Alexander Abramov

Russian Central Bank close to its goal

Russian Central Bank close to its goal

Inflation in Russia has dropped to 4.1% in annual terms, Chairman of the Central Bank Elvira Nabiullina said. "In March, inflation has dropped to 4.3%. As of April 17, inflation has already dropped to 4.1% in …

 Government predicts economic growth in Russia

Government predicts economic growth in Russia

Russian Economic Development Minister Maxim Oreshkin said that the data for the first months of this year indicate that the Russian economy has entered a new phase of growth. However, in order to increase it, it is necessary …

 Russian banks #039lost#039 100 billion rubles in year

Russian banks 'lost' 100 billion rubles in year

The Russian government is concerned about the reliability of the domestic banking system, the Russian Finance Minister Anton Siluanov said at the convention of the Association of Russian Banks. "We have lost more …

Russian Central Bank symbolically cut its key rate

Russian Central Bank symbolically cut its key rate

The board of directors of Russia’s Central Bank has decided to cut its key interest rate for the first time since September 2016 by 25 basis points to 9.75% per annum. "The Board of Directors notes that inflation slowdown …

Russian Finance Ministry on meaning of #039people#039s bonds#039

Russian Finance Ministry on meaning of 'people's bonds'

Russia's Finance Ministry plans to start sells of the first issue of government federal bonds for individuals, the Director of the Public Debt and State Financial Assets Department of the ministry, Konstantin …

Russian finance minister: rouble overvalued by 10-12%

Russian finance minister: rouble overvalued by 10-12%

Russian Finance Minister Anton Siluanov said that the rouble is overvalued by up to 12%, making it a good time for foreign currency purchases under which the ministry may buy at least $1 billion in 2017

 Russian Finance Ministry to raise VAT, cutting social security tax

Russian Finance Ministry to raise VAT, cutting social security tax

Russia is considering raising value added tax but lowering mandatory social security payments, the country's Finance Minister Anton Siluanov said today, speaking at an economic conference in Moscow. Siluanov said …

Russian Finance Ministry to spend 70.5 bln rubles on foreign currency purchases

Russian Finance Ministry to spend 70.5 bln rubles on foreign currency purchases

Russia's Finance Ministry plans to spend 70.5 bln rubles ($1.2 bln) on foreign currency purchases on the domestic market during the period from March 7 to April 6, 2017, the Ministry said in a statement.

Alexander Abramov: There#039s every reason for Russian Central Bank to lower interest rate

Alexander Abramov: "There's every reason for Russian Central Bank to lower interest rate"

Professor of the Higher School of Economics on the decision of Central Bank to leave interest rate at 10% level

Ruble strengthens during New Year holidays

Ruble strengthens during New Year holidays

While Russia was celebrating the New Year, the Russian national currency has been steadily growing, partly ceased to be dependent on oil prices and the dollar due to the rise in the US Federal Reserve's rate. On January 3, the …

2016 marked by crisis for Russians

2016 marked by crisis for Russians

The crisis, rising prices and the difficult economic situation in the country have been the most significant event of 2016 for 40% of Russians, according to a survey conducted by the research holding Romir. In comparison with 2015, the …

Oreshkin plans to revive Russian economy with 500 billion rubles

Oreshkin plans to revive Russian economy with 500 billion rubles

The new Russian Minister of Economic Development Maksim Oreshkin sent to the government the first policy document - a draft "Action Plan aimed at increasing the Russian economy growth in 2017", the Russian media with …

Maxim Oreshkin named Russian Economy Minister

Maxim Oreshkin named Russian Economy Minister

Russian President Vladimir Putin appointed 34-year old Maxim Oreshkin to the office of the Minister of Economic Development "You are working not too long …

Should Russia expect lifting of sanctions without Hillary?

Should Russia expect lifting of sanctions without Hillary?

The Morgan Stanley bank estimated the probability of lifting of the US sanctions against Russia in the next two years due to Donald Trump's victory in the US presidential elections, Bloomberg reports with reference to …

US Federal Reserve holds rates steady, plans to raise in in December

US Federal Reserve holds rates steady, plans to raise in in December

Yesterday, the US Federal Reserve kept interest rates unchanged in its last policy decision before the U.S. election, but signaled it could hike in December as the economy gathers momentum and inflation picks up. The U.S. central bank said the …

 Ruble sets new record in 2016

Ruble sets new record in 2016

As of 10:42 am (MSK), the dollar exchange rate was worth only 62.585 rubles at the morning trading session, and shortly before - 62.4375 rubles, which was a record for ruble this year. For the last …

What will stop drop in real incomes of Russians?

What will stop drop in real incomes of Russians?

Real incomes of Russians are falling more than volumes declining economy, the Government’s Deputy Prime Minister Olga Golodets said at the session titled 'Improving the welfare of the population as a driver of …

Do Russians trust the ruble?

Do Russians trust the ruble?

The majority of Russians prefer to make savings in rubles. Interest in US dollar decreases, the All-Russian Public Opinion Research Center reports. Today the number of respondents who make savings …

 Will Russia#039s GDP start to growth?

Will Russia's GDP start to growth?

The Russian Ministry of Economic Development expects Russia's GDP will start growing in the near future, the head of department Alexey Ulyukayev said. "The rates for end-use borrowers are being reduced, and the …

IMF improves outlook on Russia#039s economy

IMF improves outlook on Russia's economy

The International Monetary Fund (IMF) has improved the outlook for the Russian economy. In April 2016, the IMF said that Russia’s economy could decline by an additional 1.8% this year, in May it improved its outlook on Russia’s GDP …

Will government#039s participation in financial market to be increased?

Will government's participation in financial market to be increased?

Russian Finance Minister Anton Siluanov, speaking at the International Financial Congress in St. Petersburg, has urged increasing the degree of the state participation in the national financial market. "Even with the reduction of the budget deficit we will need to significantly increase the state participation in the financial market," he noted. The Finance Minister added that the availability of reserves is compulsory for implementation of budget policy.

Will Brexit hurt Russia?

Will Brexit hurt Russia?

Britain leaving the European Union would have an impact on the Russian economy and budget since it will lead to fluctuations in the financial markets and will create conditions for the volatility of oil and other assets.  …

Ulyukayev tells what Russia should do next

Ulyukayev tells what Russia should do next

The Russian Minister of Economic Development Alexei Ulyukayev published an article titled 'What to do next? in the Vedomosti newspaper today. He outlined there his program of actions which would allow the Russian economy to grow every year by 7%, as it was in the early 2000s. The Minister bases his arguments on the premise that the world economy has changed dramatically and only those developing countries that are able to adapt to these changes will keep high growth rates. "In this situation, Russia's economic policy should be aimed at increasing the potential growth, which can be achieved through better use of labor resources, accumulation of capitals through the growth of investments and increasing productivity," Ulyukayev believes.

Will freezing salaries help Russian economy?

Will freezing salaries help Russian economy?

Representatives of the Russian Central Bank for the first time mentioned the threat behind a slow decline of inflation in Russia. The domestic inflation calculated by experts has stabilized, but at a level above 4%. Thus, the Bank of Russia supported the Ministry of Economy's and the Ministry of Finance's intention to reduce labor costs in the economy.

Central Bank of Russia decides not to change key interest rate

Central Bank of Russia decides not to change key interest rate

The Board of Directors of the Russian Central Bank decided to keep its key interest rate at 11%, based on the results of its meeting today. The regulator noted the positive processes of decline in inflation and inflationary …

Did weak ruble disappointed Russian Central Bank?

Did weak ruble disappointed Russian Central Bank?

The weak ruble leads to negative consequences for the Russian economy, chairman of the Bank of Russia Elvira Nabiullina said. She explained that the weak exchange rate of the …

Success in foreign trade strengthens the ruble

Success in foreign trade strengthens the ruble

The ruble has all chancee to continue its strengthening in the near future thanks to the high positive balance of foreign trade, the head of Economic Development Ministry of Russia Alexei Ulyukayev said during today's meeting with the Finnish …

 Is new ruble reduction around the corner?

Is new ruble reduction around the corner?

At the end of last week a change in the number of traders on the currency market, who bet on the growth and fall of the ruble in favor of the latter, was recorded on the Moscow stock exchange. The number of traders oriented to …

Will deflation replace inflation in Russia?

Will deflation replace inflation in Russia?

The effect of the devaluation of the ruble has exhausted itself. This is confirmed by the decrease in the average daily rate of inflation from 0,031% in January to 0.021% in February this year, the report Sberbank CIB analysts reports. …

 Moody#039s withdraws national scale ratings in Russia

Moody's withdraws national scale ratings in Russia

Moody's Interfax Rating Agency has today withdrawn its Russia national scale ratings. "This decision was taken in light of legislative changes and other potential restrictions applicable to the business of providing NSRs in …