Russian Ministry of Finance

#039People#039s#039 bonds becoming popular

'People's' bonds becoming popular

For the first day, the Russians bought government federal bonds for individuals - 'people's bonds' - in the amount of 696.8 million rubles, the Russian Ministry of Finance said. "The placed volume is 696,807 million …

 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 Finance Ministry: Oil prices may return to $40 level

Russian Finance Ministry: Oil prices may return to $40 level

Oil prices may return to the level of around $ 40 per barrel in the medium term, director of the revenue department of the Russian Finance Ministry Yelena Lebedinskaya said. "In principle, we expect that we will …

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 plans to buy FX bypassing Central Bank

Russian finance ministry plans to buy FX bypassing Central Bank

The treasury - which is a part of the Russian finance ministry - may start independently buying foreign currency on the market without the central bank involvement from 2018, the head of the treasury, Roman Artyukhin, …

Russian finance minister on scrapping oil export duty

Russian finance minister on scrapping oil export duty

Russian finance minister Anton Siluanov proposed scrapping the country's oil export duty from 2022-2025 as the government looks to optimise the tax system for the oil and gas industry. Speaking at an economic …

 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.

Russia#039s reserve fund declines to $16.07 billion over February

Russia's reserve fund declines to $16.07 billion over February

Russia's Reserve Fund declined slightly to $16.07 billion by March 1 from $16.18 billion at the start of the previous month, Russia's finance ministry data showed. The Reserve Fund, which was accumulated over years of high oil …

Are Russians interested in Finance Ministry#039s OFZ bonds?

Are Russians interested in Finance Ministry's OFZ bonds?

The project of issuing "people's" OFZ bonds, announced by Russia's Ministry of Finance on Monday, raises a lot of questions and looks fishy rather than appealing for the public, economists Sergey Hestanov and …

Will cash payments to be limited in Russia?

Will cash payments to be limited in Russia?

The Russian Ministry of Finance and the Ministry of Economic Development are discussing plans to limit cash payments in a bid to combat Russia’s “shadow economy.” The new measures could include a ban on …

Russia’s Economic Development and Finance ministries agree to raise VAT

Russia’s Economic Development and Finance ministries agree to raise VAT

Russia’s Economic Development and Finance Ministries have agreed that they will have to cut taxation of labor and compensate budget losses by higher indirect taxes like value-added tax (VAT) in order to support the economy, Vedomosti …

Will Russian economy start to grow?

Will Russian economy start to grow?

Russia's economy may grow 1.1% this year and 1.5% next after contracting in 2016, a Bloomberg survey of 39 economists shows. Earlier, Economy Minister Maxim Oreshkin said that Russia's economy could …

Russia expects three more years of cheap oil prices

Russia expects three more years of cheap oil prices

Oil prices will be hovering around $40-60 per barrel in 2017-2019, the Russian Finance Ministry’s Main guidelines for 2017-2019 debt policy said. "The oil price dynamics will still be one of the key risks for the Russian …

Russian finance ministry announces volume of currency purchase operations

Russian finance ministry announces volume of currency purchase operations

The Russian central bank will buy the equivalent of 6.3 billion rubles ($106 million at current market prices) a day on the Moscow Exchange this month to replenish the country's fiscal reserves, the Russian finance ministry said. …

Dollar back at 60

Dollar back at 60

Today during trades on the Moscow Stock Exchange the dollar passed psychological barrier of 60 rubles per $1. For some time the US currency drifted around 59,9-60,05 rubles per $1, but then went up, gaining almost 1 ruble since trades …

Russia may place $3 bln in Eurobonds in spring

Russia may place $3 bln in Eurobonds in spring

Russia may place $3 billion worth of Eurobonds this spring in a single issue, Finance Minister Anton Siluanov told reporters on Wednesday, Reuters reported. Siluanov said the government had decided not to use additional …

Russia to increase export duty on oil by $10

Russia to increase export duty on oil by $10

According to the Russian Finance Ministry estimates, export duty on oil in Russia will increase by $10.4 dollars and will reach $89.5 per tonne from February 1, 2017. Currently, the export duty on crude oil totals $79.1 per tonne. …

Russian Finance Ministry proposes to create unified economic policy document

Russian Finance Ministry proposes to create unified economic policy document

Russia can create a unified document on economic policy, this initiative was proposed by Russian Finance Minister Anton Siluanov at the Gaidar forum. Siluanov made this proposal responding to the question of head of …

Financial officials discuss model of Russia#039s economy growth (VIDEO)

Financial officials discuss model of Russia's economy growth (VIDEO)

Видео

A panel discussion on 'the model of sustainable economic growth for Russia' is being held in the framework of the 8th Gaidar Forum in Moscow. It was opened by an address of the chairman of the Board of the Center for Strategic Research, …

Russian Finance Ministry discusses assets for privatization in 2017

Russian Finance Ministry discusses assets for privatization in 2017

The Russian government is considering additional assets that may be privatized in 2017, the Finance Minister Anton Siluanov said. "[Our planned privatization revenues next year] amount to 138 bln rubles ($2.3 bln) …

Does Russian Finance Ministry reject progressive personal income tax scale?

Does Russian Finance Ministry reject progressive personal income tax scale?

Russia should not consider the introduction of a progressive personal income tax scale in the coming years, the Russian Finance Minister Anton Siluanov said at the congress of the Russian Union of Industrialists and …

Progressive personal income tax scale to be implemented in Russia

Progressive personal income tax scale to be implemented in Russia

The Russian government is considering a progressive personal income tax scale, the Russian Deputy Prime Minister Olga Golodets said. “I think that in order to alleviate poverty, an income tax exemption on the …

Draft budget submitted to Russia#039s State Duma

Draft budget submitted to Russia's State Duma

Russian Finance Minister Anton Siluanov has presented a draft budget for 2017 and the planned period of 2018-2019 at the plenary session of the State Duma. According to the draft, budget revenues will be 13.487 trillion …

Russian State Duma amendments budget

Russian State Duma amendments budget

Budget amendments for 2016 have passed their second reading in Russia’s State Duma.  The draft amendments imply an increase of Russia’s 2016 federal budget deficit to 3 trillion rubles ($47.2 bln), or 3.7% of GDP. …

Russia#039s Cabinet to fill budget at expense of employers

Russia's Cabinet to fill budget at expense of employers

The insurance contribution rate will be increased to 30.8% in Russia from 2019. The corresponding decision was taken by the Russian government, the Economic Development Minister, Aleksey Ulyukayev, said. "I …

 Russia#039s budget to remain social

Russia's budget to remain social

Prime Minister of the Russian Federation Dmitry Medvedev said at the meeting with President Vladimir Putin that the government deliberately based its budget for 2017-2019 on the oil price of $40 per …

 Russian Finance Ministry: non-oil and gas budget revenues to increase

Russian Finance Ministry: non-oil and gas budget revenues to increase

Russia’s Finance Ministry expects non-oil and gas revenues to rise by almost 900 bln rubles ($14.2 bln) in 2016 owing to the purchase of Rosneft stake, the Russian Finance Minister Anton Siluanov said. "We …

Russian Finance Ministry preparing #039tax winter#039

Russian Finance Ministry preparing 'tax winter'

Russian Finance Ministry will propose the government to maintain the rate of income and other taxes at current levels for the next few years, the department said in the draft of 'the main directions of tax policy for 2017-2019', …