JRL NEWSWATCH: “MinEkonomiki congratulates itself on SME progress” – Bear Market Brief

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“The Ministry of Economic Development (MinEkonomiki) will have a meeting to discuss progress on the national project on supporting small and medium-sized businesses. …  launched this January … focus[ing] on business education, bringing self-employed businesspeople out of the gray economy, and … allow[ing] small businesses to borrow at subsidized rates. Some of these initiatives (particularly the subsidized credit) are good, […]

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RUSSIALINK: “WTO has essentially ceased to function due to U.S. actions – minister” – Interfax

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MOSCOW. Feb 18 (Interfax) – The actions of the United States in the area of international trade have led to the World Trade Organization’s (WTO) activities coming to a virtual standstill and one can theoretically conceive that the trade body will cease to function altogether, Russian Economic Development Minister Maxim Oreshkin said on the Main Actors with Nailya Asker-Zade show […]

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JRL NEWSWATCH: “Officials get somber on GDP growth” – BMB Russia/ Bear Market Brief

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“… Oreshkin cited … one-off factors such as an increase in oil production and a dangerous boom in consumer borrowing as unsustainable sources of 2018 growth. … tr[ying] to refocus the discussion on structural reforms …. [and] a massive investment drive via national projects in infrastructure, demography, health, education, and exports …. Nevertheless, to the extent that the high 2018 […]

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Econ Min approves creation of priority development areas in 11 mono-cities

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

St. Petersburg. Aug 11 (Interfax) – The Russian Economic Development Ministry has approved the creation of priority development areas (PDA) in 11 mono-cities – cities that are predominantly dependant on one industry or factory – in nine constituent members of the Russian Federation, the minstry’s press service said. The Economic Development Ministry commission has approved the creation of PDAs in […]

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Russia Eyes Reforms to 13 Percent Flat Income Tax; A new series of reform proposals could tie tax rates to income levels

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(Moscow Times – themoscowtimes.com – Matthew Kupfer – February 22, 2017) #Russia has long prided itself on its simple 13 percent flat income #tax rate. But a series of reform proposals could push the country towards a progressive alternative. The Finance Ministry, the Economic Development Ministry and the Center for Strategic Research (CSR) are actively developing reforms for the Russian […]

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Russia’s New Economic Development Minister is the Status Quo Candidate; Don’t expect former Finance Ministry official Maxim Oreshkin to rock the boat

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(Moscow Times – themoscowtimes.com – Matthew Kupfer – December 10, 2016) It took two weeks for President Vladimir Putin to find a replacement for Alexei Ulyukayev, the economic development minister sacked in a corruption scandal. His final choice of Maxim Oreshkin, a largely unknown 34-yearold deputy finance minister, raised a few eyebrows. “Maxim, you are a fairly young man, but […]

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Econ Ministry restores original GDP forecasts under baseline scenario – newspaper

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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 […]

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

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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 […]

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Russian Ministry Predicts More Recession, Lower Incomes and Less Employment

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(Moscow Times – themoscowtimes.com – January 15, 2016) New falls in the oil price mean that Russia’s economy will likely shrink again in 2016, as incomes continue to fall and unemployment rises, according to a draft outlook prepared by the Economic Development Ministry. Officials had hoped for an end to recession this year, but a near 20 percent decrease in […]

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