Prices continue to soar in Russia
Russia Prices continue to soar in Russia Consumer prices have skyrocketed since Russia’s invasion to Ukraine last month. Import prices shot up with the ruble’s collapse. Prices of many food items ha...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Western countries impose more sanctions on Russia
Russia Western countries impose more sanctions on Russia Over the past two weeks, the US, EU and UK have expanded their sanctions regime against Russia (for earlier sanctions, see BOFIT Weekly 9/202...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Russia sanctions affecting China as well
China,Russia Russia sanctions affecting China as well In the first two weeks after Russia’s unprovoked invasion of Ukraine, China sought to strike a balance with both sides in its political statemen...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Russia seeks to renegotiate tax treaties
Russia Russia seeks to renegotiate tax treaties Russia has bilateral tax treaties with roughly 80 countries. These treaties spell out the rules that governments must follow on taxing income transfer...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russia’s economy weakened in October
Russia Russia’s economy weakened in October Russian economic growth has slackened since the summer’s brisk recovery, with volatile development across branches. Manufacturing and agriculture weighed ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russia’s economic recovery slowed in September
Russia Russia’s economic recovery slowed in September The service sector and primary production were still propping up the Russian economy. Other core sectors showed signs of slowing in September. P...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Covid-19 subdues private consumption in Russia
Russia Covid-19 subdues private consumption in Russia Although Russian GDP still grew by 1.6 % y-o-y in the first quarter of this year, it contracted by 8.0 % in the second quarter as the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Still waiting for Russia’s economic recovery
Still waiting for Russia’s economic recovery The latest Rosstat figures on GDP demand components and imports show that the volume of Russian exports of goods and services recovered from a first-quart...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Budget deficits drain Russia’s Reserve Fund
Budget deficits drain Russia’s Reserve Fund In August, the government withdrew 390 billion rubles ($6 billion) in assets to cover the federal budget deficit. Even so, the Reserve Fund still held at m...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia prepares for serious budget tightening
Russia prepares for serious budget tightening The government earlier this month gave its initial approval to the 2017–19 federal budget framework. Finance minister Anton Siluanov said the budget reve...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia seeks ways to reduce grey pay
Russia seeks ways to reduce grey pay Facing budgetary shortfalls, the government is trying to increase revenues also by improving tax collection. Finance minister Siluanov has noted that grey wages ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Debate on oil taxation continues in Russia
Debate on oil taxation continues in Russia The finance ministry has prepared a proposal that calls for shifting the emphasis from taxing production and exports to taxing oil company profits. The appr...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia debates course of economic policy
Russia debates course of economic policy The economic council led by the president is set to prepare over the next year a new economic policy programme for Russia that will extend through 2025. The w...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia posts weak economic figures for May
Russia posts weak economic figures for May Several short-term economic indicators suggest growth has not yet returned to Russia. While May industrial output was up 0.7 % y-o-y overall and manufacturi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Bank lending growth slows in Russia
Russia Bank lending growth slows in Russia In 2019, banks’ lending to the corporate sector slowed down and the nominal value of the loan stock, calculated in rubles, increased by just 1.2 %. Ab...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Monetary policy easing continues in Russia
Russia Monetary policy easing continues in Russia At its February meeting, the board of the Central Bank of Russia decided to reduce the key rate by another 25 basis points to 6 % p.a. Consumer...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russia dips further into its reserve funds
Russia dips further into its reserve funds Another 390 billion rubles ($6 billion) was lifted from the Reserve Fund in May to cover the budget deficit. The Reserve Fund at the end of May was valued a...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia’s import substitution commission reviews progress
Russia’s import substitution commission reviews progress At the import substitution commission meeting at the end of April, the commission’s chairman, prime minister Dmitri Medvedev, noted that by no...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russia’s services trade shrinks sharply
Russia’s services trade shrinks sharply The value of Russian services exports last year was $52 billion and services imports $88 billion. Services accounted for about 13 % of total exports and nearly...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Consumption down across Russia in 2015
Consumption down across Russia in 2015 Retail sales volumes fell 8–13 % in six of Russia’s federal districts, a significantly larger drop than in the 2009 recession. Of Russia’s 83 administrative re...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016