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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, …
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 …
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 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 …
Fitch Ratings has maintained Russia’s investment grade level with a stable outlook, becoming the second of the “Big Three” credit rating agencies to keep the country’s overview intact amid the coronavirus crisis. …
Russian President Vladimir Putin in his message to the nation, thanking the country's citizens for the dignity they demonstrated during the most dangerous stage of the COVID-19 epidemic. "Just three months have passed. …
No final decisions have yet been made to change the personal income tax rate, its increase for wealthy Russians is one of the topics under discussion, Presidential spokesman Dmitry Peskov told reporters on Thursday, TASS reports. …
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 …
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 …
Russia's central bank chairwoman Elvira Nabiullina said she expects that the Russian economy will be recovering during several quarters. "We all understand that the consequences of the epidemic will not disappear …
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 …
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 …
In the conditions of restrictions on the work of enterprises due to the pandemic, Russian business needs government support more than ever, and first of all, it requires long-term loans at low rates that will help compensate for the drop in …
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 …
May 11 in Russia ends a period of severe restrictions and non-working days. The vice-rector of the Academy of Labor and Social Relations Alexander Safonov spoke about the socio-economic results of this period, which began on March 30, to the …
Russian Prime Minister Mikhail Mishustin signed a decree freeing regions from budget payments due to the COVID-19 pandemic. According to the document, in 2021–2024, entities will have to pay five percent of the …
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 …
It plans to start more active development of its railway and port infrastructure
Recovery of a number of sectors of the Russian economy after the crisis will take more than a year, Head of the Russian Accounts Alexey Kudrin said in an interview with Rossiya 1, TASS reports. "For some sectors, indeed, it will …
Economic Advisor to the President of the Russian Federation Maxim Oreshkin named the main problem of the Russian economy that right now is a priority for the authorities. "The president constantly repeats that the authorities, …
