Russian economy

Russia's VAT rate hike bill passed in second reading

Russia’s State Duma passed the bill on raising value-added tax (VAT) to 20% from 18%, starting from 2019, in the second reading today.  The insurance contributions are currently paid in full at a rate of 30% for an …

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Hungary denounces anti-Russian sanctions

Russian President Vladimir Putin met with Hungarian Prime Minister Viktor Orban in Moscow on Sunday. Orban denounced European Union sanctions imposed on Russia. "Because of these measures …

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Putin assesses Russia's macroeconomic situation

Russian President Vladimir Putin noted surfaced positive trends of key economic indicators. He gave such an assessment during the meeting on economic issues on yesterday. "I would like to note that the …

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Russia to earn 100 trillion rubles

Russia’s Economic Development Ministry revised its economic forecast. It was presented by Economy Minister Maxim Oreshkin at the State Duma meeting nu budget and taxes. Russia’s gross domestic product was …

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Russia runs budget surplus

The Russian government approved the draft amendment to the the bill on federal budget for 2018 and the planned period of 2019-2020. Information about this is published on the website of the Cabinet. "The draft law provides for …

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Russia's inflation outlook may be revised

Russia’s Central Bank plans to revise inflation outlook for 2018 in early June, the bank's First Deputy Chairperson Kseniya Yudaeva said. She noted that Russia's inflation has stabilized at the level …

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Moody's: Russian economy resilient to US sanctions

Rating agency Moody’s Investors Service said that Russia’s strong public and external finances would shield its economy from the impact of the latest US sanctions. However, according to the agency, the sanctions will be …

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