NEWSWATCH: “Half of Russians see hardest crisis times still ahead” –  bne Intellinews

Diverse Paper Currency, Coins, Line Graph

“… Almost half of Russians (45%) believe the ‘worst is yet to come’ for them as the crisis unwinds, according to the state owned pollster, the Russian Public Opinion Research Centre (VTsIOM).   Russia’s economy is recovering from its two-year recession and GDP growth is gathering momentum, putting in 3.1% growth year-on-year in May. Industrial production is recovering too, up […]

» Read more

Russia Ranked Among Worst Countries to Be a Pensioner

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – July 20, 2017) Russia has staked its claim as one of the five worst countries in the world for pensioners, according to a new report. The Natixis Global Retirement Index ranks Russia 40th out of 43 countries worldwide – below Turkey, China, and Mexico. Only Brazil, Greece, and India have an even lower score. Russia […]

» Read more

VIDEO NEWSWATCH: “Is Vladimir Putin’s big collapse coming soon? Author Richard Lourie talks about how Putin’s failure to wean Russia off oil will destroy the nation’s economy” – Salon/ Richard Lourie / Carrie Sheffield

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

(Salon – July 18, 2017 – from: salon.com/2017/07/18/watch-is-vladimir-putins-big-collapse-coming-soon/) “Salon Talks sat down with Richard Lourie to discuss his book, “Putin: His Downfall and Russia’s Coming Crash.” Lourie argues that Vladimir Putin’s Russia will collapse, just as Imperial Russia did in 1917 and the Soviet Union did in 1991. He cites the Russian president’s failure to move the nation’s economy from […]

» Read more

NEWSLINK: “Rising prices and falling savings are Russians’ biggest fears” – bne Intellinews

Cash, Calculator, Pen

“Rising prices and falling savings are currently Russians’ biggest fears, according to the state owned pollster, the Russian Public Opinion Research Centre (VTsIOM). … Mounting food prices and declining savings topped the ranking of Russians’ fears in the middle of this year. However, the fears of a military conflict with the west has also been rising steadily, the poll found, reports […]

» Read more

Russia Caught Between Economic Decline and Potentially Explosive Demographic Change

Russian Migrant Workers file photo

(Paul Goble – Window on Eurasia – Staunton, July 5, 2017) Russia’s economic development ministry says that the country’s GDP growth will be approximately half of one percent lower each year because of projected declines in the number of workers in Russia in the coming decades, a decline that the ministry says must be fought by increasing immigration. But any […]

» Read more

Kremlin’s Claims about Economic Growth Rest on Three Weak Reeds, Russian Experts Say

Diverse Paper Currency, Coins, Line Graph

(Paul Goble – Window on Eurasia – Staunton, June 29, 2017) Independent Russian economists say that claims by Moscow officials concerning the supposed growth in Russia’s GDP do not correspond to reality, Russian experts say. Instead, they reflect some statistical sleight of hand, the low base from which any change is calculated, and even the anomalously cold weather of recent […]

» Read more

Russia Sticks to Conservative $40 Oil Forecast for 2018 Budget

Oil Well file photo

(Bloomberg – bloomberg.com – Olga Tanas – June 29, 2017) The Russian government is sticking to its conservative assumptions for oil prices as it drafts the budget for the next three years, relying mainly on domestic borrowing to finance the deficit in order to preserve its rainy-day funds. Oil prices are running above the government’s $40-a-barrel forecast, but growing supply […]

» Read more

Behind Brave Face on Sanctions, Russia Is Already Adjusting

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – June 23, 2017) They are only discussed. They may not even be implemented. But the new sanctions under consideration in the U.S. Congress have already become a factor the Bank of Russia can’t ignore. While Governor Elvira Nabiullina dismissed sanctions as having little impact on Russia, the looming threat of wider measures was […]

» Read more

Unemployment ranges from 1.5% in Moscow to 27.2% in Ingushetia – Rosstat

Russian Migrant Workers file photo

MOSCOW. June 23 (Interfax) – Russian unemployment in May continued to vary widely by federal district, when the highest rate 3.4 times greater than the lowest, and by region, where the highest was 18 times greater than the lowest, Rosstat reported. Unemployment declined to 5.2% in May from 5.3% in April, 5.4% in March and 5.6% in February and January. […]

» Read more

Russians Aren’t Blowing Bigger Wages in Boon to Central Bank

Cash, Calculator, Pen

(Bloomberg – bloomberg.com – Olga Tanas – June 21, 2017) There’s less than meets the eye to Russia’s consumer recovery. While real wages grew at the same pace of 3.7 percent in April and May, the most in over three years, retail sales only crawled just above zero after a record 27 months of contraction. The Bank of Russia expects […]

» Read more

Russia Just Past Crisis, But Already Up Against Growth Limit

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – June 5 2017) The debate two years ago at President Vladimir Putin’s annual investment showcase in St. Petersburg centered on the direction Russia would take as it moved past the turbulence of oil’s collapse. This time the consensus is that the economy is running aground. Halfway through what’s likely to be the first […]

» Read more

RUSSIALINK: “Igor Shuvalov: Future of Russia Lies in Consolidation and Progress” – Valdai/ Igor Shuvalov

Igor Shuvalov file photo

“The wealth of Russia is based not only on securing the needs of the domestic market, but primarily on the openness, Igor Shuvalov told journalists at the St. Petersburg International Economic Forum. …”

» Read more

NEWSLINK: “How the Trump administration’s secret efforts to ease Russia sanctions fell short” – Yahoo News/ Michael Isikoff

State Department Building and U.S. Flag

“In the early weeks of the Trump administration, former Obama administration officials and State Department staffers fought an intense, behind-the-scenes battle to head off efforts by incoming officials to normalize relations with Russia, according to multiple sources familiar with the events. …”

» Read more

NEWSWATCH: “Beyond the Recession, More Problems Await Russia” – Strafor

Diverse Paper Currency, Coins, Line Graph

“As the Russian economy slowly pulls out of recession, low oil prices will keep it stagnant for years to come. Nonetheless, the recovery, and the return of foreign investment, will alleviate some of the Kremlin’s concerns about the economic sanctions against it.  The Russian government, meanwhile, will grow increasingly worried about the people’s economic hardships as gubernatorial and presidential elections approach. […]

» Read more

VIDEO NEWSWATCH: “U.S. shale, trade and sanctions worry Russian Finance minister as economy gets back on track” – CNBC/ Geoff Cutmore, Alexandra Gibbs

Anton Siluanov file photo

[Scroll down for embedded video] “… Following last week’s decision by oil producers to extend output cuts by nine months to March 2018, Siluanov told CNBC that OPEC’s decisions would give opportunity [sic] for prices to stay at present levels, but that both producers and the ministry had to be on alert for any market changes. …” ‘On the one […]

» Read more

A New Threat to the Kremlin: Russians’ Incomes Not Keeping Pace with Their Expectations

Diverse Paper Currency, Coins, Line Graph

(Paul Goble – Window on Eurasia – Staunton, May 25, 2017) In every federal district except the Far East, Russians say they need more money for “a normal life” than their current incomes, a situation that reflects stagnating wages and salaries and rising prices and one, the editors of Nezavisimaya Gazeta say, that represents an increasingly serious political threat to […]

» Read more

NEWSWATCH: “Russia Rallies: 1.3% GDP Growth, $55 Oil, World Bank Says; The Russian ruble is strengthening today on solid economic growth targets from the World Bank” – Barrons/ Dimitra DeFotis

World Bank Building

“Russia’s economy can expand at a 1.3% pace in 2017 and by 1.4% in 2018 and 2019, the World Bank said …. The ruble is strengthening … up 0.7% against the U.S. dollar, and Russian equities are rallying in Moscow. The VanEck Vectors Russia exchange-traded fund (RSX) is higher by 0.5% … as are the U.S.-traded shares of Sberbank Rossia (SBRCY). Moody’s […]

» Read more

IMF Sees Russian Economy Moving Out Of Recession, Inflation Slowing

Diverse Paper Currency, Coins, Line Graph

(©2017 RFE/RL, Inc. Article also appeared at rferl.org/a/russia-imf-ecomomy-recession/28498056.html – May 19, 2017) The International Monetary Fund said Russia’s economy will rebound this year after a two-year recession and inflation should slow to the central bank’s target amid diminished short-term risks from volatile oil prices and financial markets. Russia’s economy should expand 1.4 percent this year, the Washington-based IMF said on May […]

» Read more

NEWSWATCH: “Russia’s economy is recovering well” – CNN

Diverse Paper Currency, Coins, Line Graph

“[Russia] is recovering nicely from a recession and should see economic growth of 1.4% this year, according to [the IMF] … Russia is heavily dependent on oil exports and was hit hard when crude prices started to crash in 2014. Economic sanctions imposed by Western governments as punishment for Russia taking control of Ukraine’s Crimea region dealt the economy another blow. […]

» Read more

Interfax: EBRD financials “masking” negative trends, creating risk of rating downgrade, recapitalization – Oreshkin

Diverse Paper Currency, Coins, Line Graph

NICOSIA. May 10 (Interfax) – The financials of the European Bank for Reconstruction and Development (EBRD), while formally showing positive figures, are “masking” a number of negative trends and management assumptions, and continuing the current approach to the EBRD’s activities could lead to a downgrade of its ratings and the need for recapitalization, Russian Economic Development Minister Maxim Oreshkin said […]

» Read more

Half of Russians Consider Themselves To Be Poor, Study Finds

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – May 4, 2017) Half of Russians believe that they are poor – even though under 15 percent officially qualify as impoverished, a new study has concluded. Researchers at Russia’s Higher School of Economics found that 50.4 percent of Russians think that they are living in poverty. That number is three times higher than the actual […]

» Read more

Russians Remain Too Atomized and Lacking in Empathy to Make a Revolution, Kirillova Says

File Photo of Revolutionaries Marching in Moscow in 1917, adapted from image at state.gov

(Paul Goble – Window on Eurasia – Staunton, May 2, 2017) Many nations facing the difficulties #Russians now are would #revolutionary change [sic], but Russians are unlikely to do so, Kseniya Kirillova says, because they remain far too atomized and far too lacking in empathy to look beyond their immediate personal problems and identify with the problems of others. The […]

» Read more

NEWSLINK: “Russia and the “Resource Curse”: When the Kremlin’s Policy is Counterproductive for the Economy” – Carnegie Moscow Center/Forbes.ru/ ANDREY MOVCHAN, PAVEL KOSHKIN)

Oil Well file photo

“How can Russia overcome the “resource curse”? What countries should be an example for Moscow? What consequences can the Russian flawed economic policy lead to? Why could the authorities’ attempts to save their power by any means be dangerous for economic growth? Andrey Movchan, the director of the Economic Policy Pogram at the Carnegie Moscow Center, sheds light on these […]

» Read more

NEWSLINK: “Russia and the “Resource Curse”: When the Kremlin’s Policy is Counterproductive for the Economy” – Carnegie Moscow Center/ Forbes.ru/ ANDREY MOVCHAN, PAVEL KOSHKIN)

Oil Well file photo

“How can Russia overcome the ‘resource curse’? What countries should be an example for Moscow? What consequences can the Russian flawed economic policy lead to? Why could the authorities’ attempts to save their power by any means be dangerous for economic growth? Andrey Movchan, the director of the Economic Policy Pogram at the Carnegie Moscow Center, sheds light on these […]

» Read more

Kudrin sees sanctions as primarily negative for Russian economy

Alexei Kudrin file photo

KRASNOYARSK. April 21 (Interfax) – Sanctions are having a negative impact on the Russian economy, the chairman of the Center for Strategic Research (CSR), former Finance Minister Alexei Kudrin said. “We are sooner losing position on the global market. The problem is not only related to the drop in oil prices and sanctions. Sanctions are in general very sensitive and […]

» Read more

In Annual Report, Medvedev Says Russian Economy Avoided Catastrophe

Dmitri Medvedev file photo

(RFE/RL – rferl.org – April 19, 2017) Russian Prime Minister Dmitry Medvedev has promised not to raise taxes in 2017 and vowed to consider indexing retirement payments for working pensioners, delivering a moderately upbeat annual report on the troubled economy. Addressing the lower house of parliament on April 19, Medvedev said the Russian economy had avoided “catastrophe” despite low world […]

» Read more

Government forecast for annual GDP growth of 1.5% in 2018-2020 does not meet president’s goal – Belousov

Diverse Paper Currency, Coins, Line Graph

MOSCOW. April 17 (Interfax) – The government’s forecast for Russian GDP growth in 2018-2020 of 1.5% a year under the baseline scenario does not meet the goal set by the president of achieving growth higher than the global average in 2019-2020, presidential aide Alexander Belousov told journalists. The government forecast for 2% GDP growth in 2017 is “the maximum possible […]

» Read more

TRANSCRIPT: [Putin at] Working meeting with Prime Minister Dmitry Medvedev

File Photo of Dmitry Medvedev and Vladimir Putin with Heads Bowed Over Microphone

Mr Medvedev briefed Vladimir Putin on the key points of the report on the Government’s work in 2016, which will be presented to the State Duma on April 19. President of Russia Vladimir Putin: Mr Medvedev, on April 19 you will present to the State Duma the Government’s report on its work last year. What will you be presenting? What […]

» Read more

RUSSIALINK RBTH: “Russia’s economy needs a recipe for growth; The country’s economy has left the recession, but growth rates are still low. Will Russia be able to return to the high pre-crisis indicators?”

Diverse Paper Currency, Coins, Line Graph

(Russia Beyond the Headlines – rbth.ru – SERGEI ALEXASHENKO, SPECIAL TO RBTH – April 13, 2017) The author is a senior fellow at The Brookings Institution (Washington). In 1993-1998 he was deputy finance minister and deputy chairman of the Russian Central Bank. The Russian economy has hauled itself out of the recession – Rosstat, Russia’s statistics agency, the Economy Ministry, […]

» Read more

Fixing Russia’s Growth for Economists Takes One Ruble at a Time

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas, Andre Tartar – April 9, 2017) The ruble’s “serious weakening,” as forecast by Russia’s Economy Ministry, may be seriously good for growth. While the authorities in Russia have wavered this year over the benefits and disadvantages to the economy of a strong exchange rate, analysts are coming down on the side of depreciation. A […]

» Read more

Russian Economy Crawled to Growth With Recession in Rearview

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – March 31, 2017) Russia’s economy returned to growth at the end of 2016, turning the page on seven consecutive quarters of contraction that laid waste to the middle class after oil prices crashed. Gross domestic product gained 0.3 percent from a year earlier in the fourth quarter after a decline of 0.4 percent […]

» Read more

NEWSLINK: “PUTIN’S ECONOMY IS SO BAD, MANY RUSSIANS CAN’T AFFORD NEW SHOES” – Newsweek

Diverse Paper Currency, Coins, Line Graph

“To see the state of Vladimir Putin’s economy, look down at Russians’ feet. The weakening ruble is making Russians more cautious about their purchases, and annual shoe sales across the country have dropped in recent months as Russians wait for their footwear to completely wear out before buying new ones ….”

» Read more

This Recovery Isn’t for Everyone as Inequality Reshapes Russia

(Bloomberg – bloomberg.com – Olga Tanas – March 22, 2017) A snapshot of Russia’s consumer welfare painted a picture of a country increasingly cleaved by inequality. A surprise deterioration of retail sales in February, alongside an unexpected plunge in real disposable incomes, is adding to evidence of what Morgan Stanley is calling an “uneven consumer recovery” driven by rising disparity […]

» Read more

Russians Happier Than They Look, UN Study Shows

UN Building file photo

(Moscow Times – themoscowtimes.com – March 20, 2017) Don’t be misled by those grumpy faces on the Moscow metro: Russia is the 49th happiest place on Earth and it is becoming happier, a new study has found. The United Nation’s yearly World Happiness Report measures “subjective well-being” in 155 countries along criteria such as GDP per capita and life expectancy, […]

» Read more

TRANSCRIPT: [Putin at] Plenary session of Congress of Russian Union of Industrialists and Entrepreneurs

Cash, Calculator, Pen

(Kremlin.ru – March 16, 2017) Vladimir Putin addressed a plenary session of the Congress of the Russian Union of Industrialists and Entrepreneurs. The congress is being held as part of the X Russian Business Week (RBW) on March 13-17, hosted by the Russian Union of Industrialists and Entrepreneurs. The RBW participants coordinate proposals on key areas of interaction between the […]

» Read more

RUSSIALINK RBTH: “Vice-premier: Russia has a unique phenomenon – workers are officially poor”

Cash, Calculator, Pen

Olga Golodets speaks out about worrying trend in the country: despite having regular jobs, millions of people are stuck below the poverty line due to poor wages. (Russia Beyond the Headlines – rbth.ru – March 16, 2017) Russian Vice-Premier Olga Golodets has highlighted the fact that alarmingly low wages in the country are keeping people with regular jobs below the […]

» Read more

NEWSLINK: “Russian inflation falls below 5% for the first time since Soviet days” – bne Intellinews/Ben Aris

Diverse Paper Currency, Coins, Line Graph

“Russia’s consumer price inflation … dropped below 5% for the first time since the fall of the Soviet Union more than a quarter of a century ago. Inflation was 4.6% y/y in February, according to Rosstat, down from 5% in January and in line with the Bloomberg consensus for the month. …”

» Read more

Russia Is Running on More Than Just the Black Stuff; The world’s largest energy producer is out of its longest recession in two decades

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Anna Andrianova- March 7, 2017) [Charts here bloomberg.com/news/articles/2017-03-07/russia-is-running-on-more-than-just-the-black-stuff] Russia has exited recession, with a little help from the boys in uniform, a major statistical revision – and the global oil price. And not just any recession, but its longest in two decades. So what happened? 1. Is the economy really out of the woods? Actually, the […]

» Read more

Half of Russia Still in Crisis Prepares for Worse to Come

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – February 20, 2017) The half of Russia’s economy that hasn’t got wind of a recovery is already hunkering down for the crisis to come. Once indispensable for the country’s prospects, consumption flat-lined well below zero throughout last year even as the broader economy defied gloom. From the ruble to industrial output and wages, […]

» Read more

TRANSCRIPT: [Putin at] Working meeting with Economic Development Minister Maxim Oreshkin

Kremlin and River

(Kremlin.ru – February 15, 2017) Vladimir Putin had a working meeting with Economic Development Minister Maxim Oreshkin, who briefed the President on the economic situation in Russia in 2016, and the prospects for 2017. Ways to continue reducing inflation this year were also under discussion. President of Russia Vladimir Putin: Mr Oreshkin, do you have the final figures or the […]

» Read more

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

Russians Are Getting Used to Being Broke

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Olga Kuvshinova – February 6, 2017) Russia’s recovery from the current recession continues to slow, according to the Economic Development Ministry. The reason: demand has plummeted. If that is the case, it means the Russian economy’s decline is in full swing despite official statements that the recession has ended. The decline in retail turnover – […]

» Read more

RUSSIALINK RBTH: “Russians can no longer afford to pinch pennies on food”

Cash, Calculator, Pen

If incomes continue to drop, however, Russians won’t be able to cut their food budgets and still adequately feed themselves. Any further cuts could mean risking malnutrition. (Russia Beyond the Headlines – rbth.ru – IGOR ROZIN, RBTH – Feb. 6, 2017) Consumers are not willing to further cut food spending even if their financial situation continues to deteriorate. Grocery spending […]

» 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

TRANSCRIPT: [Vladimir Putin, Mikhail Men, Alexander Novak, Nikolai Nikiforov, Vitaly Mutko at] Meeting with Government members

Map of Russia and Russian Flag adapted from images at state.gov

(kremlin.ru – February 1, 2017) Vladimir Putin met with Government members to discuss possibilities for further developing treasury monitoring of budget spending, the situation with co-funded housing development, and a number of other current issues. President of Russia Vladimir Putin: Good afternoon colleagues. Today, we will discuss the results of work and further development for treasury monitoring of budget spending. […]

» Read more

RUSSIALINK RBTH: “Russians weather the crisis by sharing beds, rides and jobs”

Moscow Roads

The number of Russians who during the crisis found additional work on the YouDo online exchange grew by almost six times in the 2015-2016 period. BlaBlaCar and AirBnB also told RBTH that there was an increase in demand for its services in Russia in 2016. (Russia Beyond the Headlines – rbth.ru – KIRA KALININA, RBTH – January 30, 2017) The […]

» Read more

RUSSIALINK RBTH: “Index of fear: What are Russians most afraid of?”

Map of Russia and Russian Flag adapted from images at state.gov

Most Russians polled are afraid of war and international conflicts, but the number decreased to 14 points in December compared to 23 points in January 2016. (Russia Beyond the Headlines – rbth.ru – January 30, 2017) Russians’ main fears remain the threat of war and inflation, while family troubles are the least worry. These findings are the results of a […]

» Read more
1 2 3 8