Russia last year produced and exported more gas and oil than before
Russia Russia last year produced and exported more gas and oil than before Russia extracted 556 million metric tons of crude oil and associated gas in 2018. Average daily crude production exceeded 1...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia’s foreign currency reserves swell to highest level in years
Russia Russia’s foreign currency reserves swell to highest level in years As of end-September, the value of Russia’s foreign currency and gold reserves reached 531 billion dollars, its highest level...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia and Turkey want to increase bilateral use of their currencies
Russia Russia and Turkey want to increase bilateral use of their currencies At the beginning of this month, Russia and Turkey signed an agreement that seeks, among other things, to increase the use ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Stimulus included in Russia’s 2020−2022 government sector budget framework
Russia Stimulus included in Russia’s 2020−2022 government sector budget framework The finance ministry’s three-year fiscal framework covers the entire consolidated budget. That includes the federal ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Intra-elite competition increasingly reflected in institutional behaviour in Russia and the economy more broadly
Russia Intra-elite competition increasingly reflected in institutional behaviour in Russia and the economy more broadly Observers note that the Duma’s increasingly proactive role in legislating and ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Difficult to form a full picture of Russia’s sizeable public sector procurements
Russia Difficult to form a full picture of Russia’s sizeable public sector procurements Russia’s finance ministry reports that public sector contracts made last year under procurement oversight...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia’s goods trade surplus last year was larger than before
Russia Russia’s goods trade surplus last year was larger than before Russian customs reports that in 2018 the country’s goods trade surplus climbed to 212 billion dollars, or roughly 12 % of GD...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Central Bank of Russia resumes forex-buying mandated by fiscal rule
Russia Central Bank of Russia resumes forex-buying mandated by fiscal rule On January 15, the Central Bank restarted its foreign currency buying tied to the government’s fiscal rule after a five mon...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russia and Turkey celebrate progress in Black Sea gas pipeline project
Russia Russia and Turkey celebrate progress in Black Sea gas pipeline project The new Black Sea gas pipeline Turkish Stream (TurkStream) runs under the sea bottom from Krasnodar to west of Istanbul....
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia’s ranking improves slightly and China’s considerably in World Bank’s Doing Business index
Russia,China Russia’s ranking improves slightly and China’s considerably in World Bank’s Doing Business index Russia rose from 35th place last year to 31st place this year, and China jumped from 78t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia was ranked the 43th most competitive country by the World Economic Forum this year
Russia Russia was ranked the 43th most competitive country by the World Economic Forum this year The annual Global Competitiveness Report released last week included 140 countries. Russia’s ranking ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
The role of the US dollar as a payment currency is under discussion in Russia
Russia The role of the US dollar as a payment currency is under discussion in Russia According to finance minister Anton Siluanov, the cabinet has taken up discussion of a de-dollarisation programme...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
IMF’s annual Article IV consultations with Russia stress ongoing need for reform
Russia IMF’s annual Article IV consultations with Russia stress ongoing need for reform The IMF expects Russian GDP to grow by 1.7 % this year and 1.5 % next year if the oil price remains roughly ar...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia rises to 75th place in the World Bank's logistics performance ranking for 2018
Russia Russia rises to 75th place in the World Bank's logistics performance ranking for 2018 The survey-based Logistics Performance Index (LPI) covered 160 countries this year. Russia's scor...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia's goal of halving poverty would not require massive amounts of funds
Russia Russia's goal of halving poverty would not require massive amounts of funds President Putin's inauguration Decree, issued on May 7, includes a goal of cutting Russian poverty in half ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia's government sector deficit shrinks, the reserve fund will increase
Russia Russia's government sector deficit shrinks, the reserve fund will increase In the first quarter of this year, revenues to the consolidated budget (federal, regional and local budgets plus...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia to require unique identifiers for many consumer products next year
Russia Russia to require unique identifiers for many consumer products next year At the end of 2017, the Duma approved a law on unique identifier codes for products sold in Russia. At the moment, th...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
No large economic policy changes expected from Russia's new cabinet
Russia No large economic policy changes expected from Russia's new cabinet On May 18 president Vladimir Putin approved the new cabinet proposed by prime minister Medvedev, consisting of 10 deput...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russia's import recovery slows; outflows of private capital increase slightly
Russia Russia's import recovery slows; outflows of private capital increase slightly Measured in US dollars, the official currency for reporting the value of Russian foreign trade and balance-of...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Central Bank of Russia lowers key rate by 0.25 % and signals plans to keep cutting
Russia Central Bank of Russia lowers key rate by 0.25 % and signals plans to keep cutting With the February 12‑month inflation reading unchanged at 2.2 %, the CBR board decided to cut the key rate t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018