Russian economy

Russia raises 2021 inflation forecast to 7.4%

Russia has raised its 2021 inflation forecast to 7.4% from 5.8%, the economy minister said on Tuesday, adding to pressure on the central bank to raise interest rates for the sixth time this year at its rate-setting meeting next week. …

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Gas prices in Europe above $1,900

Natural gas prices in Europe increased dramatically to over $1,900 per 1,000 cubic meters in early hours of the trading session on Wednesday, according to ICE data.

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Bank of Russia increases key rate to 6.75% per annum

Russia’s Central Bank has again raised its key rate - by 0.25 percentage points to 6.75%, noting that it holds open the prospect of further key rate rises at its upcoming meetings, according to the press release following they key rate …

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Russia to produce 506 mln tonnes of oil in 2021

The volume of oil production in Russia at the end of 2021, subject to OPEC + restrictions, may reach 506 mln tons, which is 1% less than in 2020, Russian Energy Minister Nikolai Shulginov told reporters on Thursday on the sidelines of the sixth …

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Putin: economic life recovers and goes back to normal

Economic life is recovering from the pandemic and is returning to business as usual, Russian President Vladimir Putin at the plenary session of the Eastern Economic Forum. "Such a broad representation and interest in the …

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Russia’s public debt exceeds 20 trillion

Russia’s public debt increased by 1.48 trillion rubles for the first half of 2021 and amounted to 20.4 trillion rubles, the Accounts Chamber said in its report on execution of the federal budget for January-June 2021.  …

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Russia to get $18 bln of IMF reserves in SDR allocation

Russia will receive about $18 billion worth of reserves from the International Monetary Fund (IMF) on Monday which will help ease an acute economic situation in the country, RBC reported. The IMF will distribute about $650 billion in …

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Russian-Iranian trade turnover grew 1.4 times

The trade turnover between Russia and Iran in the first six months of this year increased by 39.9% compared to the same period last year,  the trade mission of the Russian Federation in Iran informs, citing data from the Federal Customs …

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IMF: Russian economy recovering quicker than expected

The Russian economy is recovering from the consequences of the COVID-19 pandemic at a quicker pace than expected, IMF Chief Economist Gita Gopinath said at a special briefing on Tuesday. "In the case of Russia, we have seen faster …

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Russia raises GDP growth outlook

The Russian Ministry of Economic Development and Trade has raised its forecast for the growth of the country’s economy in 2021, despite new administrative restrictions on business activity due to the third wave of the pandemic. …

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