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Oil will Strengthen the Ruble
20 july 2012
On July 19, 2012, the USD exchange rate dropped sharply: on the basis of the results of a single trading session with settlements “today” at 15.00 Moscow Time the US dollar fell by 33.59 kopecks and amounted to Rb 32.0690 per USD.
Growth in GDP Will Continue in H2
18 july 2012
According to the preliminary estimate of the Ministry of Economic Development of the Russian Federation, in the 1st half year of 2012 growth in GDP amounted to about 4.4% on the same period of 2011.
The RF Budget System Surplus Proves Cyclic and Technical
18 july 2012
The Federal Treasury reports that at the end of the first five months of 2012, the enlarged government budget was executed with a Rb 1,150.9bn surplus (equivalent of 5.0% of GDP).
On the Bill on Abrogation of Categories of Land
17 july 2012
On 12 June, the State Duma Committee on Agricultural Matters discussed an earlier submitted to the State Duma bill "On introducing amendments to the Land Code of the Russian Federation and individual legislative acts of the Russian Federation with respect to abrogation of categories of land and recognition of the Federal Act "On transition of land or land lot fr om one category into another" to be having lost force.
Revolutionism of the document lies in introduction of a new classification of land in the country.
Revolutionism of the document lies in introduction of a new classification of land in the country.
On Approval of the New State Program on Development of the Agricultural Sector
16 july 2012
On July 13, the Government of the Russian Federation approved the State Program on Development of Agriculture in the 2013-2020 Period with federal budget financing in the amount of Rb 1,509 trillion.
Italy Would Have Benefited By Exiting the Euro Area
13 july 2012
According to the outputs of the research of the Bank of America Merrill Lynch based on evaluation of economic efficiency and the games theory, Italy has more reasons for exit from the euro area than Greece and consequences of such a move for the economies of both the countries can be positive.
15% of the Country’s Reserves Can Be Invested in Shares
11 july 2012
The Russian Financial Agency will be able to invest resources of the National Welfare Fund (NWF) not only in bonds, but in shares, as well.
The Protocol on Russia’s Accession to the WTO Has Been Ratified
10 july 2012
Despite the resistance by the system opposition, the State Duma approved the protocol on Russia’s Accession to the WTO on July 10, 2012. With individual voting, ratification of the protocol was supported only by deputies of the United Russia faction. Representatives of all the opposition factions voted against it. The document was approved with 238 votes for, 208 votes against and one vote abstained.
Support of the Stock Market – The Wasted Money
06 july 2012
The Ministry of Finance of the Russian Federation does not intend to repeat its actions to support the stock market through the VEB, nor advises the Central Bank of the Russian Federation to carry out a “soft” devaluation of the ruble as it was done in 2008-2009.
Military Expenditures Can be Cut
05 july 2012
On July 6, the Government of the Russian Federation will consider the issue of the main parameters of the Federal Budget in 2013–2015. The new budget will be approved at the backdrop of the complicated situation in the global economy. It is not excluded that the government will admit that adjustment of the budget as regards defense expenditures is necessary.
Russia is Ready for Accession to the WTO
04 july 2012
On June 10, 2012, the State Duma intends to consider the issue of ratification of the protocol of Russia’s accession to the WTO. On July 4, the State Duma’s Committee on Economic Policy, Innovation Development and Entrepreneurship advised the lower chamber to approve the Draft Law On Ratification of the Protocol of April 15, 1994 on Accession of the Russian Federation to the Marrakesh Agreement on Establishment of the World Trade Organization.
On Assessment of GDP in the 1st Quarter of 2012
29 june 2012
According to Rosstat’s first assessment, in the 1st quarter of 2012 Russia’s GDP amounted in money terms to Rb 13,490.6bn and increased by 4.9% on the 1st quarter of 2011.
The Central Bank of the Russian Federation has left the interest rates unchanged
15 june 2012
On June 15, the Central Bank of the Russian Federation reported that it left unchanged the rate of refinancing and interest rates on the main operations of the Bank of Russia.
On Wealth Tax
31 may 2012
Early in May, submitted to the State Duma Committee on Budget and Taxes were draft law No. 66360-6 on Amendment of the Budget Code of the Russian Federation, amendments to Article 13 of Part One of the Tax Code of the Russian Federation and amendments to Part Two of the Tax Code of the Russian Federation providing for introduction of a new federal tax - the wealth tax - in the Russian fiscal system.
The Central Bank of the Russian Federation Has Reduced Requirements to Russian Banks with Foreign Participation in Opening of Branches
23 may 2012
Within the frameworks of Russia's accession to the WTO, the Bank of Russia has abolished the requirement which obliged Russian subsidiaries of foreign credit institutions to secure permit to open a branch in the Russian Federation.
The Central Bank of the Russian Federation Has Renewed Direct REPO Transactions Against a Security of Shares
22 may 2012
On May 22, the Central Bank of the Russian Federation has renewed direct exchange REPO transactions with banks against a security of shares included in the Lombard list of the Central Bank of the Russian Federation.