CBR suspends foreign currency purchases tied to the fiscal rule until the end of September
Russia CBR suspends foreign currency purchases tied to the fiscal rule until the end of September Since the beginning of 2017, the Central Bank of Russia has purchased daily a pre-announced amount o...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
CBR again lowers key rate and forecasts moderate inflation
Russia CBR again lowers key rate and forecasts moderate inflation Last Friday (Jul. 26), the Board of Directors of the Central Bank of Russia, as generally expected, decided to lower the key rate by...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Profits of Russian firms have supported out-of-pocket funding for investments; bank borrowing has been low
Russia Profits of Russian firms have supported out-of-pocket funding for investments; bank borrowing has been low Rosstat reports that the net profits of large and medium-sized firms (excluding the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Fast growth in household lending in 2017
Russia Fast growth in household lending in 2017 The CBR reports that the bank credit stock rose by 3.5 % when exchange rate shifts are included. The stock of corporate loans was largely unchanged, w...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Brisk growth in Russian goods trade continues
Russia,economy Brisk growth in Russian goods trade continues The dollar value of goods exports and imports rose by nearly 30 % y-o-y in the first six months of 2016. In the second quarter, import gr...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Contraction of the Russian economy slowed this year
Contraction of the Russian economy slowed this year Rosstat reports that GDP fell 1.2 % y-o-y in the first quarter. Russia’s economy ministry noted that the impact of leap year blunted the drop. The ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
CBR keeps key rate unchanged at 11 %
CBR keeps key rate unchanged at 11 % The Central Bank of Russia stated that inflation has slowed down in recent months, but inflation risks remain elevated. Hence, the CBR board of directors decided ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Shanghai Cooperation Organization meets in Tashkent
Shanghai Cooperation Organization meets in Tashkent The Shanghai Cooperation Organization (SCO), founded in 2001, consists of Russia, China and four Central Asian countries (Uzbekistan, Kazakhstan, K...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian oil production growth slows
Russian oil production growth slows Preliminary figures from Russia’s energy ministry show oil output (incl. gas condensates) grew 2 % y-o-y in the first half of 2016. Output growth has slowed in rec...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian agriculture enjoys another year of growth
Russia Russian agriculture enjoys another year of growth While agricultural output grew almost every year over the past decade, 2020 was no exception even if growth slowed down to about 1.5 %. ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Russian social security system – expensive and rigid
Russian social security system – expensive and rigid A fresh World Bank report finds Russia's social security costly and complex. Social spending on federal and regional levels, and via social fu...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Even with stabilisation of oil prices, the ruble has lost value in recent months
Russia Even with stabilisation of oil prices, the ruble has lost value in recent months The external value of the ruble has traditionally tracked – almost slavishly – changes in world crude oil pric...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Putin visits Uzbekistan
Putin visits Uzbekistan President Vladimir Putin visited Uzbekistan this week to extend his condolences for the death of the country’s long-time president Islam Karimov and to meet with Uzbekistan’s ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Recession hits Russian regions
Recession hits Russian regions Private consumption has fallen considerably. The volume of retail sales in the first half was down 6–12 % y-o-y in most of the eight Federal Districts. The decline in t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
President Putin speaks to foreign investors at St. Petersburg international economic forum
President Putin speaks to foreign investors at St. Petersburg international economic forum Putin thanked investors who have continued to operate in Russia despite the political situation. He noted t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Ruble appreciation enters third month
Ruble appreciation enters third month The ruble’s recent recovery reflects stabilisation of global oil prices and reduced foreign currency demand in Russia. Demand for foreign currency is no longer a...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian industrial output grew at a moderate pace last year
Russia Russian industrial output grew at a moderate pace last year Industrial output in 2018 was up 2.9 % from the previous year. However, seasonally-adjusted time series have shown little indicatio...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian oil production volumes fell in April
Russia Russian oil production volumes fell in April The International Energy Agency (IEA) reports that Russian crude oil output averaged around 10 million barrels a day in the first three months of ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Uneven development in Russian regions last year
Russia Uneven development in Russian regions last year Uneven development in Russian regions last year While Russian industrial output and retail sales overall grew by about 1 % last year, industri...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
EU ban on imports of Russian coal goes into effect
Russia EU ban on imports of Russian coal goes into effect The EU’s ban on imports of Russian coal entered into force on August 10. The EU decision to ban Russian coal, which was made last April, inc...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022