The law on increasing the personal income tax rate (PIT) from 13% to 15% on income exceeding five million rubles a year was introduced in Russia. Simultaneously, the tax rate of 13% will remain for individuals' income from the sale …
Kremlin Spokesman Dmitry Peskov has listed economic issues and a rise in poverty among the main challenges of 2020, he said in an interview with the RTVI channel. When asked about the main challenges of the year besides the coronavirus, …
Head of the Russian Central Bank Elvira Nabiullina said that not everyone in Russia is interested in a strong national currency. She stands for the ruble "which is determined by the market," according to RTVI. …
Russia’s foreign exchange holdings rose by over one percent in one week to reach a total of $593.6 billion, according to the latest central bank data, RT reports. The growth seen between December 11 to December 18 was supported …
The meeting of Russia's State Council was held today, during which its chairman, Russian President Vladimir Putin, set tasks for the executive branch for 2021. First of all, Vladimir Putin stressed that the coronavirus …
Chairman of the Board of Directors at Alfa Banking Group Petr Aven believes the last years in Russia have been lost in terms of economic growth. According to him, insufficient investment has led to a lack of economic growth. In …
At its last meeting this year, the Bank of Russia decided to once again retain the key rate at 4.25% per annum, according to the regulator’s press release. It indicates a more significant and lasting impact of one-off …
The economic situation in Russia is deteriorating, President Vladimir Putin said at a meeting on economic issues on Wednesday, TASS reports. According to him, people’s incomes have fallen, the labor market is under pressure and …
Russia’s economy ministry said on Friday that it expected inflation in Russia to reach 4.6-4.8% in 2020 year-on-year and 0.6-0.7% in December, compared to the previous month, Reuters reports. “Stabilization (in) the foreign …
Russia’s central bank kept its key interest rate at 4.25% on Friday following a weakening in the rouble ahead of the U.S. presidential election, but said a rate cut was still possible in the coming months. The decision to keep the …
According to the forecast of the Ministry of Economic Development of the Russian Federation for 2021-2023, the recovery of the county’s economy may face two main challenges. The department called the recession in the global …
Russia's government debt will reach 21.3% of GDP by the end of 2023, RBC writes, citing to an explanatory note to the draft federal budget for 2021 and the planning period of 2022 and 2023. It is specified that the reason for this …
One of the discussed socio-economic topics this week was the initiative of Dmitry Medvedev, deputy head of the Russian Security Council, chairman of the United Russia party, to introduce a minimum guaranteed income for all citizens in Russia. …
Russia needs GDP growth rates two to three times higher than those laid down in the economic recovery plan (2-2.5%), otherwise stagnation cannot be avoided, Sergei Grishunin, managing director of the rating service of the National Rating Agency, …
The recovery of Russia's economy following a sharp fall in the first half of the year is progressing in line with forecasts, Russian Central Bank Governor Elvira Nabiullina said on Thursday, Sputnik reports. "For the past few …
Russia's energy giant Gazprom announced that net profit fell 25-fold in the first half of 2020 due to the economic crisis triggered by the coronavirus pandemic and low oil and gas prices. The state-controlled group posted a net …
Russia’s gross domestic product (GDP) contracted by 3.6% in January–June, the Federal State Statistics Service said on a statement quoting preliminary data. On August 11, the service said that preliminary estimates showed …
Fitch Ratings has maintained Russia’s investment grade level with a stable outlook, becoming the second of the “Big Three” credit rating agencies to keep the country’s overview intact amid the coronavirus crisis. …
Russian President Vladimir Putin in his message to the nation, thanking the country's citizens for the dignity they demonstrated during the most dangerous stage of the COVID-19 epidemic. "Just three months have passed. …
No final decisions have yet been made to change the personal income tax rate, its increase for wealthy Russians is one of the topics under discussion, Presidential spokesman Dmitry Peskov told reporters on Thursday, TASS reports. …
