Russian economy

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 Predicted government debt of Russia to reach 21.3% of GDP

Predicted government debt of Russia to reach 21.3% of GDP

Russia's government debt will reach 21.3% of GDP by the end of 2023, RBC writes, citing to an explanatory note to the draft federal budget for 2021 and the planning period of 2022 and 2023. It is specified that the reason for this …

Does stagnation await Russian economy?

Does stagnation await Russian economy?

Russia needs GDP growth rates two to three times higher than those laid down in the economic recovery plan (2-2.5%), otherwise stagnation cannot be avoided, Sergei Grishunin, managing director of the rating service of the National Rating Agency, …

Russian Economy Recovering As Scheduled - Central Bank Chief

Russian Economy Recovering As Scheduled - Central Bank Chief

The recovery of Russia's economy following a sharp fall in the first half of the year is progressing in line with forecasts, Russian Central Bank Governor Elvira Nabiullina said on Thursday, Sputnik reports. "For the past few …

Gazprom reports massive profit slump in first half

Gazprom reports massive profit slump in first half

Russia's energy giant Gazprom announced that net profit fell 25-fold in the first half of 2020 due to the economic crisis triggered by the coronavirus pandemic and low oil and gas prices. The state-controlled group posted a net …

Russia’s GDP falls by 3.6% in January–June

Russia’s GDP falls by 3.6% in January–June

Russia’s gross domestic product (GDP) contracted by 3.6% in January–June, the Federal State Statistics Service said on a statement quoting preliminary data. On August 11, the service said that preliminary estimates showed …

Russia's labour market survived pandemic peak?

Russia's labour market survived pandemic peak?

The Russian labor market has left behind the peak of the pandemic, Russia's Labor Minister Anton Kotyakov said. The minister noted that Russia’s unemployment rate stood at 6.1% in May, an increase from 5.8% recorded in April …

Medvedev: Russia hit by three economic shocks

Medvedev: Russia hit by three economic shocks

Russia will not escape a general economic recession due to the coronavirus pandemic  and now our country is hit by three economic shocks, Deputy Chairman of the Russian Security Council Dmitry Medvedev said in his article published in …

World Bank expects Russia’s GDP to contract by 6% in 2020

World Bank expects Russia’s GDP to contract by 6% in 2020

The World Bank has worsened its outlook for the global economy in 2020, including worsening of the forecast for Russia’s gross domestic product (GDP) to a 6% contraction this year from a fall 1%, the World Bank said in its Global Economic …

Russian economy ministry predicts GDP to contract in 2020

Russian economy ministry predicts GDP to contract in 2020

Russia’s economy is on track to shrink by 5% in 2020 and the rouble will remain weak as the novel coronavirus pandemic and low oil prices hit home, the Russian ministry of economic development said. "The situation with …

Bloomberg predicts record dop in Russia's GDP

Bloomberg predicts record dop in Russia's GDP

Russia's economy will contract 16% in the second quarter, according to Bloomberg Economics. That would be the worst quarterly performance since at least the early 1990s. Russia’s overall output shrunk by a quarter last …

Russia's Sberbank says Q1 net profit nearly halves yr/yr

Russia's Sberbank says Q1 net profit nearly halves yr/yr

Russia’s largest bank Sberbank said on Thursday its net profit in the first quarter fell 46.8% in year-on-year terms to 120.5 billion roubles ($1.65 billion), Reuters reported. The bank’s net interest income rose 10.2% to …