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Regional subsidies should be consolidated
29 march 2013
Ways of reforming the system of intergovernmental fiscal transfers, in particular consolidation and distribution of subsidies were discussed at the Russian Government meeting which was held on March 28.
Region performance measurement methods are changed far too often
29 march 2013
A package of measures developed by the Ministry of Finance of Russia and aimed at stimulating executive authorities of the constituent territories of the Russian Federation to invite investments to regions was considered at the Russian Government meeting held on March 28.
Capital outflow has been concentrated exclusively in large banks over the last few months
29 march 2013
Banks invested more than Rb 300bn ($10bn) in foreign assets in February. Growth in foreign borrowings and other borrowings from non-residents amounted to mere $2.5bn. Thus, net foreign assets of banks increased by $7.5bn to reach a record of $74bn in February.
Russia’s export downward trend still remains unchanged
28 march 2013
Russia's export reduction trend, which emerged as early as 2012, remained unchanged at the beginning of 2013.
General inflation in the country keeps its non-monetary nature
28 march 2013
Inflation remained stable in March: consumer price quantum index stood at 0.3% after 18 days in the month. In February, inflation decreased notably after a jump in consumer prices in January: consumer price quantum index declined from 1 до 0.6% at the end of the month.
300,000 former entrepreneurs will go to labor market and get registered as unemployed
27 march 2013
One of these days the President of Russia Vladimir Putin will commission the Russian Government to reconsider the expedience of raising imputed social transfers payable by individual entrepreneurs.
Russia’s budget system can be described as ‘unstable balance’
27 march 2013
According to the Federal Treasury of Russia, the volume of federal budget revenues amounted to Rb 1.98 trillion in January-February 2013, showing a decrease of 2.3 p.p. of GDP year on year. The volume of federal budgetary expenditures also decreased to 23.6 % of GDP (Rb 2239.5bn) in January-February 2013, showing a decrease of 0.3 p.p. of GDP year on year.
The offshore history of Cyprus has come to its end
26 march 2013
On Monday night the Cypriots found out how to prevent Cyprus from default. The island country will receive 10bn euro of financing from the European Commission, European Central Bank, and IMF. Though no disputable tax on bank deposits was imposed, two largest banks which suffered from Greece debts remission - Bank of Cyprus and Cyprus Popular Bank (Laiki) -- will have to fall victims.
Refined data on capital investments in 2011–2012
20 march 2013
The Federal State Statistics Service of Russia (Rosstat) published refined data on investment volumes in 2011-2012 and adjusted growth rate data in comparable prices for the period between 2001 and 2012.
Cyprian offshores – an evil which used to work smoothly
20 march 2013
The Cyprian Government delegation headed by Minister of Finance Michalis Sarris arrived to Moscow on March 20 to negotiate with the Russian Government on billion dollar loans in exchange for holding an interest in Cyprian banks and energy assets.
The dynamics of the industry in February 2013
19 march 2013
The tendency towards a steady slowdown in industrial production continued throughout 2012. In December 2012, the rate of industrial production amounted to 101.4% of the previous year.
Stability of the Cypriot financial system under threat
18 march 2013
A measure to tax all the deposits in Cypriot banks under new special taxing policies is something unparalleled, never seen before. Today, the Cypriot Parliament will decide whether or not to approve the decision of the President, which is linked to obtaining financial assistance fr om the European Union in the amount of 10 billion Euros.
Taxpayer internet services from the Russian Federal Tax Service
15 march 2013
On 15 March, 2013 the Head of the Russian Federal Tax Service M.V. Mishustin, First Deputy Finance Minister T.G. Nesterenko, Head of the Federal Treasury, R.E Artyukhin made a working visit to Ufa 1.
Nabiullina's nomination is a compromise step in the search of optimal policy
13 march 2013
On the 12 March, President of the Russian Federation Vladimir Putin proposed candidate Elvira Nabiullina for the role of Head of the Bank of Russia.
The Russian government has approved the state program on the "Development of Foreign Economic Activity"
12 march 2013
On March 7, 2013, the Minister of Economic Development Andrei Belousov, spoke at a meeting of the Russian Government to report on the draft of the state program on "The development of foreign economic activity." After the discussion, the decision was agreed upon to approve the draft of the state program.
The death of Hugo Chavez - a factor of political risk in trade and economic relations
06 march 2013
The news of the death of the president of Venezuela, Hugo Chavez once again leads us to analyze the prospects of trade and economic cooperation with resource-dependent economies which simultaneously hold a high political risk.