International companies are optimistic about the changes taking place in the Russian economy, positively assess the change of government and are ready to increase investment, said Adviser to the President of the Russian Federation Maxim Oreshkin in an interview with Russia 24 (VGTRK) following the results of the World Economic Forum in Davos. Photo:russiabusinesstoday.com “Their mood (foreign investors) is very positive (regarding what is happening in Russia),” Oreshkin said following the meeting of the Advisory Council on Foreign investment during the World Economic Forum held in Davos. “Investors see the initiatives that have been laid down in. Read more...
Current growth statistics could paint a more negative picture on Russia’s economy than the country’s performance and investment landscape deserves, according to the latest Outside the Boxreportby Novosibirsk-based finance groupBCS Global Markets. Russia’s economic performance is in a strong position overall, despite current GDP figures, which – as seen in previous years – could be revised up, suggests the report, the second of its kind in collaboration with leading Russian analysts Alexander Kudrin and Evgeny Gavrilenkov. “Declining consumer demand and Russia’s so-called two-tier economy – whereby banks, mining. Read more...
The Russian economy is very likely to experience monthly deflation in August, but consumer prices will be up 4.4-4.5% in year-on-year terms, the economy ministry said on Wednesday,accordingtoReuters.Deflation may come at 0.2-0.0% due to falling prices for vegetables and fruit, the ministry said. Annual inflation in Russia slowed down in July 2019 to 4.58% after 4.66% in June, the Economic Development Ministry said in a report on Wednesday. “In July 2019, annual inflation continued to slow down — to 4.58% after 4.66% a month earlier,” the report stated. An increase in consumer prices was mainly driven by adjustment of tariffs on housing and public. Read more...
A trend of “strategic nationalization” under President Vladimir Putin’s current term can only increase the share of the state in the Russian economy in the following years, analysts toldRussia Matters. Earlier this year, sanctioned tycoon Oleg Deripaskatoldthe Financial Timesthat the Russian state holds 70 percent of the country’s economy in its hands. This figure hasbeenin circulation foraboutfive years afterit was mentioned in apaperby the International Monetary Fund (IMF). Russia’s Federal Anti-Monopoly Service gavea similar estimatefor 2017-2018, although without citing specific sources and using indefinitive language. At the. Read more...
Western economic restrictions have deprived the Russian economy of $50 billion, but the European Union has been hit harder, losing $240 billion since 2014, Russian President Vladimir Putin said,RTreported. Other countries also felt the impact of anti-Russian sanctions, Putin said as heanswered citizens’ questions during the annual Direct Line Q&A sessionin Moscow on Thursday. The United States, which does not have the biggest trade turnover with Russia, has lost $17 billion due to sanctions, while Japan lost $27 billion, RT adds The Russian President added that the West is unlikely to significantly change its attitude toward Russia anytime soon, so Russia. Read more...
On Nov. 9, the World Bankreleasedits latest forecast for the Russian economy. The prediction was better than expected, showing the Russian economy shrinking by 0.6 percent in 2016, then rising by 1.5 percent in 2017 and by 1.7 percent in 2018. In June, the World Bank predicted that Russia’s GDP would fall by 1.2 percent in 2016. The latest World Bank forecast is close to the most recentestimatesby Russia's Ministry of Economic Development, which show the country's GDP shrinking by between 0.5 percent and 0.7 percent in 2016. According to the Bank’s report, Russia’s economic decline has slowed considerably due to growth in such. Read more...
There may be a light at the end of the tunnel for the beleaguered Russian economy; the World Bank’s latest forecastpredictsthe fall of GDP in 2016 to be 1.2 percent instead of the previously projected 1.9 percent. According to the bank, Russia's GDP will grow by 1.4 percent in 2017 and by 1.8 percent in 2018. The Russian economy is adjusting to the new environment better than expected, says Sergei Khestanov, an associate professor of the Department of Finance and Banking at the Russian Presidential Academy of National Economy and Public Administration. According to him, the free float of the ruble, which led to the devaluation of the national currency, has become. Read more...
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