Russian economy

Economic optimism prevails in Russia

Economic optimism prevails in Russia

The share of Russians expecting economic stabilization in the near future increased to 32.4% in March, according to the results of the RANEPA survey, the Izvestia newspaper reported. In March 2015, it was expected by 24% of respondents, …

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 …

Russian Central Bank ready to reduce key rate this year

Russian Central Bank ready to reduce key rate this year

The Russian Central Bank may cut the key rate by 25 or 50 basis points in the second quarter of this year, the bank's governor Elvira Nabiullina said. "On the whole the current economic situation inspires hope. …

IMF lowers forecast on Russia#039s government debt

IMF lowers forecast on Russia's government debt

The International Monetary Fund (IMF) has lowered the forecast on Russia's government debt against GDP in 2017 by 2,3 percentage points, to 17,1%. At the same time, it's specified that the forecast for 2018 is lowered by 3,3 …

 Russian Prime Minister addresses Parliament on 2016 results

Russian Prime Minister addresses Parliament on 2016 results

Russian Prime Minister Dmitry Medvedev said in an annual report to the lower house of parliament that 2016 was "the year of realized opportunities". "The last year was very important for us," he …

 Russia to be third largest supplier of goods to EU market

Russia to be third largest supplier of goods to EU market

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Russia's economy will grow by 1.2% this year and by 1.8% next year

IMF improves outlook for Russia#039s economic growth

IMF improves outlook for Russia's economic growth

The International Monetary Fund revised upward its outlook for Russia. The IMF now expects the Russian economy will grow by 1.4% in each of 2017 and 2018, informed sources in the Fund said. Such figures are in the new forecasting and …

Ziyad Samedzade: strong Russian-Azerbaijani ties strengthen peace in region

Ziyad Samedzade: strong Russian-Azerbaijani ties strengthen peace in region

Friendly relations between Russia and Azerbaijan not only meet the interests of Moscow and Baku, but also contribute to the consolidation of peace in the region, the chairman of the Parliamentary Committee for Economic Policy, Industry and …

 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 Central Bank Chief predicts economic growth in Russia

Russian Central Bank Chief predicts economic growth in Russia

Russia’s economic growth rates will stabilize at the level of 1.5-2% even if the oil price goes down, Russia's Central Bank Chief Elvira Nabiullina said. "The potential economic growth amount to 1.5-2% if …

 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 …

Russia’s Central Bank chief: recovery of banking system to take 2-3 years

Russia’s Central Bank chief: recovery of banking system to take 2-3 years

The recovery of Russia’s banking system will take 2-3 years, the Russian Central Bank’s chief Elvira Nabiullina said. "The key priority for the Bank of Russia is to get rid of unscrupulous, …

Vasily Yakimkin: Expensive ruble is not a problem

Vasily Yakimkin: "Expensive ruble is not a problem"

Can overpriced ruble hurt Russian economy?

 Territory of advanced development to be created in Dagestan

Territory of advanced development to be created in Dagestan

The territory of advanced development 'Kaspiysk' will be created in Dagestan. The relevant decree was signed by the Russian Prime Minister Dmitry Medvedev. The prime minister said at a meeting with vice prime …

Ministry of Economic Development: Russian-Iranian trade turnover doubled

Ministry of Economic Development: Russian-Iranian trade turnover doubled

The year-on-year trade turnover between Russia and Iran almost doubled in January 2017, exceeding $155 million, the Russian Ministry of Economic Development said. "The Russian-Iranian trade turnover in January 2017 increased by 98% …

Russia#039s central bank head: we plan to cut key rate gradually, pauses possible

Russia's central bank head: we plan to cut key rate gradually, pauses possible

Russia's central bank would cut its key rate gradually, the banks' Governor Elvira Nabiullina said. The bank would cut rates gradually in the medium term and pauses between cuts are possible, Nabiullina …

Oreshkin: Russian government economic efforts to speed interest rate cuts

Oreshkin: Russian government economic efforts to speed interest rate cuts

The Russian government's work to create a predictable economic environment should help bring forward more interest rate cuts, the country's economy minister Maxim Oreshkin said. He was commenting after the …

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 …

 Will Russia be saved by larger minimum wage?

Will Russia be saved by larger minimum wage?

Russia's Deputy Prime Minister Olga Golodets asked the country's Vladimir Putin to ask authorities with raising the minimum wage today at a meeting of the Presidential Council on Strategic …

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

Fed rate increase will not cause capital outflow from Russia, Minister of Finance says

Fed rate increase will not cause capital outflow from Russia, Minister of Finance says

A rise in the US Fed rate will not cause the problems with the outflow of capital from Russia, Finance Minister Anton Siluanov said. "Despite the fact that American colleagues from the Federal Reserve announced raising of the rates …

EU Turmoil Makes Russia the Sanctioned Bond Market Traders Love

EU Turmoil Makes Russia the Sanctioned Bond Market Traders Love

The political turbulence roiling the European Union is making Russia look like a safe bet to bondholders

Iran to pay oil for Russian goods

Iran to pay oil for Russian goods

Iran is ready to make an agreement on supplies of 100,000 barrels of crude oil per day to Russia within the next 10-15 days, Iran’s Minister of Communications and Information Technology Mahmoud Vaezi said at a meeting with …

 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 …

Turkey ready for trade in national currencies with Russia

Turkey ready for trade in national currencies with Russia

Turkey hopes to sign an agreement on trade in national currencies with Russia during the visit of Turkish President Recep Tayyip Erdogan to Moscow on March 10, Turkish Minister of Economy Nihat Zeybekci said …

Medvedev says expects Ruissa#039s economy to grow 1-2% in 2017

Medvedev says expects Ruissa's economy to grow 1-2% in 2017

Russian economy has begun growing and the 2017 growth is expected to reach 1-2 percent, while the government is working on an action plan to bring the growth up to 3 percent and more, Prime Minister Dmitry Medvedev said Saturday, …

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 …

Rosneft to sell  Grozneftegas oil assets to Chechnya

Rosneft to sell Grozneftegas oil assets to Chechnya

Russian oil giant Rosneft could be preparing to sell its assets in the Chechen republic to local authorities. The proposals include selling a 51% share in the company's Chechen subsidiary Grozneftegas to the regional government, the …

Austrian Chancellor calls on EU to soften sanctions against Russia

Austrian Chancellor calls on EU to soften sanctions against Russia

Chancellor of Austria, Christian Kern, made an appeal to review the sanctions against Russia. According to him, such measures have not led to an improvement in the situation on the key contentious issues, Bloomberg reports. The EU must …