Add to favorite
Tags: Russian economy


Taxes, Benefits, Rewards: New Laws and Programs for Business Come into Force in 2021
On January 1, 2021, a law on reducing the rate of insurance premiums and income tax for IT companies came into force in Russia. At the same time, the excise tax on tobacco products increased to replenish the budget. In addition, the tax on interest on bank deposits above 1 million rubles and an increase in the personal income tax rate to 15% for citizens who earn more than 5 million rubles a year should bring additional income to the treasury.
The Worst is Yet to Come: Deutsche Bank Predicts Further Weakening of the Ruble Due to Navalny and the US Elections
Deutsche Bank analysts do not rule out that the worst for the ruble in 2020 is yet to come. In the short term, the main risks for the ruble are the aggravation of the geopolitical confrontation between Moscow and the West over the situation with Alexei Navalny and the possible victory of the Democrats in the November US elections.
Central Bank: Scenarios and Risks for the Russian Economy
The Bank of Russia presented four scenarios for the development of the Russian economy in 2021-2023: the baseline and three alternative ones, reflecting possible risks. The scenarios are contained in the draft Guidelines for the unified state monetary policy.
Why Investments are not Growing in Russia: Chinese Recipe for Acceleration
Now the main source of financing for investments in fixed assets in Russia is companies' own funds. This limits investment opportunities. To solve the ambitious task of accelerating investment growth, it is necessary, first of all, to increase the availability of borrowed funds for business. The Chinese experience clearly confirms this.
"Young and Old have Suffered": Russian Business has Experienced the Strongest Drop in Profits
The record holder in terms of losses was the Moscow business that lost 85 billion rubles, while the Altai business showed the highest profit growth.
Russia's Economy has Experienced the Biggest Collapse since 2009
The Russian economy, amid the coronavirus pandemic, fell at its fastest pace since the 2008-2009 crisis.
Protecting Russia from the Collapse of Oil Prices Following the Mexican Scheme
Despite the fact that the prices for Urals oil are kept in the corridor of $ 40-45 per barrel, this is not very optimistic. Firstly, this level is still on the verge of a deficit-free budget. Secondly, the ghost of the second wave of coronavirus is walking both in Europe and in the whole world.
Russian Economy will Need Four Years to Recover from the Crisis
The world economy will be able to return to pre-crisis levels in 2022, while the Russian economy - only in 2024, analysts of the Economist Intelligence Unit (EIU) predict. Recovery will be hampered by low raw materials prices, experts warn.
Russia and OPEC Agreed to Increase Production. What will Happen to Oil Prices and the Ruble?
Saudi Arabia, Russia and other OPEC + countries have agreed to increase oil production from August to avoid the risk of shortages and maintain price stability amid recovery in demand. However, due to the countries that have exceeded their production quotas in May and June, production will not grow as much as expected.
How Pandemic Changed Investment Banking and Investor Perceptions of the Russian Market
Before the pandemic, Russian companies and investors in the Russian economy had to reckon with a number of factors, for example, a rather stringent sanctions regime against a number of companies and the risks of its tightening. And at the beginning of this year, investors received a very unpleasant surprise in the form of a pandemic and a sharp drop in demand and world prices for hydrocarbons and other commodities, which in turn hit the key sectors of the economy very significantly.
Bloomberg Predicts a Reduction in the Income of Russians to the Level of 2006
This quarter, the real disposable income of Russians will decline to a level unprecedented since 2006, Bloomberg writes.
Russian Oil Market Crisis: Prices will Remain Low
The intentions announced on April 12-13, 2020 by the OPEC + G20 countries to reduce oil production should have unfolded the dynamics of prices in the world market for growth. However, it became clear that the expected effect did not work. In the foreseeable future, oil prices will remain low.
Unprecedented Oil Crisis: onsequences of the Price War between Saudi Arabia and Russia
The coronavirus epidemic has led to an unprecedented drop in demand for raw materials and a collapse in quotations. In a world where everything has stopped, the price of oil is likely to move in only one direction - down.
The Price of Pandemic: How Much Russia will Lose Due to Coronavirus
The Russian economy, like many other economies in the world, is already infected with the coronavirus. But unlike many, ours was also struck by the price war virus in the oil market.
New Measures to Support Business and the Public in Russia during Pandemic
Small and medium-sized businesses will receive tax and insurance premium deferrals for six months and will be able to restructure the debts accumulated during the crisis.
Moscow Quarantine: Possible Consequences
A quarantine week in Moscow costs the citys economy 75-112 billion rubles. The regime of restrictions kills the projected economic growth for this year and negatively affects the income level of Muscovites. If quarantine lasts longer than two or three weeks, the capital may face a surge in unemployment.
The US is Thinking about New Sanctions against Russia because of the Collapse in Oil Prices
The White House could intervene in the oil war of Saudi Arabia and Russia.
Fitch has Announced the Risks for the New Russian Government
The new Russian government is empowered to implement national projects in a more efficient way, as Fitch Ratings agency said. However, due to the inability to raise real income, the cabinet of ministers may experience social pressure, as the experts warn.
For the First Time in Eight Years Russia will Change the Grounds for Blocking Bank Accounts
For the first time in eight years, the Central Bank will change the criteria for suspicious transactions that could lead to account blocking. In particular, the Central Bank proposes to revise the general approaches to determining the doubtfulness of banking operations.
Two-thirds of Brokerage Accounts Opened by Russians are Empty
A record inflow of population to the stock market did not lead to the same increase in investment - two-thirds of Russian brokerage accounts are empty. Brokers claim that it is the natural result of the explosive growth of open accounts after falling bank rates.
Two-thirds of Brokerage Accounts Opened by Russians are Empty
A record inflow of population to the stock market did not lead to the same increase in investment - two-thirds of Russian brokerage accounts are empty. Brokers claim that it is the natural result of the explosive growth of open accounts after falling bank rates.
The Worst Russian Regions in Terms of Quality of Life
The worst regions in terms of quality of life in 2019 were Tuva, Karachay-Cherkessia and the Jewish Autonomous Region.
Significant Risks in the Russian Financial System
The Accounts Chamber announced significant risks inherent in the Russian financial market. Based on the results of the audit of the Central Bank, auditors recognized that the development of the country's financial market is not comparable to the scale of its economy.
Russian Currency Fell on News of the Rapid Spread of the Coronavirus
The situation with the spread of coronavirus is worsening in China. There are already 80 victims, the number of infections is 2804. Markets are responding to the spread of the virus: oil is getting cheaper, stock indices are falling, the ruble is weakening, and the prices of assets that are traditionally considered defensive are rising.
Transparency International: Annual Report on the Level of Corruption
Transparency International has published an annual report on the level of corruption in different countries of the world. Russia is next to Liberia, Paraguay and Uganda.
Moscow Exchange Reported a Record Influx of New Investors
The number of private investors on the Moscow Exchange doubled amid falling bank rates and the development of brokerage applications. This is a record inflow, although Russia is still far behind foreign countries.
Russian Banks in 2020
The banking market remains very dynamic in Russia: regulation is changing, the business model is changing, even the principles of corporate governance are changing. Here are seven trends that will determine the banking market in the coming year.
Global Cataclysms that will Hit Russia and the Ruble in the New Year
Donald Trump, recession in Europe, US elections and instability in Latin America these are the main risks, according to economists, that Russia and the ruble may face in 2020.
Tens of Billions Spent on Supporting Small Businesses in Russia were Wasted
For four years, the Russian state spent 80 billion rubles to support small business, but the effect is not obvious. It is more profitable for small entrepreneurs to take a loan from a bank on market conditions than to apply for state support.
Migration of Billions: Main Transactions of Russian Businessmen in 2019 Took Place Outside the Country
Perhaps the main outcome of 2019 is that the most interesting transactions and investments with the participation of Russian businessmen were in no way connected with Russian assets.
Story of Lukoil's Success: Company's Shares are Growing for the Third Year in a Row
The largest Russian private oil company Lukoil F 1 is growing rapidly for the third year in a row - the rally that started in mid-2017 continues.
Population Decline in Russia will be Record High
The natural population decline in Russia in 2019 will be a record high for the past 11 years.
Russians Change Investments Habits
Brokers noticed a twofold increase in the share of investors with small savings on the exchange.
How Millennials and Boomers Evaluate Changes in Russian Business
In the 90s, businessmen were afraid of bandits, now - the state.
Yuan for a Rainy Day: the Dedollarization of the NWF
In the medium term, the changes in the currency structure of the NWF proposed by the Ministry of Finance look reasonable, however, the desynchronization of reserves with the currency liabilities of the financial system will weaken their anti-crisis function.
Redistribution Instead of a Breakthrough: Why Counter-sanctions Doom Russia to Technological Lag
The model of external threats and maximum import substitution may stimulate the growth of some Russian industries, but the question is at what cost will it be possible to build a self-sufficient economy in the context of globalization?
Bloomberg Estimates Russia's Losses from De-dollarization of Reserves
Russia lost almost $ 8 billion in potential revenue during the first year after a decline in the dollars share of international reserves, Bloomberg claims. While the Central Bank invested in cheaper euro and yuan, the American currency went up in price.
Maximum Tax Increase is Planned for Small Business in Russia
The Ministry of Economic Development has prepared the maximum tax increase for small business.
Bloomberg: Demand for Russian Oil is Growing
US sanctions against Iran and Venezuela have resulted in an increase in demand for Russian crude oil.
Quiet Haven for Business. 10 Most Suitable Countries for Russian Companies
Cyprus, Luxembourg and Singapore topped the ranking of the best countries for Russian business, compiled by UFG Wealth Management and Confideri family office.
Private Companies Growing by 150-250% Per Year in Russia
The growth rate of the Russian economy in 2018 reached a record for six years, 2.3%, despite the tightening of international sanctions and pressure on financial markets.
Russian Businessmen Entered the Top 5 in Terms of Wealth Growth in the World Ranking
This is evidenced by the Forbes Real Time rating data. It tracks the change in capital of the richest people on the planet and is updated in real time.
Protection From Account Blocking and Fast Customs Clearance: How the Ministry of Economy is Going to Improve the Business Climate
The Ministry of Economic Development has supplemented a plan to transform the business climate in Russia.
Organic Agriculture in Russia
Organic agriculture, also known as biological or ecological agriculture, is a global trend that is practiced in 180 countries of the world, including Russia. The main task of organic agriculture is to be as natural as possible, ethical in relation to nature.
P2P Financing in Russia
The search of financing is one of the key issues in business. Bank requirements are becoming tougher, the rates are growing, refusals are received all the more often. Against the backdrop of all these processes, the business is constantly looking for alternative sources of financing. There exist the following types of p2p financing.
The Investment Activity of Russian Companies
The researchers note that the reason for the investment activity slowdown was a lack of resources: the net financial result of Russian companies in January-May 2019 increased by 36.5%, and the annual growth rate of funds on rouble deposits reached a local maximum and exceeded 30% against the background of high rates of enterprises.
S&P Assessed the Impact of New US Sanctions on Russia's Creditworthiness
New US sanctions will not affect Russia's creditworthiness, S&P analysts say. At the same time, they do not exclude the risk of introducing more stringent restrictions by Washington.
The Ministry of Finance Came up with New Ways to Return Capital from Abroad
The Ministry of Finance is looking for new ways to return to Russia the money that Russian business leaves abroad. The Office proposes to change the rules for applying tax benefits and update the criteria for recognition of a person as a tax resident of Russia.
Subsidies for Franchisees in Moscow
New measures have been introduced to support franchising in small and medium-sized businesses in Moscow.
Sanctions War: Who Benefits from the Food Embargo
Five years ago, Russia imposed retaliatory sanctions against the countries of the European Union, the USA, Canada, Australia, and Norway.
Russia's Switching to Euro. The Process of De-dollarization in the Foreign Trade
Amid the desire to reduce dependence on the dollar, the share of settlements with major foreign trade partners in euros is growing significantly.
Bloomberg: Russia will Bypass Saudi Arabia in Gold and Foreign Exchange Reserves
For the first time in eight years, Russia can enter the list of four countries with the largest foreign exchange reserves, Bloomberg predicts. This may become a lever of pressure on OPEC countries.
The Flexibility of the Ruble and Low Public Debt. Fitch Upgrades Russia
The international rating agency Fitch upgraded Russia's long-term foreign currency credit rating BBB- to BBB with a stable outlook due to the reliable and consistent policy.
Power and Money Ranking - a List of the 100 Richest Civil Servants and Deputies of Russia
Forbes magazine presents the traditional Power and Money ranking - a list of the 100 richest civil servants and deputies of Russia, according to the results of the 2019 declaration campaign. The cumulative income of the participants in the Power and Money 2019 ranking by Forbes made up approximately 71 billion roubles.
The Shadow Segment of the Luxury Goods Market
The annual turnover of the shadow segment of the luxury goods market made up 280 billion roubles, whereas the legal segment is estimated at about 250 billion roubles. Against the background of the continuing decline in household incomes, the sales of fashion brand replicas in the high price segment will only grow, at the same time, fake vendors will move online.
The Most Profitable Russian Franchises - 2019
Forbes Magazine has published the ranking of the most profitable franchises of Russia for the year 2019. The ranking was divided into three parts: Investments of 5-25 million roubles, Investments of 15 million roubles and Investments of up to 1 million roubles.
The Most Generous Russian Companies
Forbes has compiled a list of the most generous Russian companies that value their top managers more than others in monetary terms.
Foreign Companies with the Best Reputation in Russia
Toyota, Rolex and Bosch took the first places in the ranking of foreign companies with the best reputation in Russia. The authors of the rating, analysts from the Reputation Institute, are sure that the reputation of companies in Russia and in the rest of the world is perceived in completely different ways.
Investors from Arab Countries will be Invited to Participate in Russian National Projects
In particular, the Arab Mubadala investment fund that had previously invested in Russian projects showed interest in investments in Russia.
Amendments to the Law On Mass Media will Simplify the Process of Foreign Ownership of the Russian Media
The law restricting the share of foreign participation in the capital of the Russian mass media was adopted in 2014. In order to fulfill the law, large publishing houses and media holdings had to change the ownership structure.
Forbes: the Most Reliable Russian Banks
Unicredit Bank ranked first in the top 100 of the most reliable banks in Russia compiled by the Forbes magazine.
Undisclosed Financial Services of the Russian Market
The Bank of Russia posted the information about the economy sectors that created the main demand for undisclosed financial services in 2018 on its website.
Regulatory Sandboxes for IT Companies
It is proposed to create "regulatory sandboxes" for the blockchain, neurotechnology, robotics, systems based on big data and wireless communications in Russia in 2019.
Russia May Significantly Increase Gas Supplies
In the next five years, Russia may significantly increase gas supplies to Europe and its share in the local market.
33% of SMEs in Russia Faced Corruption in 2018
Research: every third Russian entrepreneur was requested to pay a bribe in 2018.
Inflation Growth
Following the results of 2018, inflation in Russia amounted to 4.3 percent compared to 2.5 percent in the previous year.
Economic Forecasts: Russia Experiences a Recession
Russia is at the final stages of its economic cycle and experiences a recession, as the analysts of the Vanguard investment company noted in their forecast of the world economy for 2019.
Russian Power Company Launched a Digital Transformation Project
Rosseti PJSC (Russian power company) aims to create their own SCADA system in three years.
Forbes Magazine Presented Its Annual Ranking of the Best Countries for Doing Business
Russia took the 55th place in 2018.
Sharing Economy in Russia
The total volume of the main sectors of the joint consumption (sharing-economy) economy in 2018 will reach 511 billion rubles, which is 30% more than in 2017.
Russian Airline Companies Suffer Losses
In 2016 Russian airlines suffered losses of 10 billion rubles, despite the state's attempts to support the industry.
The World Bank Worsened the Forecast for Russias GDP Growth
Now the international organization assumes that the volume of the economy would increase by 1.3 percent. Previously, it forecasted an increase of 1.5 percent.
Bloomberg: Russias GDP Will Grow by 1.1 Percent In 2017
Russias GDP will grow by 1.1 percent this year and by 1.5 percent in the next year. These are the average results of a poll conducted by the analysts of the Bloomberg Agency.
Most Russians Don't Notice Economic Improvement
About 39 percent of Russians reported about deteriorating of personal wealth in the fourth quarter, only 9 percent noticed improvement.
Gold And Foreign Currency Reserves Of Russia Fell By 8 Billion Dollars
Gold and foreign currency reserves of Russia fell by eight billion dollars during the week from December 9 to December 16, which is by more than two percent. Their volume now amounts to 379 billion dollars.
Changes Of Microfinance Market
The Bank of Russia has changed the status of one of the existing microfinance institutions from a micro-credit to a micro-finance company (MFC) for the first time.
Economic Development Ministry Gives Economic Growth Forecasts
Economic growth in Russia will be slow in 2017 after overcoming the recession - an average of 2 percent per year. This is about 1.5 times lower than the world rates and the country will be closer to the poorest nations of the world in its performance indicators.
Iran Is Interesed In Investing In Dagestan Projects
Businessmen from Iran want to invest in waste processing, as well as in the production of agricultural products, seeds and poultry in Dagestan.
The Reserve Fund of Russia Decreased by 18.4 Percent
The Reserve Fund of Russia decreased by 18.4 percent and amounted to 2.09 trillion roubles by September, as compared with the beginning of last month.
The Russian Ministry of Finance May Reduce the Program Of Support for SMEs
According to the proposals of the agency, the financial support may amount to 4.6 billion roubles (excluding capital investment) instead of 12.1 billion.
Deficit Of Federal Budget in Russia Amounted to 1,393 Trillion Roubles
Revenues were equal to 4.635 trillion roubles, expenses - to 6.039 trillion. As compared with the same period of last year, the difference between expenditures and revenues grew by almost a third.
10 SEZ will be Closed
By the order of the President the creation of new special economic zones (SEZ) in Russia stops, at the same time 10 sites will be closed, and all other working zones will be given to the regions.
Russian Economic Activity Is Still Declining
The Russian economy is sinking into recession and continues to approach bottom. This is stated in the research by the Development Centre of Higher School of Economics (HSE).
Buying Preferences in Russia
Russian consumers tend to buy food products from domestic producers, and non-food products - from international ones.
Forecasts On Russian Economic Crisis
In 2016, GDP of Russia will decrease by 1.2 percent, according to experts interviewed by "Development Centre" of the Higher School of Economics (HSE).
Cryptocurrency Prohibition
The Ministry of Finance has developed amendments to the law On the Central Bank prohibiting the production and turnover of cryptocurrency.
Number of Russians in Need Significantly Increased
The Vice Prime Minister Olga Golodets noted that the number of Russians in need has significantly increased recently due to a sharp drop in incomes.
Fitch Ratings Issues Downgrade Warning Over Mulled Tax Hike
Fitch Ratings has warned the planned tax hike for oil and gas companies could lead to individual downgrades in the sector, says a recent paper.
Bail-In in Russia?
Russias financial regulators are considering a Cyprus-style banking resolution procedure that would save the state from compensating millions in deposits on behalf of failed banks.
New Mesures For Mortgage Lending Support Are Being Considered
The Russian government suggested the possibility of subsiding of first real security payment after termination of the program of favorable mortgage lending.
2016: Russian Hopes and Fears
The majority of Russians are afraid of the clamorous corruption scandals, economic crisis and technological disasters in the coming year.
Moodys Forecasts Russias GDP Decline
The Russias GDP will decline by 4 percent in 2015.
Russian Economic Forecasts
The Ministry of Finance forecasts the growth of the Russian economy in the fourth quarter of 2015 or in 2016.
Rouble's Volatility
The dynamics of the national currency greatly depended on commodity prices.
Russias GDP Forecasts
A forecast of the dynamics of Russias GDP for 2016 ranges from zero to one and a half percent.
Rouble's Fall
Todays trading on the Moscow stock exchange began with a sharp fall of the rouble.
Buzz Barometer: Why August is Most Dreadful Month for Russians?
Chris Weafer of Macro-Advisory explains to the West why Russians approach August with almost a sense of dread. It is a case of if something bad is going to happen it is more likely to happen in August, he makes a fair point.
Future of Bitcoin in Russia
The Kremlin has admitted bitcoins can be used for some transactions after cautious statements by the Central Bank.
IMF Downgrades Russia Forecast
The IMF has downgraded its Russia forecast despite the strengthening rouble and a rebound in oil prices.
Unemployment Skyrockets
The number of the officially registered unemployed in Russia grew by 12% since the beginning of the year, which coincided with the level of reduction in the number of available vacancies at Russian enterprises - 13.6%.
Food Manufacturers Still Rising Prices
Manufacturers have raised the price for cabbage by 66 percent since the beginning of 2015. The anti-monopoly agency has recorded 1,007 reports of rising prices for goods.
Annual Inflation in Russia Exceeded 16%
According to the Federal Statistics Service of Russia, consumer prices in Russia increased by 5.8% in less than two months that have passed since the beginning of 2015. They have not been rising this quickly since 1999.
Russian Ministry Of Finance Will Not Stop Working With International Rating Agencies
The Russian Finance Ministry does not consider the possibility of termination of contractual relations with international rating agencies.
Moodys Lowered the Ratings Of Sberbank, VTB And Gazprombank
The International rating agency Moodys lowered the credit ratings of the seven major financial institutions down to the thrash level.
Moody's Downgrades Russia to Junk, Outlook Negative
Moody's has downgraded the government of Russia's sovereign debt rating to junk status over the continuing crisis in Ukraine, fiscal pressures and the continued erosion of Russia's foreign exchange (FX) reserves, and possible disruptions of timely payments on external debt service.
Business Climate Improvement to be Discussed
The Ministry of Economic Development introduced the package of measures on improvement of the business climate in Russia for consideration of the government.
Buzz Barometer: Russias Bailout Plan Unlikely to Work Forbes
The US magazine has dissected the blueprint tabled by the Russian cabinet in response to the deteriorating economic outlook in a no-words-minced piece by contributor Anna Borshchevskaya.
IMF: Russian Economy Is Expected to Fall By 3%
The Russian economy is expected to fall by 3% in 2015. This is stated in the IMF report.
HSBC: Russian GDP Will Fall To 3.5%
The British banking conglomerate HSBC toughened its forecast on the fall of Russias GDP to 3.5%, according to Bloomberg.
Russian Economic Forecasts
The World Bank (WB) raised its forecast for economic growth in Russia in 2014 from 0.5 to 0.7 percent. The forecast for 2015 has been reduced to zero, instead of 0.3 percent growth of the September forecast.
Bonds Placement On Asian Markets
The Ministry of Finance does not exclude the possibility of placement of bonds on the Asian markets in order to create a benchmark for corporate bond placement.
Printing Equipment Market Goes Down
The market of printing equipment in Russia amounted to 940,000 units of equipment in unit terms and $ 208 million in money terms for the third quarter of 2014. Compared to the same period of last year, it decreased by 5 percent in unit terms and 14 percent in money terms.
Buzz Barometer: "Interest Rates at 9.5% Look Very Odd"
The international press was nonplussed about the Central Banks move to hike its benchmark interest rate by 150 basis points at a time of sluggish growth and private companies crying out for cheaper money to kick-start the economy.
Standard & Poor's Affirms Russia's Credit Rating
On October 24, 2014, Standard & Poor's affirmed its 'BBB-/A-3' long- and short-term foreign currency sovereign credit ratings and its 'BBB/A-2' long- and short-term local currency sovereign credit ratings on Russia but the outlook remains negative.
Wages Decrease
Employers are reluctant to raise wages, and inflation demolishes the bonuses put in the beginning of the year due to the economic stagnation. As a result, the Russians employed in the private sector are expecting one of the most serious decreases in real wages at year-end in recent years.
Moody's Downgrades Russia, Outlook Negative
Moody's has downgraded the government of Russia's debt rating by one notch to Baa2 from Baa1 in a move that could speed up capital flight in a country already suffering from liquidity and investment crunch.
Global Oil Demand Reduces
The experts from the International Energy Agency have lowered its forecast of global oil demand. According to the IEA, at year-end of 2014 the world will consume a daily average of 92.4 million barrels of oil. This is about 200 thousand barrels less than it was previously conceived.
RUSSIA CALLING! Investment Forum
Moscow has hosted VTB Capitals fifth annual RUSSIA CALLING! Investment Forum, attended by over 1,800 guests, including more than 360 international and Russian investors, as well as heads of major Russian companies and government ministries and agencies.
Acceleration Of Capital Outflow
Foreign policy risks and the situation around the Sistema JSFC may trigger the acceleration of capital outflow from Russia.
Ministry of Economic Development Predicts Economic Fall
Russias economy will fall by 0.6% next year, the prices will rise by 7.6%, and the annual average dollar rate will make up 40 rubles. This will be possible if oil prices fall to $ 91 per barrel, as it is clear from the final version of the macroeconomic forecast of the Ministry of Economic Development.
Economic Forecasts
Experts from the World Bank revised Russian GDP growth forecast from 1.1 to 0.5% and increased inflation expectations for the year down to 8% (the latest forecast of the Central Bank is 7.5%). In the future, the projected growth of the economy in line with the baseline scenario of the international credit organizations will be even lower: 0.3% in 2015 and 0.4% in 2016.
Sochi 2014 International Investment Forum: Govt Strategy
The government has laid out plans to survive a period of slackening growth in the economy and restrictions imposed by the West.
EU's Further Economic Sanctions on Russia
The EU has adopted new sectoral sanctions against Russia that will enter into force on 12 September. Alarmed by the gravity of the situation in Eastern Ukraine, the Council decided to step up the measures adopted on 31 July against Russia.
Russian Economy Goes Down
Russian economy continued to drift to zero in July. Investments recovery stopped, and the growth of private consumption was much slower than in the second quarter.
Inflation In Russia Goes Up
Inflation in May 2014 was 7.6% on an annualized basis, Rosstat reported. This is more than in April (7.3%) and ever in 2014. It is also above the key rate of Russian Central Bank and higher than inflation forecasts for the end of the year.
SPIEF 2014: Multi-Billion Contracts Despite Political Pressure
The St Petersburg International Economic forum has generated 269 billion roubles in deals in spite of the pressure from Washington on participants.
IMF Finds Russian Economy Recessive
International Monetary Fund (IMF) believes the Russian economy is recessive, as it shows a decrease the second quarter in a row.
Russia Scoops World Media Coverage
Russia has learned to dominate the world news headlines, drawing extensive press coverage with both positive and negative developments.
UK Finance Gurus Behind Russian Business - FT
The Financial Times has revealed close links between senior figures in the British establishment and their lucrative ties to the Russian business world.
Western Companies See Sanctions Shadow Over Them
Its not only Russian officials and individuals with close ties to the Kremlin who have been punished for Moscows incorporation of Crimea. Western companies could be feeling the heat of the battle of words, too.
Media Buzz: Possible US Oil Sale as Penalty for Russia
George Soros has been actively promoting a crude sale-off by the US as a penalty for Russia. But would a renewed US-Saudi energy alliance be a more powerful instrument?
Economic Benefits of 2014 Sochi Winter Olympics
The Sochi Olympics generated almost 2 billion roubles in revenue for the Russian TV channels who acquired the broadcasting rights for the 2014 Winter Games
New Rouble Symbol?
The Russian Central Bank has put the choice of the national currency symbol to vote. Click here to find out where you can pick the future official sign of the rouble.
International Monetary Fund Urges Russia To Abandon Oil "Props"
Russia requires far-reaching policy reforms with the support of new investments, tight fiscal policy and more efficient use of resources. The pre-crisis growth factors of the Russian economy have been exhausted, according to the International Monetary Fund's annual review of the Russian economy.
Will Russian Economy Kick-Start or Stall: A Look At Privatisation
The Russian government is looking for ways to increase budget revenues amid growing spending on the social sector.
EBRD Chief Promotes Russia Among Investors
Despite the challenges and slowing growth, some foreign investors like the European Bank for Reconstruction and Development are still optimistic towards Russia. Click here to find out more about the EBRD's effort to promote Russia's opportunities abroad.
Russia Woos Investors
In a meeting with the leaders of the world's top corporations, the Russian PM boasted some stats but also called for more investment to be made in areas outside of the highly-profitable oil and gas sectors.
Recession Relapse in Russia
One of the country's leading economists is certain that Russia has already been hit by the second wave of the financial crisis. Russia-IC takes a look at the expert evidence. If you need more info on Russia's economy and its state at the moment, contact us for details.
Early Warning System for Recession
Russia plans to introduce a new arrangement of leading indicators to monitor future trends on the markets, as part of the drive to discern new possible meltdowns before they hit hard. Russia-IC takes a look at the pros and cons of the plan.
Russia's Gold Reserves Grow 2%
Russia is scaling up its gold reserves, building on sinking demand in the world. Russia-IC looks at the reasons why gold is looking increasingly appealing for investors and invites you to a key jewelry exhibition in Moscow this September.
Swiss Investments to Russia Are Growing Regardless Crisis
July 13 Swiss and Russian presidents are to discuss acute bilateral and international issues and open a 500 mln Euro Swiss-investment OJSC Shurovskiy Cement plant in Kolomna.
Who is the Poorest in the World? CIS Countries Are on the List
The Forbes magazine has made a ranking of countries with bad economies. This is a real revolution: this year a list of ten countries includes three representatives of the Commonwealth of Independent States. Residents of Armenia, Ukraine and Kyrgyzstan will be very surprised to know that their economies can't stand comparison with Swaziland or Nicaragua.
Inflation in Russia is an Endless and Tiring Process
Prices in Russia are rising faster than in any other country with emerging markets. At the moment inflation is the most big problem in the country.
Invest in Russia or not?
According to the Maplecroft research, Russia has climebed five positions in the ranking of the most risky countries for the investment. In this rating list Russia stands among countries that suffer from armed conflict, but this fact doesn't affect much the income of investors.
Is the End of Draft Dodging Coming Soon?
All Russian men between the ages of 18 and 27 are obliged by law to perform one year of military service, but people are encouraged to evade conscription.
Russian Ruble Will Outstay
Russia has all chances to overcome the financial turbulence almost unharmed.
Russia to Domesticate Helicopter Engines Production
We will have our own gas-turbine engine in around 10 years. We have some engineered projects but we need to modernize the industrial base and test facilities. It is going to be an engine of an absolutely new level with which we plan to outstrip the competitors.
The Gold Coast Beckons Russian Investors
Investing in resorts and recreation zones seems to earn popularity easily and fast in Russia. Unfortunately Russia cant boast numerous long sandy beaches and sunny days all year long. The region of Sochi is probably the only place in the whole country attracting businessmen. No wonder, they search for other opportunities to purchase a house on the sea shore.
Dollar is no Longer Popular in Russia
Since the dollar began to slide down inevitably, a true revolution happened in the minds of the Russian citizens. According to the recently conducted research, the number of Russians, who trust the U.S. currency has reduced tenfold for the last six years.
Russia is Making Energy Agreements with Armenia
Russian premier minister has come to Yerevan, Armenia for two-days bilateral negotiation on trade-economic, investment, energy, nuclear energy and transport issues.
World Economic Crisis 2008: Russia will Outstay
Most people, irrespectively of their religion and nationality, tend to celebrate New Year and hope for the best. However, experts who annually release economic forecasts dont see the future so enthusiastically: they promise $175 for barrel of oil and a serious meltdown in Chinese and U.S. financial markets.
Russian Uranium for Japan
Japan sees Russia as a partner in the Atomic field. Firstly, the country intends to cooperate with several Russian companies engaged in uranium enrichment, secondly Japan is going to gain access to development of Russian uranium mines.
Russian Federal Customs Service Reports
For several years Russian special services have hardly been trying to show their anti-counterfeit activity. One of the main reasons explaining this situation is Russias forthcoming joining WTO.
The First Stock Exchange for Small Companies Opens in Russia
Small turnover companies or just new ones, which couldnt operate at the exchange, have recently been given such an opportunity. RTS START, a new market, has been established especially for them.
Rubles Winning
Within recent years the dollars prestige has dipped below its exchange rate, affirm sociologists from the Public Opinion Fund. 1500 people living in 100 settlements of 44 regions of the country participated in the poll; the survey showed that the native ruble is 12.5 times more preferable than the American currency.
Whole Russian Budget on Foreign Banks Accounts
While Russian financiers are proudly reporting about capital influx to the country, their foreign colleagues are calculating outflow of funds from Russia.
Mergers and Acquisitions of Russian Market
Western M&A markets got used to mergers prevailing over acquisitions, but as for the Russian part, here acquisitions form the major share of dealings.
Dollars Dive against Ruble
American currency is plunging. The process started last week, by Friday the dollar fell against the ruble to the rate equal to that of seven years ago.
40 Most Expensive Russian Brands
Interbrand Zyntzmeyer & Lux AG agency together with weekly newspaper Business Week Russia published the yearly rating of 40 the most expensive Russian Brands.
Counterfeit Disaster
The European Commission inscribed Russia on the list of Top Five world counterfeit producers following the results of the last year. In keeping with the data, Russia ranks second yielding to China alone.
Rosneft: Initial Public Offering Or Ostracism?
Russian oil giant Rosneft set up after the break-up of Yukos has initiated its IPO both in Russia and London.
Russias WTO Bid
Russias bid for WTO has aroused much controversy in and out of the country. Today, the organization unites around 149 states controlling more than 95% of the world trade.
The Saga Of Rouble
The earliest inscription found which mentions the rouble was a piece of birch bark discovered in Novgorod and dating back to the late 13th century.
Are You A Patriot?
Russians are true patriots in spiritual sense and almost turncoats materially. But it is also a big question what Russians perceive as superior.
Capitalization in Russia
Russia-IC takes a look at Russias capitalization leaders in April, 2006, identifying their potential and bringing out beneficial factors behind the growth.
Special Economic Zones
Special economic zones are thought to be a powerful tool to combat All-Russian misery and illusionary competition.


Inflow to Funds Investing in Russia Tripled in a Week
The net inflow to funds investing in Russian assets and bonds (including funds focused not only on the Russian Federation) amounted to $ 370 million.
The Central Bank will Restrict the Sale of Complex Investment Products to Inexperienced Investors
The Bank of Russia has developed a draft directive restricting the sale of complex financial products to unqualified investors. The corresponding document is published on the regulator's website.
Ruble Lost One-sixth of its Value in a Year
The ruble has depreciated by 16.7% against the dollar and by 24.1% against the euro in 2020. The fall was caused by a pandemic, a decline in oil prices, imposed sanctions and the threat of new ones.
Russian Venture Capital Market Shrank by almost 10% in 2020
At the same time, the number of transactions decreased by more than one and a half times - from 130 to 78.
Half of Moscow Fitness Clubs may Go Bankrupt by the End of the Year
Up to 50% of Moscow fitness clubs may close by the end of 2020 or in the first quarter of 2021. Experts estimate the overall decline in the fitness and sports industry at 35%.
IT Sector Accounted for 60% of the Total Amount of All Venture Capital Investments in Russia
A total of $ 124 million was invested last year.
The Ministry of Economy has Developed an Analogue of the "Golden Passports"
The Ministry of Economy proposes to issue residence permits to foreigners in a simplified manner in an exchange for investments.
Central Bank: Economic Decline in Russia in the Third Quarter was 3.6 %
The Central Bank expects the economy to decline by 4-5 % by the end of the year.
The Digital Ruble may Come into Circulation in Russia in Three - Seven Years
Russia will not be able to become a world leader in this area.
Trade Turnover between Russia and the European Union Fell by 24.5%
Trade turnover between Russia and the European Union in January-August decreased by 24.5% compared to the same period last year.
Net Capital Outflow from Russia Increased by 65.9%
According to preliminary estimates of the Central Bank, the net capital outflow from Russia by the private sector in January - September amounted to $ 35.5 billion.
Research: the Share of Creative Industries in Russia's GDP is Higher than the World Average
For the first time, the Center for Urban Competencies of the Agency for Strategic Initiatives (ASI) estimated the share of creative industries in the Russian economy: it turned out to be significantly higher than the world average.
Net Inflow to Funds Investing in Russia Fell from $ 120 Million to $ 10 Million over the Week
It is noted that the Russian market is under pressure due to the situation with opposition leader Alexei Navalny.
RANEPA: Russian GDP Decreased by 7.5% in the Second Quarter of the Year
In the second quarter of 2020, Russian GDP fell by 7.5% compared to the same period last year.
Russia is in the Top 5 European Countries with the Worst Consumer Sentiment
In the second quarter, consumer confidence fell from 19% to 30%.
Net Outflow from Investing Funds in Russia Amounted to $ 20 Million per Week
Over the week of July 15, investors withdrew $ 20 million from funds investing in Russian assets and bonds, BCS Global Markets calculated. A week earlier, the outflow was at the same level.
Regional Budget Deficit during the Pandemic Increased to 147 Billion Rubles
During the coronavirus pandemic, the number of regions with a budget deficit doubled. The total deficit amounted to RUB 147 billion.
"Digital Economy" Program will be Supported by Russian Universities
Students of Russian universities will be able to submit an appraisal commission for consideration their own startup instead of the thesis.
More than a Third of Russian Companies from Various Industries can Become Bankrupt
80% of companies expect their counterparties to go bankrupt.
The Turnover of SMEs Fell by More than 50% in April
In Moscow, the turnover of the SME sector fell more than in other regions - by 79%.
Half of SMEs in Russia Suspended their Work
56% of the small and medium-sized enterprises (SMEs) suspended their work due to restrictive measures taken to combat a new type of coronavirus.
Survey: Russians will Cut their Costs by at Least 15% even when Quarantine is Lifted
Two-thirds of Russians believe that the economic situation in Russia will only worsen against the backdrop of the current crisis.
The Amount of Tax Benefits for Moscow Business will Exceed 170 Billion Rubles
The city authorities intend to keep all the benefits accepted before the epidemic. Together with the approved anti-crisis measures, the total amount of business support will exceed 170 billion rubles.
Goldman Sachs: Despite OPEC+ Deal, Oil Prices will Continue to Fall
The new OPEC+ agreement will not lead to a recovery in oil prices, as the reduced production volumes are significantly inferior to the real drop in world demand for hydrocarbons.
The Number of Personal Bankruptcies of Russians Increased by 68%
Bankruptcy rates are accelerating in the regions.
Russian Measures to Support the Sectors Most Affected by Coronavirus
The government approved a list of measures to support organizations and individual entrepreneurs working in the areas most affected by the spread of the coronavirus COVID-19. The list of such industries includes catering, hospitality, air transportation, and consumer services.
G20 Energy Ministers will Meet on April 10
G20 energy ministers will hold an extraordinary meeting in a remote format on Friday, April 10, in order to ensure the stability of the energy market.
Fitch Halved Russia's Economic Growth Forecast
Agency revised estimates due to falling oil prices, weakening ruble and global economic downturn.
Retailers Reported the Threat of Interruptions in Supplies to Moscow Stores
Stricter rules for the movement of trucks in Moscow can lead to interruptions in the supply of socially significant goods to stores.
Every Fifth Russian Travel Agency May not Survive the Coronavirus Pandemic
Up to 20% of Russian travel companies may close due to the consequences of the new type of coronavirus pandemic COVID-19.
Russian Stock Market Falls by 8-12% Amid Oil Prices
At the beginning of trading on Monday, the Russian stock market showed a sharp drop.
Russian Demand for Labor is Falling, Just Like the Number of Job Seekers
A decrease in the number of employed people may affect the real economy.
Foreign Investments in Russian Assets Rose Sharply in 2019
Last year was the most successful in terms of investment activity since the introduction of sanctions.
The Russian Consumer Confidence Index Fell Down
By the end of 2019, the Russian consumer confidence index fell from 73 to 68 points after two quarters of growth.
The Number of Commercial Organizations in Russia Decreased by 12.4%
The number of commercial organizations (LLCs and other enterprises) in Russia decreased by 12.4%, down to 3.08 million companies from January to December 2019.
English School for Children Novakid Raised $ 1.5 Million Investment
Russian EdTech startup Novakid, developing an English language school for children, has attracted an investment of $ 1.5 million.
Technology Parks for Creative Industries will be Launched in Moscow
Technoparks will provide the necessary infrastructure for companies in the creative sector - publishing houses, design studios, film companies, etc.
Microsoft and Partners will Help Russian Startups Enter the International Market
Microsoft, together with EY, Startupbootcamp and investment holding Altergate, are launching a program to support Russian startups when entering the international market.
The Share of Small and Medium-sized Businesses in the Economy Decreased
Rosstat reported a decrease in the share of small and medium-sized businesses in the economy.
Blockchain Development Costs in Russia will be Halved
The new roadmap provides for an investment of 9.5 billion budgetary and 18.9 billion rubles of extrabudgetary funds. At the same time, the introduction of technologies will allow the economy to save about 500 billion rubles and earn about 600 billion more in taxes.
The Pessimism of Small Businesses has Grown Stronger in the First Half of 2019
In recent years, greater negativity indicators were observed only in 2015.
Russians Most Often Save Money on Holidays, Leisure and Treatment
Besides, the number of Russians who want to save on education their own and their childrens has also grown.
The Foreign Investors Interest in Russian Assets is Growing Again
Foreign investors have invested $ 46 million in Russian funds over the past week, which has been the highest figure since early July
Seven Russian Companies Got into the Top 500 of the Global 2000 Ranking: The Worlds Best Employers by Forbes
The highest position among Russians belongs to the Nornickel company that ranked 36th; there are no other Russian companies in the top 100.
Russia Ranks Third in the World in Terms of Fintech Services Penetration
Russia ranks third among the 20 largest world markets in terms of penetration of fintech services.
Central Bank: the Russian Crowdfunding Market Fell Sharply in 2019
In the first nine months of 2019, the Russian crowdfunding market declined by 42%.
American Retailer Acquired 25% of Familia Store Chain
Large American retailer TJX Companies acquired a 25% stake in Familias Russian chain of stores.
American Marketplace iHerb Opens a Division in Russia
IHerb Marketplace sells natural supplements, cosmetics and other products. The Russian market is the largest for iHerb.
The Largest Russian Companies have Accumulated over 3.4 Trillion Rubles in their Accounts
Gazprom has become the company with the largest reserve of funds accumulated in accounts in Russia.
The Number of People Employed in the SME Sector Decreased by Almost 600 Thousand People
The number of people employed in the small and medium-sized business sector in Russia reached 15.4 million in October this year, decreasing by 567 thousand compared to the same period last year.
Business Activity of Russian SMEs is Close to Stagnation
According to the results of the third quarter of 2019, the value of the index of business activity of small and medium-sized enterprises (RSBI) in Russia fell to 50.9 points. The current rating indicates that the business activity of the SME sector in Russia is close to stagnation.
Quota Limits for Foreign Workers in Russia
The Government of the Russian Federation has established quota limits for foreign workers in various sectors of the country's economy for the year 2020.
Food Sharing in Russia
Russians throw away tons of food worth 1.6 trillion roubles per year. The situation can be changed by food sharing that is beginning to develop in the country.
The Russian E-sports Market can Grow up to $ 100 Million in Four Years
In the coming years, the audience in this entertainment segment can reach 22 million people.
The Highest Salaries in Russia
The highest salaries in Russia are observed in the field of construction.
The PMI of Manufacturing Companies Dropped Down
In September of this year, the PMI of manufacturing companies dropped to 46.3 points, which has become the lowest indicator since May 2009.
Shadow Sector Salaries in Russia
The Government of the Russian Federation estimates the amount of salaries in the shadow sector of the economy at 10 trillion roubles.
The Venture Capital Market in Russia Decreased by 35% in the First Half of 2019
The largest investments were made by corporate funds - during six months they invested 1.8 billion rubles in 13 transactions.
The Amount of Investment in Fixed Assets in Moscow has Grown by 19.5%
The Russian capital currently accounts for 14% of the total Russian investment in fixed assets and about half of the country's foreign direct investments.
Sberbank and the California Accelerator 500 Startups Started to Accept Applications
The second round of the accelerator, organized by Sberbank and the California accelerator 500 Startups started to accept applications.
The Number of Employed Russians Fell Sharply
For the first half of the year, the number of employed Russians fell sharply - by 800 thousand in the first quarter of the year and by 600 thousand in the second.
Technical Recession in the Russian Economy is Predicted
Experts of the Stolypin Institute of Economics of Growth predict the onset of a technical recession in the Russian economy in 2019.
Russian Business Doesn't Go Digital
Strategy Partners consulting company has conducted a research on the readiness of Russian business for digital information.
The Number of Ads for the Sale of Ready-made Businesses Increased
Against the background of growing numbers of people wishing to sell their businesses, the prices are falling. The price has decreased by 8% during the year; now the average cost of a ready-made business makes up 3.05 million roubles.
Business Activity in the Areas of Production and Services Fell Below a Critical Level
The PMI index, which reflects changes in the level of business activity in the manufacturing and services sectors, dropped to 49.2 points in June.
A Joint Venture Fund that Will Invest in Projects in the Sphere of Medical and Pharmaceutical Industry will be Created
The priority areas for investment will be the production of high-tech medical products, development of new medicines in the field of oncology and their delivery systems, development of software for body functions monitoring, etc.
In 2018, 984 Thousand Legal Entities were Penalized Under Administrative Law in Russia
This figure has doubled since 2015: 400 thousand legal entities were fined then.
Investment Attractiveness of Russian Regions
The Agency for Strategic Initiatives (ASI) presented an annual ranking of the investment attractiveness of Russian regions. The ranking is for the first time headed by Moscow.
Russian IT Market is Growing
Russian IT market grew by 17% in 2018, as compared with 2017, reaching a volume of 1.5 trillion roubles.
Russian and China are Launching a Joint Scientific and Technology Innovation Fund
The fund will invest in projects in the fields of artificial technologies, innovative materials and space technologies.
More than 600 Thousand Russian Enterprises Went out of Business in 2018
The number of closed companies exceeded the number of those that were opened 2.14 times.
Russia Returned to the Top 10 European Countries in Terms of the Number of Projects with Direct Foreign Investment
A total of 211 such projects have been implemented during the year.
Russian Online Retail Market is Growing
The Association of Internet Trade Companies (AITC) has estimated the growth of the online retail market in 2018 at 59%, as compared with 2017. This is the best indicator of growth for all the time of measurements - since 2010.
Russian Companies were Minimally Involved in the Transactions on the Purchase of Foreign Business in 2019
The indicator of the first quarter of 2019 has become the second lowest in the last 20 years; only the indicator for the first quarter of 2017 was worse, when there were no such transactions at all.
The Most Demanded Specialists in Russia
The most demanded specialists in Russia are sellers: they account for 13% of all job offers.
The Share of Wire Transfers in Russia Decreased
A dramatic decline in the wire transfer share equal to 4 pp is probably not related to seasonality and shows an emerging trend for traditional retail outlets of small businesses
The Number of Individual Entrepreneurs in Russia has Exceeded the Number of Companies
During the entire period of analysis of state registers, the number of operating companies has always been higher than the number of individual entrepreneurs; however, since 2016 the number of companies has decreased.
Russia Ranked Third in the List of Countries with the Strictest Trade Regulation Rules
The Retail Restrictiveness Indicator estimates two main groups of factors: the simplicity of opening a store and operating activities.
The Number of Offers on the Sale of Businesses Increased in Russia by 33%
The number of offers on the sale of businesses increased by 33% in the first quarter of 2019, as compared with the same period of last year.
Running Small Businesses in Moscow and St. Petersburg is Becoming Less Profitable
Running small businesses in Moscow and St. Petersburg is becoming less profitable: business payback periods are growing; investment attractiveness and profitability are decreasing.
The Level of Competition in Russia Increased for the First Time during Four Years
According to a study by the Analytical Centre under the Government (AC), the level of competition in Russia increased for the first time during four years, according to entrepreneurs: in 2019, 51% of the study participants rated the degree of competition as high or very high.
The Share of Unprofitable Organizations Increased in Russia
According to the data of the Federal State Statistics Service, the share of unprofitable organizations in the Russian Federation increased by 0.7% in January 2019 and reached the record indicator of 35.8%.
The Highest Outflow of Foreign Money Recorded in Russia
The current level of investment is at its lowest level for the last 21 years.
Investment Environment in Russia is Negative for Foreign Investors
Investors think that the key problem hindering entrepreneurial activities in Russia is corruption (60% of respondents).
The Best Russian Banks by Forbes
Banks in 23 countries of the world were evaluated on the basis of 40 thousand customer reviews by Forbes.
The Fitch Ratings Agency Confirmed Russias Investment Rating at BBB Level
Russias ratings balance between a very strong sovereign balance, reliable external finances and reliable macroeconomic policies against a background of weaker growth prospects, high commodity dependence, weak management standards and geopolitical tension.
The Share of SMEs in the Russian Economy Makes 21.9%
Rosstat published information about the share of the small and medium-sized businesses (SMEs) in Russia.
The Share of Non-cash Payment in Russia Reached 50%
At the end of 2018, the share of non-cash payment was 46%, in 2017 - only 40%.
Russia Ranked 27th in the Annual Bloomberg Innovation Index
Russia lost two positions in the ranking.
Russian Imports of Dairy Products May Reach a Minimum Level Over the Past 15 Years
According to the results of 2018, Russian imports of dairy products may decrease to 6.3-6.5 million tons, reaching a minimum level over the past 15 years.
A Special Group in the UK will Monitor Financial Flows from Russia
It was decided to organize a special group in the UK to combat fraud, corruption and money laundering.
Bank of Russia Reduced the Share of Dollar Turnover in International Reserves
The Bank of Russia reduced the share of dollar turnover in international reserves to 21.9 percent and at the same time increased the share of euro (to 32 percent) and Chinese yuan (to 14.7 percent).
Russian Shrinkflation
Food manufacturers began to reduce packaging to hide growth in prices.
The Trade Turnover between Russia and China in 2018 Increased by 27.1 Percent
The trade turnover between Russia and China in 2018 increased by 27.1 percent and amounted to more than 107 billion dollars.
Gasoline Prices will Keep on Growing in 2019
The Central Bank of Russia stated that the tax increase would affect all spheres of the economy, and prices would go up for all goods including automobile fuel.
Eco-friendly Transportation Campaign
Green coloured car signs may be issued in Russia to emphasize the environmental friendliness of electric vehicles.
SME in Moscow Received over 27.7 Billion Rubles of Loans with State Guarantee Support in 2018
The volume of guarantees of Small Business Assistance Fund in Moscow equaled to 13.7 billion rubles in total, which exceeded the previous year statistics by 13%.
Russia will Strengthen Control over the Quality of Gasoline and Diesel Fuel
It will be possible to track the entire process of fuel production - from the refinery to the gas tank.
The Russian Government is Going to Continue Privatization of State Companies
The government is going to continue privatization of state companies and look for those who will buy them, but this wont be done publicly.
Russian Government would not Increase the Tax Burden on Businesses within the Next Six Years
According to the Minister, the government will more strictly monitor the implementation of tax legislation by businesses for the purpose of creation of equal conditions for entrepreneurs.
Prices For Consumer Goods Were Fixed
The largest Russian retail networks have fixed prices on 56 kinds of consumer goods.
Russian Advertising Market Declines
The volume of the advertising market in Russia will decline by 17 percent down to 282.26 billion roubles - in 2015.
Economic Indicators Improvement
The situation in the Russian economy is now better than it was expected at the end of last year. This was told by the Minister of Economic Development Aleksei Ulyukayev.
Inflation in Russia to Stay at 11-12% in 2015 - Finance Minister
The inflation rate is expected to be around 11-12 percent in 2015, and then it will drop to 6-7 percent next year, according to Russian Minister of Finance Anton Siluanov.
Russia Won't Support Greece Financially - Official
Russia currently has no plans to assist Greece with money, as "such expenses are not included in the federal budget law", Russian Deputy Finance Minister Sergey Storchak said.
Russia's Foreign Debt Estimated at $600 Billion for 2014
On Tuesday, January 20, the Bank of Russia issued a report which revealed that Russias foreign debt stood at $599.497 billion by the end of 2014, which is 17.7 percent lower than it was in the previous year.
No Economic Growth for Russia in 2015, UN Says
Russia is going to face a zero economic growth in 2015, to say the same about the whole Commonwealth of Independent States (CIS), UN Department of Economic and Social Affairs reports.
Manual Mode Of Economic Control Is Possible
The Russian President Vladimir Putin said that the manual mode of control over the economy may be turned on and the work in sectors may be organized, if necessary.
Russia Directs Biggest Companies to Cut Dollar Holdings
The Russian Government has ordered five biggest firms to limit foreign currency reserves in order to support the rouble.
Russia Raises Interest Rates to 17% While Russian Rouble Collapses
On Monday night the Central Bank of Russia took a dramatic decision to raise interest rates from 10.5% to 17% to save the country's economy from an enormous inflation.
Bank of Russia Ups Key Rate
The Bank of Russia decided to raise its key rate to 9.5 percent amid stagnant economy and depreciating rouble.
GDP Down 0.4% in August
Russias GDP dropped 0.4 percent in August, according to a report by Russias Economic Development Ministry.
Virgin Group Leads Petition for End to Ukraine Crisis
The UKs Virgin Group has published a call for an end to the Ukraine conflict signed by 16 Russian, Ukrainian and international business leaders.
Switzerland Remains Neutral in Sanctions War
Switzerland has rejected pleas from other European countries hit by the Russian food embargo to export their products via its territory in the latest twist of the sanctions war.
UAE Will Not Curtail Economic Cooperation With Russia
The sanctions of the West against Russia do not hinder economic cooperation and trade with the UAE.
Inflation May Spiral Out of Control in 2014
Russia is facing increasing inflationary pressure in 2014 amid flat production, stagnation and growing social expenditures.
Kaspersky Lab Posts 6 Percent Revenue Growth in 2013
Kaspersky Lab, a major anti-virus vendor in the world, has reported a 6 percent increase in earnings in 2013.
Russian Sues EU in WTO over 3rd Energy Package
Russia has complained to the World Trade Organization about the Third Energy Package after exhausting diplomatic means of resolving the tension.
More Ferries to Support Tourist Flow to Crimea
The Russian Defense Ministry has pledged additional ferries to transport people and cars from to Crimea to meet the growing demand of the high season in the newly absorbed region.
Germany Wants China to Influence Russia
Germany expects China to play a bigger role in the resolution of the Ukrainian crisis by influencing Russia.
Govt Forecasts 1.8-1.9 Percent GDP Growth
The Russian economy is unlikely to rise above 2 percent in 2014 amid investor uncertainty over the possible impact of sanctions, says the Economic Development Minister.
US Sanctiones Some Russian Banks, Freezes their Visa and MasterCard Cards
US-based Visa Inc. and MasterCard Inc. have stopped any operations with credit cards from several Russian banks targeted by the United States for financial sanctions on Thursday, a number of Russian banks said on Friday.
Aeroflots Shares Dropped 10 Percent
The Moscow Stock Exchange saw a 10 percent slide in the price of Aeroflots shares after the report on a change in flight routes over Ukraine.
Russian Gold & Foreign Exchange Reserves Reach $494.6 BLN
Russia has bolstered its gold and foreign exchange reserves by another 1.3 billion over a week, says a statement of the Bank of Russia.
Crimean Parliament Wants to Join Russia
The Parliament of Crimea has called on Russia to accept the Ukrainian autonomous republic as part of its territory.
Crimean War Costs Could Reach 3 Percent of GDP - Report
A military invasion of Crimea would cost the Russian economy some three percent of GDP, says a report by Bank of America Merrill Lynch.
Sochi Olympics May Boost GDP
The Winter Games in Sochi are expected to boost the economy by 0.3 percent amid a continuing stagnation, says a report by the Russian Central Bank.
Russian Military Plans Shock Stock Exchange
The events in Ukraine have sent the Russian stock market and national currency in free fall, with the biggest blue chips like Sberbank or Gazprom shrinking by an average of 15-23 percent.
Prices for Cars, Consumer Electronics May Jump Due to Rouble Devaluation
Cars, consumer electronics and liquor could be among the most hit categories in the wake of the rouble devaluation.
2013 Inflation Totals 6.5 Percent, GDP 1.4 Percent - Official Report
Inflation in Russia proved higher than expected in 2013, says a report by the Russian Federal Statistics Service
2013 Called Year of Missed Opportunities
Deputy Minister of Economic Development Andrey Klepach called 2013 the year of missed opportunities.
Russia Seeks More Trade & Investment from US
Russias First Deputy Prime Minister has returned from a trip to woo American investors and re-define trade cooperation with the US.
RUR 10 Trillion Missing in Budget to Deliver on Kremlin's Promises
The Russian budget is expected to lack some RUR 10 trillion, or $300 billion, until 2020 to deliver on the promises given by the authorities
Economy Minister Downgrades GDP Forecast
The Economic Development Ministry has downgraded its GDP forecast for 2013 and 2014.
The Telegraph: The Russian Economy Needs A Regime Change
The Russian economy is in a parlous state and needs a radical changes to the political regime, The Telegraph reports.
Govt Admits 2013 Worst Year For Economy in Modern History
2013 has seen the worst economic growth since the collapse of the USSR, said Russia's Economic Development Minister.
Unemployment Drops to 3.9 Percent
The unemployment level in Russia dropped yet again, says Labour Minister Maksim Topilin, with the official number totaling just 5.2 million people.
Govt Expects Oil Prices Dip in Late 2013
Late 2013 may see a drop in oil prices, according to the Russian government.
OECD Downgrades Russia's Growth Forecast
The OECD has cut its 2013-2014 forecast for Russia, following similar moves by major financial institutions, including Russia's Economic Development Ministry.
JP Morgan to Help Russia Boost Sovereign Credit Ratings
Russia signs on JP Morgan to help improve the countrys credit rating, says a statement by the Finance Ministry.
EBRD Cuts 2013 GDP Forecast for Russia
The European Bank for Reconstruction and Development has cut its Russia forecast amid growing fears over a looming recession.
Sluggish Growth Prospects Put Off Investors
Russia loses investment appeal, as global investors are losing faith in emerging economies.
Govt Predicts Recession If No Action Taken
Russia's economy may grind down to a halt, says Economic Development Minister Anton Siluanov.
Russia Cuts 2014 GDP Forecast
Russia's pace of economic development is slowing down, as seen from the latest government report.
Energy Revenues Must Drop to Quarter of Budget
The share of oil and gas revenues should be lower than 25 percent and not 50 as it is today - PM
Russia Writes Off Part of Cuba's $30BN Debt
The Russian government has approved a partial writeoff of Cubas $30 billion debt and secured new arms contracts.
Investing in Russia Big Mistake, Says Soros
Investors should better stay away from the Russian economy, billionaire George Soros warned the world business leaders in Davos.
Magnit to Cut Power Costs
Magnit, Russias biggest retailer in the number of stores and outreach, is changing its policy of power supply.
Sberbank Eyes Spot in Top-10 World Banks
Sberbank is working on a new strategic blueprint that will propel it into the elite of the world banking institutions, with revenues up to $30-40 billion.
World Economic Forum: Russia's Challenges
Russia needs to work hard to improve its governance standards and root out corruption, investors send a strong message to the government.
I Feel Good, say 61 Percent of Russians
61 percent of Russians think they are successful, according to a recent survey.
Russia's Foreign Debt Up
Russias foreign debt is up 15.4 percent on last years figures, according to the countrys Central Bank.
Russia's Mortgage Market Up 45 Percent
Russia's mortgage market expected to continue its growth in 2013, according to figures and experts.
4Q Slowdown To Continue in 2013
The fourth quarter of 2012 is seeing a decade-low level of Industrial production in Russia, according to an official report.
$23 bln Investment Plan Mulled by Gazpromneft
Gazpromneft has unveiled an ambitious investment programme in a bid to double its output by 2020. And these plans are realistic, experts say.
Russian Economy Slowing Down
Russia's GDP growth of 3.7 percent is overestimated, say experts, as the real pace of economic recovering is going down.
Capital Outflow Continues
$60 million withdrawn from Russia over the past week alone as part of a nine week negative trend.
Russia 67th in World Competitiveness Report
Russia still falls behind in investment appeal, staying in the middle of the table and failing to make significant progress in many of the key areas.
SberBank of Russia Supports Small Businesses
SberBank of Russia plans to open up to 10 support centres for small businesses in the capital, the Moscow Government announces.
Dagestan and Ingushetia to Receive 4 Trillion Rubles Towards Development
By 2025 Russia is expected to have spent 4 trillion rubles to foster the social and economic development of North Caucasus regions.
The FIFA World Cup Will Cost Russia a Fortune
The cost of holding the 2018 FIFA World Cup Championship is estimated at 632bln RUB - almost 4 times more than the initial forecast predicted.
Dmitry Medvedev: The Rising Euro Has the Future
The British financial analysts may predict troubles for euro, but at the Moscow International Currency Exchange EUR was once again well ahead of USD.
Dry Law in Russian: Beer Equals Vodka - It's Alcohol
Sad news for those who appreciate a good pint of lager: beer is now officially an alcoholic drink in Russia. It cannot be consumed in the street and can only be sold in small shops and supermarkets.
Dmitry Medvedev and Angela Merkel Discuss Libya, Eurozone, and Business Opportunities
On July 19, the Russian President Dmitry Medvedev and the German Chancellor Angela Merkel have met in Hannover to discuss the Russian-German stance on the issues of collaborative business development and international involvement.
Volkswagen: In Russia We Trust
Addressing the delegates of Petersburg Dialogue in Wolksburg, the Chairman of Volkswagen Group stated that the German automotive industry has a bright future in Russia.

Comment on our site

RSS   twitter      submit

Russian Cinema  Amur tigers  state tour operator  VR Projects  Russian social networks  Russian market  Embassy of France  ENEA  Russian scientists  Far East  Monuments in Moscow  Russian painters  St. Petersburg  Veniamin Reshetnikov  Modern Art  Patriotism  APEC  Painting  Sheremetyevo Airport  Russian business  Magadan Oblast   Everest Ascent  Political Prisoners  Russian oil and gas industry   environment  Exhibitions in Moscow  Sheremetyevo  Olympiad  Russian language  Premier League  CERN  Russian tourism  Norilsk  Kaluga  train tickets Russia FIFA  Russian economy  Kogalym  Tako Mekvabidze  Kuvshinovo   Chelyabinsk  Olympic Games 2012  Russian Literature  Yevtushenkov   Sakhalin  Moscow  Russian science  Mercedes-Benz Fashion Week Russia  Innovations  Republic of Kabardino-Balkaria  active holidays in Russia 

Travel Blogs
Top Traveling Sites