Russian economy

20th anniversary of Russia's 1998 default

Twenty years ago, on August 17, 1998, Russia announced a technical default on main types of sovereign debt securities to the amount about $72.7 million.  One of the main reasons of crisis was the oil price collapse to $9.1 per …

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 …

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 …

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 …

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 …