Russian defence spending large, even after declines
Russia Russian defence spending large, even after declines Russian government defence spending fell slightly in nominal ruble terms last year. In real terms, defence spending is down, but reminiscen...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian markets supported by administrative measures
Russia Russian markets supported by administrative measures After a nearly month-long closure, the Moscow Exchange has been opened gradually. Trading has still been quite limited, however. For examp...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
EU’s planned carbon border adjustment mechanism could cause additional costs for Russian exporters
Russia EU’s planned carbon border adjustment mechanism could cause additional costs for Russian exporters In July, the European Commission released a proposal on measures designed to bolster the mor...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Gold and wheat exports partly compensated for drop in value of Russian oil exports last year
Gold and wheat exports partly compensated for drop in value of Russian oil exports last year The 21 % contraction in the value of Russian goods exports last year largely reflected the collapse i...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
IMF forecast sees sharp contraction in Russian economy this year followed by sluggish recovery next year
Russia* IMF forecast sees sharp contraction in Russian economy this year followed by sluggish recovery next year The latest IMF World Economic Outlook, released last week, forecasts a sharp three-pe...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Kyrgyzstan becomes newest member of Eurasian Economic Union; Kazakhstan completes WTO accession talks
Kyrgyzstan becomes newest member of Eurasian Economic Union; Kazakhstan completes WTO accession talks The Eurasian Economic Union (EEU), which includes Russia, Kazakhstan, Belarus and Armenia, welcom...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Outlook for Russian businesses grows cloudier in June
Russia Outlook for Russian businesses grows cloudier in June The monthly PMI readings, which are based on surveys of Russian purchasing managers by market intelligence provider S&P, give a sense...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Russian exports down, imports up in first quarter
Russian exports down, imports up in first quarter Preliminary balance-of-payments figures released by the Central Bank of Russia show that the value of Russia’s exports of goods and services in Janua...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
CBR continues to defend the ruble
CBR continues to defend the ruble With the conclusion of the New Year’s holiday season on January 11, the Central Bank of Russia during the next four days sold $2.2 billion on the currency markets, a...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian economy projected to see gradual recovery next year
Russian economy projected to see gradual recovery next year Key forecasts see a GDP contraction of 0.5‒1 % this year. Russia’s economy ministry and the Central Bank of Russia see GDP growing by more ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
EU import ban and G7 price cap on Russian crude oil enter into force; EU plans further sanctions
Russia EU import ban and G7 price cap on Russian crude oil enter into force; EU plans further sanctions The ban on seaborne shipments of Russian crude oil to EU countries went into effect on Monday ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
CBR lowers key rate further to 8 %
Russia CBR lowers key rate further to 8 % The Central Bank of Russia surprised markets with its much larger-than-expected 150-basis-point cut in the key rate to 8 % from 25th July. In the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
National Welfare Fund holds 76 billion dollars; assets expected to rise before the end of the year
Russia National Welfare Fund holds 76 billion dollars; assets expected to rise before the end of the year According to the budget rule, a share of oil tax revenue will be transferred to the fund if ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Tainted oil fouls Druzhba oil pipeline
Russia Tainted oil fouls Druzhba oil pipeline On April 19, Belarus reported detecting a large quantity of organic chlorides in the crude oil moving through the Druzhba (Friendship) pipeline. Pipelin...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian economy likely to remain in recession throughout 2023
#Russia Russian economy likely to remain in recession throughout 2023 The Russian economy went into a tailspin in the weeks immediately following Russia’s invasion of Ukraine and further escalation ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
Timely CBR support measures avert banking sector panic
Russia Timely CBR support measures avert banking sector panic Russia’s invasion of Ukraine and the new Western sanctions that followed threatened to cause a massive run on bank deposits in Russia. T...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
CBR keeps key rate unchanged
CBR keeps key rate unchanged At the regular meeting last Friday (July 29), the board of the Central Bank of Russia decided to keep the key rate unchanged. The 10.5 % key rate has been in place since ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Sluggish trends in Russian goods trade last year
Russia Sluggish trends in Russian goods trade last year Rosstat’s preliminary breakdown of GDP categories indicates that the overall volume of Russian exports of goods and services decreased by abou...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Production and exports of natural gas declined last year
Russia Production and exports of natural gas declined last year The global economic recession caused by the covid-19 pandemic and last year’s warm winter caused demand for natural gas in Russia’s ma...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Russian GDP contracted by 3.6 % in the third quarter
Russia Russian GDP contracted by 3.6 % in the third quarter Russia experienced an 8.0 % y-o-y drop in GDP in the second quarter as its economy struggled with the covid-19 pandemic and lock...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020