Russian export earnings and import spending continue to fall
Russian export earnings and import spending continue to fall Preliminary balance-of-payments figures from the Central Bank of Russia show export earnings from goods and services fell by a third in th...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Higher oil prices lift ruble’s exchange rate
Higher oil prices lift ruble’s exchange rate The rising price of Urals-grade crude oil since January has also boosted the ruble’s exchange rate. On Thursday (Apr. 7) the price of Urals crude was $36....
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Lower oil prices hurting values of ruble and other CIS currencies
Lower oil prices hurting values of ruble and other CIS currencies At end-December, ruble hit new lows for the year pulled by declining oil prices. The ruble has renewed its slide in recent days as oi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Forecasters see the Russian economy contracting slightly in 2016
Forecasters see the Russian economy contracting slightly in 2016 Recent economic forecasts, with the exception of the brighter projection of Russia’s economy ministry, see GDP contracting about a hal...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Cheap oil hurts ruble
Cheap oil hurts ruble The recent slide in crude oil prices has again affected the Russian ruble’s external value. The price of Urals-grade crude oil has fallen by nearly 25 % since mid-October. Today...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian central bank keeps rates unchanged
Russian central bank keeps rates unchanged The Central Bank of Russia last week decided to keep its key rate at 11 %, a level held since the start of August. The CBR noted that, while inflation risks...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Improved profitability of Russian firms early this year gave support to paying down foreign debt
Improved profitability of Russian firms early this year gave support to paying down foreign debt Even entering recession, corporate sector profits relative to GDP in the early months of this year soa...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Government wants to increase competition but also restrictions on public sector procurements
Government wants to increase competition but also restrictions on public sector procurements A recent economy ministry report notes that there is still plenty of room for increasing competition and t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Signs that Russian economy’s decline may be stabilising
Signs that Russian economy’s decline may be stabilising The on-month contraction in seasonally adjusted industrial output as well as a core part, i.e. manufacturing output, was smaller in June than ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR cuts key rate to 14 %
CBR cuts key rate to 14 % Last Friday (Mar. 13), the Central Bank of Russia cut its key rate one percentage point on the heels of its February lowering to 15 %. With risks of weaker economic growth s...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR surprises with 2 p.p. cut in key rate
CBR surprises with 2 p.p. cut in key rate The key rate was lowered to 15 % starting from Monday (Feb 2). The Central Bank of Russia said the rate cut was possible because its 6.5-percentage-point inc...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Contractions in Russian exports and imports intensified
Contractions in Russian exports and imports intensified Preliminary CBR balance-of-payments figures show export earnings on goods and services in the fourth quarter of 2014 fell 19 % in dollar terms ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian interest rates surged late last year
Russian interest rates surged late last year In order to calm inflation and capital exports, the Central Bank of Russia last year raised its key rate (the 7-day repo credit rate) six times. Over the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Recovery of Russian economy moderated in August
Russia Recovery of Russian economy moderated in August The recovery in consumption-driven branches began to fade slightly in August, while primary production supported the overall economy. Although ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russian inflation remained moderate
Russia Russian inflation remained moderate February consumer prices were up by 2.3 % y-o-y. Inflation slowed slightly from the January pace of 2.4 %. Much of the drop can be attributed to ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Lower growth in Russian construction activity
Russia Lower growth in Russian construction activity According to Rosstat, annual real growth in construction activity in 2018 was still 5.3 %. This year, growth has been non-existent. The volu...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian federal budget revenue streams at low level; spending continues to rise
Russia Russian federal budget revenue streams at low level; spending continues to rise As in September, nominal federal budget revenues dwindled by about 4 % a year in October. Even though the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Russian government budget revenues and spending at high levels; deficit vanishes
Russia Russian government budget revenues and spending at high levels; deficit vanishes Russia saw the pace of budget revenue growth accelerate further in the third quarter, i.e. a more than 40 ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Russian pensioners and select public sector workers receive notable one-time stimulus payments this month
Russia Russian pensioners and select public sector workers receive notable one-time stimulus payments this month On August 24, president Vladimir Putin decreed a one-time stimulus payment to pension...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Recovery of Russian economy continues
Russia Recovery of Russian economy continues Russia’s Ministry for Economic Development estimates that GDP grew in March by 0.5 % y-o-y, while GDP was still down by over 2 % y-o-y in Janua...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021