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Mending of Investment holes by Means of Sovereign Funds is a Bad Sign
11 june 2013
The debates on the issue on how to use funds fr om export commodity super profits arise in each country wh ere such super profits are accumulated.
The Bank of Russia Has Preserved the Monetary Policy Trend
11 june 2013
The regular meeting of the Board of Directors of the Central Bank of the Russian Federation did not result in a change in the monetary policy: as before the Bank of Russia made a decision to leave unchanged the rate of refinancing, as well as interest rates on operations related to liquidity absorption and short-term liquidity provision.
Establishment of an Independent Committee on Financial Stability Would be a More Efficient Measure
10 june 2013
A draft law aimed at upgrading of regulation, control and supervision on the financial market has recently been submitted to the State Duma. The document provides for amendment of the RF Code of Administrative Violations as regards assignment to the Central Bank of the Russian Federation of authorities of the Federal Financial Markets Service in respect of imposition of administrative sanctions.
The Larger the Bank the Cheaper the Loan
05 june 2013
The year 2012 was characterized by higher cost of a bank loan to borrowers of the real sector. In 2013, that trend continued.
Excessive Bureaucratic Administration is an Institutional Barrier
05 june 2013
The Business Research Center of the Higher School of Economics (HSE) has recently released the outputs of the survey of managers of 4,600 large and mid-sized enterprises. The survey was carried out in May.
Households’ Real Disposable Income Grows from the Beginning of the Year
04 june 2013
In the four months of 2013, households' real disposable income rose by 5.9% as compared to the respective period of 2012 which situation is related to growth both in wages and salaries and pensions.
Trend Towards Drop in Investments in Capital Assets Intensifies
03 june 2013
In April 2013, slowdown of economic growth was determined by weakening of the dynamics of investment demand.
Growth in Households’ Loan Debt to Banks Slowed Down
31 may 2013
On the basis of the results of April 2013, annual growth rates of households' loan debt to banks fell to 36%. Growth in unsecured loans slowed down a great deal from the peak value of over 60% in summer 2012 to 47% in the 1st quarter of 2013.
Russia has no labor force deficit
29 may 2013
There is a wide-spread point of view among experts that Russia is facing labor force deficit. In particular, Sergei Aleksashenko, Director of Macroeconomic Research at Higher School of Economics, National Research University, expressed such a view in his interview to Ekho Moskvy (Echo of Moscow) radio station on May 22. According to Aleksashenko, Russia should employ migrant labor on a large scale.
No risk control whatsoever in the consumer financing market
28 may 2013
Credit pumping as part of the growth model and institutional environment which have been established in Russia, will lead to a short-term revival of the economy, escalation of structural problems, and a crisis which would cost much more than the crisis of 2008-2009.
Russian economy is still under the threat of a recession
28 may 2013
According to the Ministry of Economic Development and Trade of Russia, GDP grew up to 2.6% in annual terms in April 2013 against 2% in March in Russia, as stated Andrei Klepach, Deputy Minister of Economic Development, on May 27. GDP increased 1.8% year on year in January thru April in 2013.
Oil and gas revenues dropped 1.7 p.p. of GDP in January thru April 2013
27 may 2013
According to the Federal Treasury, federal budget revenues amounted to Rb 4223.4bn, or 20.9% of GDP in January thru April 2013, showing a decline of 2.2 p.p. of GDP year on year.
Only a New Model of Economic Growth Can Make it Possible for Russia’s Economy to Grow at a Higher Pace
24 may 2013
On 23 May, RF First Deputy Prime Minister Igor Shuvalov stated that he saw no reasons for Russia's sovereign rating to be revised this year. He also said that ‘a recession so far has posed no threat to the Russian economy ... There is neither crisis nor recession; simply, given the current price of oil, the current rate of economic growth does not satisfy us'.
The Economic Amnesty Will Make a Difference for Ten Thousand People, At Best
23 may 2013
Last week, Boris Titov, the ombudsmen for the protection of business people's rights, submitted to the State Duma his initiative to free more than 111,000 entrepreneurs convicted of economic crimes. He suggested that the implementation of the initiative should coincide with Entrepreneur's Day on 26 May.
We Expect a Further Slowdown in the Growth Rate of Retail Crediting
23 may 2013
In the middle of last year, Russia's financial sector registered a record high growth rate of the amount of outstanding debt against loans granted to individuals.
The RF Ministry of Finance to Raise Its 2014 Budget Deficit Projection
22 may 2013
The RF Ministry of Finance is going to revise upwards its budget deficit projection for 2014 due to the expected loss of revenue in the amount of Rb 650 bn. In April, the RF Ministry of Economic Development downgraded its previous economic growth rate projection for Russia's economy in 2014 fr om 4.3% to 3.7%.