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Russia will need more than 1 trillion roubles ($13.44 billion) of additional borrowing this year to cover the shortfall in non-oil and gas revenues, the Interfax news agency cited Finance Minister Anton Siluanov as saying on Saturday, Reuters …
Russia's Economic Development Minister Maxim Reshetnikov ruled out the probability of a default in Russia similar to the one the authorities announced in 1998. "No," the minister said, answering the …
Russia is set to spend more than 2 trillion roubles ($26.96 billion) on its anti-crisis programme to counter the effects of the coronavirus pandemic, Economy Minister Maxim Reshetnikov said on Thursday, Reuters reports. Russia has so …
Forbes magazine has compiled the rating of 200 richest Russian entrepreneurs, topping the list is head and beneficiary of Norilsk Nickel Vladimir Potanin with a fortune of $19.7 billion (up from the 6th place with $18.1 billion). …
Russian President Vladimir Putin instructed the government to provide direct gratuitous state assistance to small and medium-sized businesses in the amount of 12,130 rubles ($162) per employee, TASS reports. "In addition to …
Head of Russia’s Accounts Chamber Alexei Kudrin said that the number of unemployed in Russia due to coronavirus could temporarily increase from 2.5 mln to 8 mln people. "According to the forecast for …
International rating agency S&P Global Ratings has affirmed Russia’s rating at the investment level of BBB- with a Stable outlook, the agency said. The agency noted that the credit rating on liabilities in the local currency …
Russia is less vulnerable to external shocks linked to turbulence in energy markets than many other oil-exporting nations, according to rating agency Moody's, RT reports. The dramatic plunge in oil prices could cut fiscal revenue …
Russia’s budget will swing into a deficit this year due to the crash in oil prices and the economic impact of coronavirus, Russian finance minister Anton Siluanov said. "A decrease in energy prices has always …
The National Wealth Fund might be used to support some groups of the population, Russian President Vladimir Putin said. Interviewed for the TASS project entitled "20 Questions with Vladimir Putin" the …
According to the World Bank’s method of estimating the middle class, more than 70% of Russia’s citizens belong to the middle class, Russian President Vladimir Putin said, noting that the task of the government is to …
Russia's government may announce new economic measures this week to help offset the dual impact of low oil prices and the coronavirus, the daily Vedomosti reported citing two federal officials. It is reported that Moscow is …
Russia's budget deficit could reach 0.9% of gross domestic product (GDP) in 2020 at current oil prices, Finance Minister, Anton Siluanov told the upper house of parliament on Saturday, Reuters reports. The country's economy has …
The current share of the public sector in the Russian economy is quite reasonable at the moment, Russian President Vladimir Putin believes. The head of state recalled that less than half of Russia’s 20 largest …
Economic growth rates in Russia may decelerate to zero under the current macroeconomic indicators, head of the Accounts Chamber Alexei Kudrin said on Thursday, TASS reports. "Economic growth rates will be close to zero in this …
Russia proposed to extend the OPEC+ agreement for a year, it was other countries that initiated leaving the deal, Russian Prime Minister Mikhail Mishustin said opening a government meeting. "We did not initiate the withdrawal from …
Russian President Vladimir Putin said that the structure of the small business sector in Russia is changing gradually and becoming ever more high-tech-oriented. Speaking in an interview for the TASS project …
Russia’s capital investment in 2019 increased 1.7% in year-on-year terms to 19.3 trillion rubles ($294.1 billion), the Federal Statistics Service said today. According to the statistics service Rosstat, in the fourth quarter …
Russia is trying to shield its economy from turbulence in global energy markets, but cutting the country's reliance on oil cannot happen at once, Russian President Vladimir Putin said. "We are gradually weaning …
The current economic situation in Russia is far from ideal, but stability is the foundation for development, Russian President Vladimir Putin said. Putin compared the current climate with the situation back in 2000, …
