Russian economy

Belarus to have common currency with Russia?

Belarusian President Alexander Lukashenko supported creating of a common currency with Russia. "It will not be the Russian or Belarusian ruble, it will be our common ruble," the Belarusian had of state said …

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Kudrin: Russia at level of G7 countries of 80s

Russia's labor productivity lags 40 years behind those of developed economies. This level is close to Brazil's level and three times below the level of the U.S., head of the Russian Accounts Chamber Alexei …

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Forecasts for ruble’s exchange rate worsened

Russia’s top bank Sberbank has worsened its forecasts for the ruble’s average annual exchange rate against the U.S. dollar for 2019–2020. The bank worsened the rate for 2019 to 68.5 rubles per U.S. dollar and for 2020 …

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Four key risks to Russian Economy revealed

Moody's Investors Service has released a comprehensive report on the Russian economy, analyzing its capabilities and key risks in the medium term. The Agency's analysts estimate the share of the public sector in the Russian …

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Russia’s shadow economy totals 20 trillion rubles

The size of Russia’s shadow economy was equal to 20% of the GDP in 2018, according to the Rosfinmonitoring state financial watchdog. The watchdog recorded 20.7 trillion rubles ($315.9 billion) in undeclared imports and income …

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Vladimir Putin delivers State of Nation Address

Russian President Vladimir Putin is delivering his annual Presidential Address to Federal Assembly legislators in Moscow today. In his address, the president assesses the state of affairs throughout the country and sets the main …

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Oreshkin names condition of ruble’s stability

The ruble exchange rate will remain stable if the oil prices are $ 40 per barrel and more, Russian Economic Development and Trade Minister Maxim Oreshkin said. In addition, the Minister also pointed out that in the long term, the rate …

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Fitch affirms Russia at 'BBB-'

Fitch Ratings on Friday affirmed Russia’s credit rating at ‘BBB-‘ citing a strong sovereign balance sheet and robust external finances, Reuters reports. “The ‍prospect of harsher additional US sanctions …

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Moody's upgrades Russia's rating

Global ratings agency Moody's has upgraded Russia's rating to Baa3 with a stable outlook. Moody's said in a report that Russia's rating was upgraded from Ba1 to Baa3, while the outlook was changed from positive to …

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Bank of Russia keeps key rate at 7.75%

The Bank of Russia Board of Directors decided to keep the key rate at 7.75% per annum, the regulator said in a press release.  When grounding its decision the regulator noted that in January 2019, annual inflation held at the lower …

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How to boost your pension in Russia?

Russia's Pension Fund has published recommendations for residents of the country how to boost their pension, according to the Rossiyskaya Gazeta newspaper. "The first rule is official employment," the article says. …

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