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Assessment of the Federal Budget Strength
28 september 2010
In September 2010 the RF Government approved guidelines for the budget policy and characteristics of the federal budget for 2011-2013 which were developed on the basis of the 2010 Budget Message. Budget draft was based on the following objectives: secure stable budgetary system by cutting budget deficit, promote innovative development of Russia’s economy, and carry out pending obligations.
On corruption of the draft federal budget for 2011-2013
27 september 2010
On 21 September the Ministry of Finance of Russia in order to carry out anticorruption expertise posted draft federal law “On the Federal Budget for 2011 and for the planned period 2011 and 2013” with 30 September as a final date for submitting independent reviews.
On “The Forecast of the Socio-economic Development of the Russian Federation for the year 2011 and the Planning Period of 2012 and 2013”
24 september 2010
The RF Ministry for Economic Development presented, on 23 September 2010, its adjusted version of “The Forecast of the Socio-economic Development of the Russian Federation for the year 2011 and the Planning Period of 2012 and 2013”. GDP growth in 2010 is expected be at the level of approximately 104%. Bearing in mind the fact that GDP growth, according to the results of the first half-year 2010, amounted to 104.2%, the macroeconomic situation during the second half-year is going to demonstrate a somewhat slower dynamics.
The RF CB keeps its rates unchanged
30 july 2010
On 30 July, the Bank of Russia’s Board of Directors once again (just as it did one month earlier) made the decision that the rate of refinancing and other rates established by the RF CB should be kept at their existing level. Thus the decline of the rates observed since late 2008 until the summer of 2010 was discontinued.
Russia’s GDP in Q I 2010 rose by 2.9%
05 july 2010
The real volume of Russia’s GDP over Q I 2010 rose by 2.9% on the same period of 2009, thus amounting to 9,862 bn Rb.
The RF President’s Budget Message to the RF Federal Assembly
02 july 2010
On 29 June 2010, President of Russia D.A. Medvedev addressed this country’s supreme leadership with his Budget Message. By comparison with the time of last year’s Presidential Budget Message the macroeconomic conditions have changed rather dramatically, thus strongly influencing the character of the present document. Now there exists a distinct orientation towards a switchover fr om anti-crisis measures to modernization and innovation as part of the development of Russia’s economy.
The RF CB suspends its lending auctions
01 july 2010
On 1 July, 2010 the Bank of Russia announced that from 1 October 2010 it would suspend its auctions for granting unsecured loans to credit institutions for a period of over 5 weeks, and from 1 January 2011 – for all periods.
The RF CB makes a pause in the downward movement of its rates
30 june 2010
On 30 June, 2010 the Bank of Russia’s Board of Directors made the decision that the rate of refinancing and other interest rates established by the RF CB should be kept at their existing level, thus making a pause in their downward movement.
China refuses from rigid fixation of the Yuan towards the dollar
21 june 2010
On June 19, 2010 the representatives of the People's Bank of China have reported on the changes in monetary policy aimed at further gradual rejection from the rigid rate of the Yuan to the dollar.
Protection of intellectual property rights in Russia
17 june 2010
In mid-May 2010 the Business Software Alliance – BSA from the U.S. in conjunction with the International Research Corporation (IDC) have published the results of the Seventh Annual Study of the software piracy in the world (Seventh Annual BSA/IDC Global 2009 Software Piracy Study).
Bank of Russia Announces Improvements in Its Information Policy
09 june 2010
On June 7, 2010 the Bank of Russia announced that improvements in its information policy will be made: from now on the Central Bank of the Russian Federation will disclose not only the data on the total volume of interventions to support the currency market but also on the volume of so-called purposeful interventions.
Changes Made to Law on Privatization
08 june 2010
In June changes in the Federal Law No 178-FZ “On privatization of the state and municipal property” are coming into effect, which will may make the privatization relationships more transparent and open.
Modernization or Militarization?
07 june 2010
As it turned out during the parliamentary hearings of the State Duma Defense Committee on June 3, 2010, Russian military-industrial complex has already obtained the agreement of the Government’s economy block to allocate RUR 13 trillion from the federal budget for a new government armament program in 2011-2020. This exceeds by more than 2.5 times the sum allocated in 2007 (RUR 4.9 trillion) for the current program limited with 2015.
The Bank of Russia Sets Tougher Requirements to Evaluation of Credit Risk
04 june 2010
The Bank of Russia has informed of the approval of Instructions No 2459-U of the Bank of Russia of June 3, 2010 on The Specifics of Evaluation of Credit Risk by Individual Types of Loans and Debts Made Equal to Loans.
Development of Russian Industry in 2010
31 may 2010
In January–April 2010, growth in industrial output by 6.9% and in April, by 10.4% as against respective periods last year resulted mainly from growth in manufacturing industries by 8.3% and 15.7%, respectively, which situation can be explained in many ways by the effect of the last year’s low base.
The Bank of Russia has Announced a New Reduction of the Rate of Refinancing
31 may 2010
On May 31, 2010, the Bank of Russia has declared that starting from June 1 the rate of refinancing will be decreased from 8% to 7.75% per annum.