that the economy declined by 1.2 percent from a year earlier, after falling by 3.8 percent in the final quarter of 2015. Russia’s economy […]

» Read more

Russians Face Sustained Declines in Standard of Living for the Foreseeable Future, Economist Says

Diverse Paper Currency, Coins, Line Graph

(Paul Goble – Window on Eurasia – Staunton, May 14, 2016) Dmitry Prokofyev, a St. Petersburg economist, says that barring an unexpected shock, Russia faces declines of its GDP of 1.0 – 1.5 percent a year for the foreseeable future, a trend that will exacerbate differences between life in the megalopolises which may improve somewhat and life elsewhere which will […]

» Read more

Russian Economy Shrank Less Than Forecast as Growth Seen Closer

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – May 16, 2016) Russia’s economy contracted less than forecast in the first quarter, leaving it closer to growth than at any time since it slid into recession last year. Gross domestic product fell 1.2 percent from a year earlier after a decline of 3.8 percent in the previous three months, the Federal Statistics […]

» Read more

Russia’s Economy Is Tanking, So Why Is Putin Smiling?

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Evgenia Pismennaya, Anna Andrianova – February 29, 2016) With Russia mired in the longest recession in two decades, there hasn’t been a lot of good economic news lately. But there’s one indicator that’s looking up, and it’s the one that matters most to Vladimir Putin: His hard-currency reserves. The central bank held $379 billion in foreign […]

» Read more

Economic Minister says moderate economic growth possible in Russia in 2016

Alexei Ulyukayev file photo

(Interfax – February 2, 2016) Economic Development Minister Alexei Ulyukayev does not rule out the possibility of the Russian economy shifting to moderate growth in 2016. “A shift is already possible this year, perhaps, to moderate, recovery growth in the economy for the time being. We should be prepared for this,” Ulyukayev said at a ministry meeting on Feb. 2. […]

» Read more

Kudrin: Sanctions against Russia could start to ease late 2016-early 2017

Alexei Kudrin file photo

(Interfax – January 22, 2016) Relations between Russia and the West are normalizing and sanctions will be lifted, Alexei Kudrin, a former Russian finance minister, said. “I’m sure the sanctions will start to soften at the end of this year or start of next year. Nobody in Russia wants to keep up confrontation. I think the Minsk accords will be […]

» Read more

Russia identifies economic backwardness as national security threat

Cash, Calculator, Pen

(Interfax – January 19, 2016) Russia’s new national security strategy identifies the key threats to the country. The main threats to national security in the economic sphere are the low competitiveness of the Russian economy and its continuing dependence on raw material exports, Sergey Vakhrukov, aide to the secretary of the Russian Security Council, told journalists on 19 January, as […]

» Read more

TRANSCRIPT: [Putin] at National Entrepreneurs’ Forum Small Business – National Idea?

Diverse Paper Currency, Coins, Line Graph

(Kremlin.ru – January 20, 2016) Vladimir Putin took part in the plenary session of the National Entrepreneurs’ Forum Small Business – National Idea? The forum examined issues such as support for small and medium-sized enterprises and measures to encourage business activity. The forum, organised by the OPORA Russia national public association of small and medium-sized enterprises, is taking place in […]

» Read more

Putin urges government to be ready for any economic scenario

Diverse Paper Currency, Coins, Line Graph

(Interfax – January 13, 2016) Russian President Vladimir Putin has told the government to closely monitor changes in the economic situation and be ready for any turn. “We should be ready for any scenario,” he said at a meeting with Cabinet members. The president drew attention to how the situation changes on the markets. “I know that the government has […]

» Read more

What awaits Russia’s economy in 2016 – collapse or recovery?

Diverse Paper Currency, Coins, Line Graph

Analysts have reacted to the latest collapse of oil prices with varying forecasts. Some believe oil prices are on their way down to the critical level of $35, which would keep the Russian economy in recession. Others, however, including Western analysts, are of the opinion that 2016 may see the first shoots of recovery. (Russia Beyond the Headlines – rbth.ru […]

» Read more

Russia Sees Biggest Decline in Wages, Retail Sales Since 1999

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Anna Andrianova – November 19, 2015) Russian wages and retail sales declined by the most since 1999, a sign consumer demand will remain a weak link in the economy’s efforts to break out of its first recession in six years. Real wages fell 10.9 percent in October from a year earlier, a deeper contraction than the […]

» Read more

Minister says Russian economy to resume growth in second quarter of 2016

Alexei Ulyukayev file photo

(Interfax – November 11, 2015) The Economic Development Ministry expects that Russia’s GDP will fall less fast in the fourth quarter than it did in the third, Economic Development Minister Aleksey Ulyukayev announced at a meeting with entrepreneurs from Baden Wuerttemberg in Moscow on 11 November. RIA Novosti news agency quoted him as saying that the economy was expected to […]

» Read more

Interfax: Russian authorities know how to take inflation under control, to reach plan by yearend – Shuvalov

Igor Shuvalov file photo

MOSCOW. Oct 21 (Interfax) – The Russian authorities know how to take inflation under control; by the end of 2015 it will reach planned levels, Russian First Deputy Prime Minister Igor Shuvalov said at the State Duma on Wednesday. “I can say that in terms of growth rates and inflation – which concerned us most of all within the macro […]

» Read more

Standard & Poor’s Lowers Russian Growth Forecast

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Peter Hobson – October 16, 2015) Standard & Poor’s has cut its growth forecast for Russia, predicting that lower and more volatile oil prices will make it harder for the country to emerge from recession. The ratings agency said Thursday that the Russian economy would contract by 3.6 percent this year and grow by only […]

» Read more

Bank of America Seeing Life Signs in Russia’s Foundering Economy

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Elena Popina – September 27, 2015) [Chart here bloomberg.com/news/articles/2015-09-27/bank-of-america-seeing-life-signs-in-russia-s-foundering-economy] Bank of America Corp. is starting to see faint signs of an economic recovery in Russia. The magnitude of a slowdown in capital investment is easing, while corporate profits have been increasing, a combination that Vladimir Osakovskiy, the bank’s chief economist in Moscow, said could mark a […]

» Read more

Sberbank forecasts Russian GDP to contract 0.5% in 2016 – Gref

Diverse Paper Currency, Coins, Line Graph

MOSCOW. Sept 3 (Interfax) – Sberbank of Russia (MOEX: SBER) expects Russian GDP to contract 0.5% in 2016, bank President and CEO German Gref said on Rossiya 24 television. “Our most realistic forecast assumes economic growth will be negative 0.5%. We do not for now see any sources of growth that would produce serious recovery next year,” Gref said. The […]

» Read more

Sanctions not responsible for Russia’s falling GDP, say experts

Diverse Paper Currency, Coins, Line Graph

According to a new report by Central Bank analysts, sanctions against Russia have not played a significant role in the decline of Russia’s economy, with experts agreeing that low oil prices are principally to blame. (Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – August 24, 2015) The introduction of Western sanctions against Russia is responsible for only […]

» Read more

Russia’s recovery faces a reality check

Diverse Paper Currency, Coins, Line Graph

(Business New Europe – bne.eu – Chris Weafer of Macro-Advisory – June 22, 2015) After a relatively positive performance for Russia’s economy in the first quarter, the second quarter has brought more of a reality check, with sharply lower numbers across many categories reported in April and May. The preliminary GDP estimate for April shows a contraction of 4.2% year […]

» Read more

Russian Economic Path Is in Eye of Beholder for Putin Allies

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas, Paul Abelsky – June 19, 2015) The Russian economy is sailing along — in the eye of the storm or toward calmer waters, depending on who’s looking. Gauging the health of the economy during the first two days of the St. Petersburg International Economic Forum were President Vladimir Putin’s confidantes, past and present. Things […]

» Read more
1 2 3 4