(Moscow Times – themoscowtimes.com – January 25, 2016) Twenty-three percent of Russians received no gifts for New Year – the highest percentage for six years, according to a poll conducted by state-run pollster VTsIOM. For those who did receive gifts, the most popular items were sweets, alcohol and delicacies – these items were received by 24 percent of respondents, according […]
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Sometimes sociological surveys capture paradoxical results. For example, for some reason Russians on the whole feel happier when they are poorer and many people that claim to be Orthodox Christians do not go to church and do not believe in God. As the famous 19th century poet Fyodr Tyutchev once said, “Russia cannot be understood with the mind alone.” (Russia […]
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(Moscow Times – themoscowtimes.com – Peter Hobson – January 22, 2016) Russian officials are touting a new wave of privatization to fill the hole in the government’s finances caused by the slumping oil price. With the cost of crude falling toward $30 per barrel early in the year, Finance Minister Anton Siluanov announced that 1 trillion rubles ($12.5 billion) could […]
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(Moscow Times – themoscowtimes.com – January 22, 2016) Russia is second only to its former Cold War foe the United States in terms of its power to influence the global agenda but lags behind many other countries in most categories, a new ranking presented at the Davos World Economic Forum said. Moscow scored a 9.4 in the “Power” category, which […]
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(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 […]
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(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 […]
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(Moscow Times – themoscowtimes.com – Eva Hartog – January 15, 2016) China, the world’s most populous country, might have slipped through its fingers, but with Russia Netflix in January pocketed the largest country by landmass and the promise of tapping into a booming online market. Netflix’s move into Russia, along with 129 other countries, was heralded by its CEO as […]
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(Moscow Times – themoscowtimes.com – January 19, 2016) The majority of Russian citizens expect that the government will stabilize economic and political conditions in the country, a poll carried out by the independent Levada Center pollster revealed. The results of the survey, published on Monday, showed that 53 percent of respondents believe that government policy should be focused on the […]
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Reuters covers Russian financial positions. Russia’s current account surplus improved in 2015 while net capital outflows fell by almost two-thirds, underscoring the role of a weaker rouble in mitigating the impact of a slide in oil prices. Preliminary balance of payments data published by the central bank on Monday showed the current account surplus increasing to $65.8 billion in 2015 […]
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Foreign travelers can now get to know Moscow better thanks to some new mobile apps for those that love museums, architecture and even making random new friends in the metro. (Russia Beyond the Headlines – rbth.ru – Kira Egorova, RBTH – January 18, 2016) Moscow, Russia If digital detox while on holiday is not one of your goals and you […]
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(Eric Kraus – Facebook – January 16, 2016) I often wonder whether Gref’s slightly hysterical tone is a good thing – as it is a goad to action against complacency – or it is a net-net negative because it simply adds to the ambient pessimism. Listening to his talk at the Gaidar Conference – there is one obvious problem – […]
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(Moscow Times – themoscowtimes.com – January 15, 2016) Russia has failed to adapt to economic and technological change and has fallen into the ranks of “downshifter” countries that will catastrophically lag behind their more advanced rivals, the head of the country’s largest bank said Friday. “We must honestly admit that we have lost to competitors,” German Gref told the Gaidar […]
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(RFE/RL – rferl.org – Tom Balmforth – MOSCOW, January 17, 2016) What’s the difference between the ruble, the dollar, and the pound? With a dollar, you can buy a pound of dried rubles. Jokes like these have become par for the course as the recession-hit Russian economy limps into 2016 showing no signs of recovery and the national currency plunges […]
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Deutsche Welle covers the impact of Russia’s economic crisis. The impact of the economic crisis is now noticeable in everyday life in Russia. Many are now living below the poverty line. The number of people seeking help is rising. Click here for “Russian economic crisis drives people to the soup kitchens” – Deutsche Welle
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The Financial Times covers the impact of Russia’s economic downturn on older Russians. Several Russian regions have over the past year been forced to suspend benefit payouts or stop the inflation indexing of public sector wages. … The dramatic slide in crude prices has slashed revenues from the export of oil and gas which account for more than half Russia’s […]
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(Bloomberg – bloomberg.com – Daryna Krasnolutska – January 14, 2016) [Charts here bloomberg.com/news/articles/2016-01-13/hidden-sting-drives-up-costs-for-ukraine-in-russian-trade-war] With the conflict in Ukraine already having ravaged bilateral trade, Russia canceling a free-trade pact with its former ally wasn’t seen as a big danger. But there was a twist. On top of annulling the accord, a response to Ukraine’s trade agreement with the European Union, Russia […]
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(Moscow Times – themoscowtimes.com – Peter Hobson – January 14, 2016) New fears over China’s economy and sharp falls in the price of oil have worsened the outlook for Russia as it tries to emerge from recession. The price of crude, the linchpin of Russia’s economy, fell almost 20 percent in the first two weeks of January to just above […]
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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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(Government.ru – January 13, 2016) The theme of the 2016 Gaidar Forum is “Russia and the World: Looking to the Future.” The Gaidar Forum is an annual international academic and practical conference in the field of economic policy. It was first held in 2010 in memory of Yegor Gaidar, an outstanding academic and economist and the architect of Russian reforms […]
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(Moscow Times – themoscowtimes.com – January 15, 2016) The number of Russians that believe they would be able to find a good job if they lost their current position fell by 10 percent last year, the results of the poll published Friday revealed. Only 25 percent of Russians think they would manage to find a position similar to the one […]
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(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 […]
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(Paul Goble – Window on Eurasia – Staunton, January 12, 2016) Vladimir Putin has had the time and resources “to transform Russia if not into the next China then into a new Emirates by laying the foundations for economic growth over several decades,” Vladislav Inozemtsev says. But he didn’t do so and as a result, these years for Russia were […]
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The Russian delegation at the Davos Forum will be headed by Yury Trutnev, a deputy prime minister and the Presidential Plenipotentiary Envoy to the Far East. According to experts, this means that Russia will primarily focus on the presentation of Asian projects at the forum. Neither the president nor the prime minister will travel to Switzerland. (Russia Beyond the Headlines […]
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(Moscow Times – themoscowtimes.com – January 13, 2016) The volume of Chinese exports to Russia fell by 34.4 percent last year to $32.9 billion, the TASS news agency reported Wednesday, citing China’s customs department. Trade turnover between China and Russia dropped by 27.8 percent to $64.2 billion in 2015. The volume of Russia’s exports to China declined last year by […]
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(Interfax – January 13, 2016) Oil prices are likely to go on sliding in the near future, Russian Finance Minister Anton Siluanov said. “Today there’s a very tight balance on the oil market, we’re seeing that nobody is cutting oil production. We’re likely in the short term to see further decline in prices for this commodity,” he said. “Indicators for […]
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(Moscow Times – themoscowtimes.com – January 13, 2016) The Russian ruble fell to 77 against the U.S. dollar on Tuesday for the first time since December 2014 as global prices for oil continue to slide, the RIA Novosti news agency reported. As of Tuesday morning, the Russian currency had slipped to 77.01 against the U.S. dollar and 83.80 against the […]
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