Yuri Yudenkov

Is new crisis in Russia only year and a half away?

Russia's next economic crisis may erupt in the next year and a half, according to experts of the Centre for Business Tendencies Studies at ISSEK NRU HSE. "If the trade war between the two largest economies in the …

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Russian Central Bank's cautious rate cuts continue

The board of directors of Russia's Central Bank has cut its key rate today by 25 bp to 7.25% per annum. "Inflation slowdown is continuing. At the same time, inflation expectations remain elevated. Russian economy’s growth …

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Russia's business depression continues

Seventy nine percent of entrepreneurs believe that there are unfavorable conditions for doing business in Russia now, according to the results of the poll conducted by the All-Russian Public Opinion Research Center (VCIOM). The poll …

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Russia's shadow economy employs 15 million people

Russian Deputy Prime Minister Tatyana Golikova said that about 15 million Russian people are employed in the shadow economy. "According to the latest data, their number reached 15 million people," TASS cited …

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Does Russian business suffer from nihilism?

Russian First Deputy Prime Minister and Finance Minister Anton Siluanov believes that Russian business does not want to see positive changes in public administration and the economy, and, having record profits, believes that …

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Russia's trade turnover with U.S. grows by 24%

The trade turnover between Russia and the United States in January-March totaled $5977 billion, amounting to an increase of  24%, the Russian Federal Customs Service said. Exports from Russia to the U.S. amounted to $2.686 billion, …

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U.S. dollar weakening predicted

The U.S. dollar exchange rate against a basket of major currencies may drop by 6% by the end of 2019, according to Morgan Stanley experts. They expect the U.S. currency will depreciate because of the U.S .economic slowdown and the Federal …

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Russia borrows record amount in the West

Global Head of Debt Capital Markets at VTB Capital Andrey Solovyev said investors from the United Kingdom, the United States and Russia were the main buyers of dollar-denominated and euro-denominated Russian Eurobonds. …

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Russians cannot get out of debt?

The Russians scored a record number of loans in 2018. The average debt burden of Russian families increased from 22% to 27%.  Russian people's current total debt is 14.86 trillion rubles. According to the …

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Russia loses $6.3bln due to sanctions

Various restrictions, including economic sanctions, introduced by other countries cost Russia $6.3 billion by late 2018, according to the estimates presented by the Russian Economic Development Ministry. These restrictions include …

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U.S. national debt rises to astronomical level

The U.S. national debt for the first time ever crossed the $22 trillion mark, Treasury Department data revealed, noting that the latest figure represents a jump of more than $30 billion from where the balance stood at the beginning of …

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Bank secrecy to be abolished in Russia?

Russia's Federal Antimonopoly Service intends to obtain a legal basis for accessing financial information on bank accounts, deputy head of FAS Anti-Cartel Department Dmitry Artyushenko said. He stressed that …

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Russia launches its own SEPA

Instant Payment System (IPS) is to be launched in Russia on January 28, 2019, Director of the National Payment System Department of the Bank of Russia Alla Bakina said at the system's presentation. Bakina noted …

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