Russian economy

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Russian ruble plunges to record low

Russian ruble plunges to record low

The Russian rouble slid more than 15% against the dollar and euro at market opening in Moscow on Monday but central bank intervention arrested its fall, after it tumbled to a record low in Asian trade as harsh new sanctions were slapped on …

Russia raises key rate sharply to 9.5%

Russia raises key rate sharply to 9.5%

Russia's central bank raised its key interest rate sharply to 9.5% on Friday, increasing the cost of borrowing by 100 basis points for the second time in a row, and said a further rate increase was possible. "If the situation …

Medvedev: Russian economy can do without dollar

Medvedev: Russian economy can do without dollar

Deputy Chairman of the Russian Security Council Dmitry Medvedev believes the country can do without dollar payments if necessary, replacing them with payments in euro or yuan. "Yes, the absence of dollar payments may be replaced …

IMF lowers forecast for Russian GDP growth in 2022

IMF lowers forecast for Russian GDP growth in 2022

The International Monetary Fund (IMF) revised upward the outlook for Russia’s GDP growth in 2023 from 2% to 2.1%, IMF said in its report released on Tuesday. At the same time, IMF lowered the forecast for Russian GDP growth in …

Inflation in Russia nears six-year peak

Inflation in Russia nears six-year peak

Russia’s annual inflation accelerated to a near six-year peak of 8.38% in late November, weeks ahead of a central bank meeting where it is expected to raise rates to rein in stubbornly rising consumer prices, economy ministry data showed on …

Putin hails state’s dependence on spirituality

Putin hails state’s dependence on spirituality

Russian President Vladimir Putin said that economic successes lie at the heart of the well-being of the state, adding that the spiritual principle is also an important factor. "Of course, the economic success of the state lies at …

Putin ordered to increase the cost of living and minimum wages

Putin ordered to increase the cost of living and minimum wages

Russian President Vladimir Putin ordered to increase the cost of living and the minimum wage in 2022. The Russian president emphasized that "the social sphere is central in our state policy and one of the key priorities of the …

 Russia’s budget surplus reaches 2 tln rubles

Russia’s budget surplus reaches 2 tln rubles

Russia’s budget surplus in January-October 2021 amounted to 2.14 trillion rubles, according to the statement posted on the website of the Russian Finance Ministry.  In October, Russia’s budget surplus reached …

Russia's international reserves have broken a historic record

Russia's international reserves have broken a historic record

Russian international reserves have risen by 0.2% over the week and reached a record high of $ 621.6 billion, as it is given in the materials of the Central Bank. In total, in the period from October 15 to 22, international reserves …

Putin: European energy crisis carries risks for Russia

Putin: European energy crisis carries risks for Russia

Russian President Vladimir Putin said that the strained situation on European energy markets also carries certain risks for Russia. "The tense situation on international markets also bears certain risks for our country in the …

Russia raises key rate to 7.5%

Russia raises key rate to 7.5%

Russia’s central bank increased its key interest rate sharply to 7.5% on Friday, delivering its sixth hike this year in an effort to tame the highest inflation since early 2016, and indicated that more rate rises were still possible. …