RUSSIALINK: “Pivotal moment approaching in coronavirus crisis, situation to start improving – PM Mishustin” – Interfax

Coronavirus File Photo adapted from image at cdc.gov

Russian Prime Minister Mikhail Mishustin is expecting the start of recovery from the socioeconomic crisis caused by the coronavirus pandemic […]

» Read more

RUSSIALINK: “Most Small Businesses Still Struggling, Warns Top Business Lobby; Small companies twice as likely to be hit by pandemic” – Moscow Times

Cash, Calculator, Pen

Russia’s small companies [reportedly] were almost twice as likely to suffer negative consequences from the coronavirus pandemic than their larger counterparts […]

» Read more

Is Crimea Now Costing Russia More Than It Is Worth?

Map of Ukraine, Including Crimea, and Neighbors, Including Russia

… Not only did that aggressive breach of international law trigger Western sanctions … the authorities in Moscow also never gave the public an honest estimate of just how much money would need to be spent, nor for how long […]

» Read more

Western Sanctions Have Had ‘Outsized Impact’ On Russian Companies, Economist Says

File Photo of G7 Leaders at Summit, adapted from image at usembassy.gov

… Russian corporations have lost almost $100 billion since sanctions were imposed … following the annexation of Crimea … equivalent to about 4.2 percent of the country’s economy [then] […]

» Read more

Russia’s Next Economic ‘Shock’ Likely To Come From Impoverished Regions, Experts Say

Russia Regions Map

Russia … failed to invest enough in its regions, whose health-care systems are now overwhelmed by the coronavirus pandemic, adding to citizens’ frustration with the government […]

» Read more

RUSSIALINK: “IMF projects below-target inflation in Russia, recommends policy easing in coming months” – Interfax

File Photo of IMF Acronym on Wall Below Row of Circular Lights, adapted from image at state.gov by Steven C. Welsh :: www.stevencwelsh.com :: www.stevencwelsh.info

… acceleration of inflation in Russia in recent months was a temporary occurrence brought about mainly by a weakening ruble; consumer price growth will be below target from now on and the Central Bank should lower its key rate in the coming months, the … IMF[] said […]

» Read more

RUSSIALINK: “Pandemic to cease seriously affecting Russia’s economy at start of 2021, budget to be key issue – Belousov”- Interfax

Coronavirus File Photo adapted from image at cdc.gov

MOSCOW. Nov 11 (Interfax) – The coronavirus will very likely cease substantially affecting Russia’s economy by the end of 2020 or early 2021, while the main issue next year will be the budget as well as the necessity to replace budget expenditures with investments, First Deputy Prime Minister Andrei Belousov said on Wednesday during the “Strong Ideas for a New […]

» Read more

RUSSIALINK: “Russia’s Economic Recovery Cooled Before Second Wave Struck” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

The impact is forecast to be weaker than the spring outbreak, but authorities have less options to support the economy this time. (Moscow Times – themoscowtimes.com – Jake Cordell – Oct. 22, 2020) Russia’s economic recovery was losing steam even before a second wave of the coronavirus took hold across the country, a fresh batch of official data has shown. […]

» Read more

RUSSIALINK: “Pandemic to cost Russia 9% of GDP in 2020-2021 – Siluanov” – Interfax

Anton Siluanov file photo

Measures to combat the coronavirus pandemic and cover the budget revenue shortfall will cost Russia around 9% of its GDP in 2020-2021, Finance Minister Anton Siluanov said […]

» Read more

‘Crisis Of Trust’: Russia’s Pandemic Fatigue Combines With Wariness Of Expert Advice

Covid-19 Coronavirus file photo, adapted from image at cdc.gov

Across the world, a growing ‘pandemic fatigue’ appears to be exacerbating the spread of the coronavirus …. Many governments have brought back restrictions they had lifted …. But while many European countries have imposed stringent measures again … Russia has in many ways carried on as normal […]

» Read more

Pandemic has Pushed 6.1 Percent of Middle-Class Russians into Poverty, HSE Experts Say

Diverse Paper Currency, Coins, Line Graph

(Paul Goble – Window on Eurasia – Staunton, Sept. 26, 2020) The coronavirus pandemic has cut the incomes of 24 percent of the members of the Russian middle class and driven 6.1 percent of them into the ranks of the country’s poor, according to an analysis of Rosstat data by scholars at Moscow’s Higher School of Economics. Before the pandemic, […]

» Read more

RUSSIALINK: “How Will a Second Wave Affect Russia’s Economy? The damage won’t be as devastating, but the long-term impacts will linger.” – Moscow Times

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Jake Cordell – Sept. 29, 2020) Russia’s economy should be able to weather the ravages of a second wave of the coronavirus better than the first, economists say, but uncertainty and volatility will remain for the foreseeable future. As Russia records a sharp spike in new infections and Moscow starts to roll out new restrictions […]

» Read more

JRL NEWSWATCH: “Russia to cut defence spending in bid to prop up ailing economy; Continued support for less well-off set to wipe out fiscal surplus of recent years” – Financial Times/ Henry Foy

File Photo of Close-Up of Line of Russian Soldiers in Dress Uniforms for Parade, adapted from image at georgewbush-whitehouse.archives.gov with credit to Eric Draper

“Russia will spend more on supporting its economy than funding its armed forces next year for the first time since 2014 … ahead of critical parliamentary elections. … [with economic] doldrums … amid low oil prices and western sanctions … [and with the economy] contract[ing] sharply … due to … coronavirus …. The Kremlin announced …  [higher] spending … to […]

» Read more

JRL NEWSWATCH: “Russia’s Crumbling Power Vertical: Decreasing Disposable Income Drives Discontentment” – PONARS Eurasia

Diverse Paper Currency, Coins, Line Graph

“Accumulating evidence points at prospects of growing destabilization at the regional level in Russia. In 2019, five consecutive years of economic stagnation ignited a wave of protests across the country. In 2020, as Russia’s economic situation worsened dramatically due to a pandemic-driven halt to economic activity combined with a fall in oil prices, support for Kremlin appointees might start crumbling […]

» Read more

RUSSIALINK: “Russia Upgrades Economic Outlook on Strong Data; The hit to GDP is expected to be less severe than first thought.” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Aug. 31, 2020) The Russian government expects the coronavirus to inflict significantly less damage on the country’s economy than it first feared. The Economy Ministry is now predicting GDP will fall by 3.9% in 2020, up from its previous forecast of a 5% contraction, Kommersant reported Monday. Russia’s economy has not taken as big a […]

» Read more

RUSSIALINK: “NES [New Economic School] rector Ruben Yenikolopov: Negative impact of pandemic might be far greater than just drop in GDP [Excerpt]” – Interfax

Diverse Paper Currency, Coins, Line Graph

(Interfax – Aug. 23, 2020) The Russian economy is weathering the trials of the pandemic relatively well so far, with key macro indicators, at any rate, looking better than in many other countries. But statistics can be deceiving. Firstly, they cannot record changes fast enough and, secondly, not all the repercussions for the economy have been felt yet and they […]

» Read more

‘No More than 10’ Russian Regions Now Providing Accurate Coronavirus Data, Mathematical Analysis Shows

Covid-19 Coronavirus file photo, adapted from image at cdc.gov

Over the last month, regions including Moscow are reporting figures that reflect what their leaders have promised but that are improbable when subjected to mathematical analysis […]

» Read more

JRL NEWSWATCH: “Russian Economy Shrank 8.5% in Second Quarter – Official Data; Fall in GDP is less severe than government and Central Bank feared” – AFP

Diverse Paper Currency, Coins, Line Graph

“Russia’s economy contracted … 8.5% year-on-year in the second quarter, the state statistics agency [Rosstat] said … in its first assessment of the impact of … coronavirus and an oil crisis. GDP fell in ‘all areas of the economy except agriculture’ … Rosstat … said …, with passenger transport down 79% and the services industry down 37.2% The sharp drop […]

» Read more

JRL NEWSWATCH: “Vladimir Putin Is No Mastermind, But He Has Played Russia’s Cards Well; It verges on impossible to forecast what Moscow will do tactically. What it will do strategically, however, is more intelligible and thus more predictable.” – The National Interest/ James Holmes

Map of Commonwealth of Independent States, European Portion

“…. The Russian armed forces … have to live within their means. Russia depends heavily on exporting oil and natural gas … [L]ow energy prices constrict … national income and … ability to afford pricey armaments. Prices …  have run off a cliff amid coronavirus lockdowns. … [F]or instance … the Severnoye Design Bureau, a division of the United Shipbuilding […]

» Read more

Russians Don’t Believe Kremlin about Coronavirus or the Economy, New Surveys Show

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

Two new surveys show the collapse of public trust in the powers that be …. [T]he level of trust in Russia today is lower than it has been in 15 years […]

» Read more

JRL NEWSWATCH: “How Russian imperialism could bring down Putin” – The Hill/ Janusz Bugajski

File Photo of Vladimir Putin at Podium with United Russia Logo, Gesturing

“… Putin has based his domestic support on economic growth and restoring the ‘Russian World.’ With the Russian economy in a nosedive, the Kremlin looks increasingly likely to attack a former Soviet neighbor to revive its imperial credentials. … Russia invaded Georgia to divert public attention from the 2008 financial crisis, and … invaded Ukraine to help quash growing protests […]

» Read more

JRL NEWSWATCH: “Russia’s Putin sets new 2030 goals as National Projects scaled back” – bne Intellinews

Kremlin and River

“… Putin has signed a ‘July Decree’ … outlin[ing] … national development goals up to 2030 …. risk[ing] … [failure to] fulfill[] … [his] previous economic platform due to the … COVID-19[] crisis. … [with] deadlines for [the] National Projects spending spree … being pushed from 2024 to 2030. [The new platform] outline[s] five development goals: 1) maintaining the population, […]

» Read more

JRL NEWSWATCH: “Putin delays $360bn spending plan as Covid-19 batters economy” – Financial Times/ Henry Foy

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

“Volte-face comes shortly after vote that allows Russian president to extend his rule for another 16 years.” “… Putin has delayed his flagship … national investment plan by six years as the coronavirus pandemic pitches Russia into recession and leaves a hole in the federal budget. … Putin unveiled the so-called National Projects two years ago as a much-needed Rbs25.7tn […]

» Read more

RUSSIALINK: “Economic crisis likely not to be protracted; not all risks from coronavirus removed yet – Manturov” – Interfax

Diverse Paper Currency, Coins, Line Graph

MOSCOW. July 7 (Interfax) – The current signs of recovery suggest that the economy will not become bogged down in a protracted phase of the crisis, Industry and Trade Minister, Denis Manturov, said on Tuesday during the online international industrial marathon, Innoprom, which is a platform uniting exhibition events, online sessions and congresses, as well as educational workshops. “Of course, […]

» Read more

RUSSIALINK: “IMF forecasts deeper slump for Russian, global economies” – Interfax

File Photo of IMF Acronym on Wall Below Row of Circular Lights, adapted from image at state.gov by Steven C. Welsh :: www.stevencwelsh.com :: www.stevencwelsh.info

MOSCOW. June 25 (Interfax) – The International Monetary Fund has downgraded its outlook for the Russian economy in 2020 and now expects the country to see a slump of 6.6% instead of the 5.5% drop it forecast in April. The global economy will also contract by more than previously thought, by 4.9% instead of 3%, the IMF said in its […]

» Read more

How Bad are Things in Russia? For First Time in 15 Years, Moscow Doesn’t Publish Monthly GDP Figures

Aerial View of Kremlin and Environs

(Paul Goble – Window on Eurasia – Staunton, June 13, 2020) For the first time since 2005, the Russian finance ministry did not issue monthly GDP data for May, an indication of just how bad the figures almost certainly would have been and a sign that not publishing data may become a trend in Putin’s Russia (finanz.ru/novosti/aktsii/minfin-zasekretil-dannye-po-vvp-rossii-za-may-1029303651 and rbc.ru/economics/12/06/2020/5ee268459a79476bd86bbda3). Among […]

» Read more

RUSSIALINK: “Russia Starts to Dig Its Way Out of a Coronavirus Economic Hole” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

The Russian economy is set to emerge from the coronavirus crisis on the same slow and steady trajectory it had settled on heading into it, economists believe.

» Read more

JRL NEWSWATCH: “Russia’s consumer orientated business takes the brunt of the coronacrisis blow, basic sectors down 10% in April” – bne Intellinews

Cash, Calculator, Pen

“Russia’s basic sector output was down 9.9% year on year in April … [with] the effects of the coronacrisis …. Over the first four months … Russia’s basic sector output fell 0.9% y/y, versus 2.3% growth in 1Q20. … [Only] [a]griculture … show[ed] growth. All … other subsectors contracted in April. Retail, services, manufacturing and wholesale suffered the most …. […]

» Read more

JRL NEWSWATCH: “Pandemic Upends Putin’s Plans to Raise Russia’s Dwindling Birthrate” – Wall Street Journal/ Ann M. Simmons

File Photo of Russian Crowd, with Russian Flag Being Waved

“President Vladimir Putin has been trying for years to push Russia’s birthrate higher, but the economic fallout from the coronavirus pandemic is undermining his efforts” “… The Kremlin has been trying for years to encourage Russians to have more children. … Putin sees replenishing … population as … key to expanding Russia’s economic and political power. But … falling incomes […]

» Read more

JRL NEWSWATCH: “Putin’s Global Ambitions Are Upended by Coronavirus’s Heavy Toll in Russia” – Wall Street Journal/ Yaroslav Trofimov, Thomas Grove

Map of Commonwealth of Independent States, European Portion

Russian president’s efforts to showcase the country’s strength abroad backfired amid virus troubles at home […]

» Read more

JRL NEWSWATCH: “Russian government presents National Recovery Plan to President Putin” – bne Intellinews

Cash, Calculator, Pen

“… Prime Minister Mikhail Mishustin has presented the National Recovery Plan to … Putin … [with] a launch at the beginning of July. … [T]he government has rolled out two economic support packages, worth RUB3.1 trillion ($42.1bn), or 2.8% of GDP. The RUB7.3 trillion final recovery plan was cut from the previously reported RUB8 trillion plan … includ[ing] the two […]

» Read more

RUSSIALINK: “Russia Prices Economic Recovery Plan at $70Bln” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

Russia will launch a 5 trillion ruble ($73 billion) recovery plan next month to offset economic damage from the coronavirus pandemic, Prime Minister Mikhail Mishustin said in a televised meeting with President Vladimir Putin […]

» Read more

Putin To Bail Out Russian Oil Industry

Oil Well file photo

(Oilprice.com – Irina Slav – May 25, 2020) Russia’s President Vladimir Putin has tasked the government with implementing a set of measures aimed at supporting the oil industry for the duration of the OPEC+ production cut agreement. According to a document published on the website of the Russian presidency, the measures include a prescription not to sanction companies that stray […]

» Read more

Many Russians Expect to Lose Jobs, Take Pay Cuts in Wake of Pandemic

File Photo of Empty Chair and Desk with Computer, adapted from image at osha.gov

Almost half of Russians expect layoffs within their household in the coming months and almost one-third have already had someone in their household recently fired, according to a poll conducted April 26-28 […]

» Read more

JRL NEWSWATCH: “Russia’s GDP shrinks by 20% in April, but government maintains a triple surplus” – bne Intellinews

Cash, Calculator, Pen

“… Russia’s nominal GDP shrank … 28%, of which two-thirds was due to the nation-wide lockdown … another third … due to … oil prices, the Ministry of Finance said …. The real contraction of the economy in April could be 20%, according to the Ministry …. [T]he government has reported … surplus[es] [for] the trade balance, currency account and […]

» Read more

RUSSIALINK: “Profit Slumps Herald More Trouble Ahead for Russia’s Corporate Giants” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

Russian companies’ first quarter financial results are already showing the impact of the coronavirus. The worst is yet to come. (Moscow Times – themoscowtimes.com – Jake Cordell – May 18, 2020) Russia’s blue chip companies have posted some of the bleakest financial results for years in the first few months of 2020, with analysts saying the hit to earnings will […]

» Read more

RUSSIALINK: “Russia’s Economic Woes Continue to Mount During Coronavirus Outbreak” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

As the Kremlin resists pressure to spend, official statistics show economic activity down by a third and tax revenues crashing. (Moscow Times – themoscowtimes.com – Jake Cordell – May 6, 2020) Jake Cordell covers business & economics for The Moscow Times. A third of the Russian economy has ground to a halt because of the coronavirus lockdown, the Russian government […]

» Read more

Russia’s Energy Czar, Disliked And Feared, Catches Blame As Oil Prices Collapse, Venezuela Deals Crumble

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

March was the cruelest month for one of Russian President Vladimir Putin’s longest-serving and most hawkish confidants[,] Igor Sechin … head of state oil company Rosneft …

» Read more

JRL NEWSWATCH: “Russia’s economic woes will clip Vladimir Putin’s wings; Pandemic combined with collapsing oil prices spells real hardship” – Financial Times

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

“… Putin’s … oil price war with Saudi Arabia … was disastrously timed. … days before the coronavirus pandemic began forcing economies around the world into lockdown, cutting crude demand. Russia then succumbed to the virus itself. … [Putin] had to cancel a referendum to approve constitutional changes …. The IMF forecasts Russian [GDP] could contract by 5.5 per cent […]

» Read more

JRL NEWSWATCH: “Facing Disaster, Russian Businesses Find Kremlin Aid Lacking” – AP

Cash, Calculator, Pen

“Desperate [Russian] business owners … have been pleading with the Kremlin for help in the pandemic shutdown. The response … has been slow and largely focused on big industries, leaving most smaller companies to fend for themselves … raising the prospect of massive unemployment and social unrest. The Kremlin’s anti-crisis measures reflect its long-held emphasis on state-controlled companies and a […]

» Read more

RUSSIALINK: “CBR reiterates, strengthens monetary policy signal: scale of shock requires broad steps, economy to require low-cost funds” – Interfax

Central Bank of Russia file photo

MOSCOW. April 28 (Interfax) – The Central Bank of Russia (CBR), which cut its key rate by 50 basis points last Friday for the first time in six months and said that further monetary easing was possible at its next meeting, has reiterated its dovish signal and even strengthened it somewhat. “We must be able to mitigate the blow to […]

» Read more
1 2 3 13