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Russia's Ministry of Economic Development has published a new prediction of the economic situation for the next three years, assuming the Western sanctions will remain in place to the end of this period. This year, the economy …
The World Bank expects Russia’s economy will expand moderately over the next three-year period, with growth rates are seen at 1.3% and 1.4%. "We expect the Russian economy to grow 1.3% in 2017 and 1.4% both in 2018 and …
International rating agency Moody's expects Russia’s GDP to grow annually by 1.5% in 2017 and 2018, the agency said in a press release. "Moody's forecasts that real GDP growth will increase by 1.5% per year in 2017 …
Russian Economic Development Minister Maxim Oreshkin said that the data for the first months of this year indicate that the Russian economy has entered a new phase of growth. However, in order to increase it, it is necessary …
The GDP of Georgia in 2016 amounted to $14.3 billion, exceeding the previous year’s figure by 2.7%, according to the information of the National Statistics Office of Georgia 'Geostat'. The GDP deflator was 4%. 9.9% of GDP …
Russia is considering raising value added tax but lowering mandatory social security payments, the country's Finance Minister Anton Siluanov said today, speaking at an economic conference in Moscow. Siluanov said …
Georgia placed 108th among 189 world’s richest and the poorest countries in the world in 2016, surpassing only Armenia in the region, according to the monthly magazine Global Finance. The publication made a list, based on the IMF …
The Russian Ministry of Finance and the Ministry of Economic Development are discussing plans to limit cash payments in a bid to combat Russia’s “shadow economy.” The new measures could include a ban on …
The International consulting firm PricewaterhouseCoopers (PwC) presented the report titled 'The Long View: How will the global economic order change by 2050?', where its experts said that Russia will become the leading European …
Russia’s GDP reduction amounted to 0.2% in 2016, but dynamics turned positive in the fourth quarter of 2016, the Central Bank reported. "In 2016, GDP reduction amounted to 0.2%. In the fourth quarter, GDP turned …
Higher oil prices may help boost expansion
The Russian government is discussing a retirement age increase by 3 months a year for men under 65 and for 6 months a year for women under 60 starting from 2019, the Director of the Russian Pension Fund, Anton Drozdov, said. …
The Russian economic situation improved in 2016 as compared with the last year, and the economy will expand about 1% in 2017, the Economic Development Minister Alexei Ulyukayev said at a meeting with Italian businessmen. …
Russia’s Sberbank sees some signs of stabilization of the national economy amid rising oil prices and the strengthening of the ruble, the head of Sberbank German Gref said. This makes it possible to predict the …
Uncounted by statisticians and invisible to tax collectors, about 30 million people plies its trade in the nooks and crannies of what’s become known as the “garage economy.” There, professions such as mechanics, builders, …
The International Monetary Fund (IMF) has improved the outlook for the Russian economy. In April 2016, the IMF said that Russia’s economy could decline by an additional 1.8% this year, in May it improved its outlook on Russia’s GDP …
The Russian Minister of Economic Development Alexei Ulyukayev published an article titled 'What to do next? in the Vedomosti newspaper today. He outlined there his program of actions which would allow the Russian economy to grow every year by 7%, as it was in the early 2000s. The Minister bases his arguments on the premise that the world economy has changed dramatically and only those developing countries that are able to adapt to these changes will keep high growth rates. "In this situation, Russia's economic policy should be aimed at increasing the potential growth, which can be achieved through better use of labor resources, accumulation of capitals through the growth of investments and increasing productivity," Ulyukayev believes.
Rating agency Fitch Ratings has worsened its forecast of Russia's GDP for the current year. Previously, its experts had expected growth of this indicator by 0.5%, but now they believe that on the contrary, it will decrease by …
Moody's Investors Service has revised down its GDP growth forecasts for the Russian economy. Previously, experts predicted Russia's GDP will drop by 1%, now they expect the growth will fall by 2.5%. It was done …
The former Russian finance minister Alexei Kudrin said in Davos that the peak of the crisis in Russia is still ahead. "The year of 2016 carryies risks. Neither presidential aides nor I expected this kind of oil price …
