Russian economy

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. …

Russia raises 2021 inflation forecast to 7.4%

Russia raises 2021 inflation forecast to 7.4%

Russia has raised its 2021 inflation forecast to 7.4% from 5.8%, the economy minister said on Tuesday, adding to pressure on the central bank to raise interest rates for the sixth time this year at its rate-setting meeting next week. …

Gas prices in Europe above $1,900

Gas prices in Europe above $1,900

Natural gas prices in Europe increased dramatically to over $1,900 per 1,000 cubic meters in early hours of the trading session on Wednesday, according to ICE data.

Bank of Russia increases key rate to 6.75% per annum

Bank of Russia increases key rate to 6.75% per annum

Russia’s Central Bank has again raised its key rate - by 0.25 percentage points to 6.75%, noting that it holds open the prospect of further key rate rises at its upcoming meetings, according to the press release following they key rate …

Russia to produce 506 mln tonnes of oil in 2021

Russia to produce 506 mln tonnes of oil in 2021

The volume of oil production in Russia at the end of 2021, subject to OPEC + restrictions, may reach 506 mln tons, which is 1% less than in 2020, Russian Energy Minister Nikolai Shulginov told reporters on Thursday on the sidelines of the sixth …

Putin: economic life recovers and goes back to normal

Putin: economic life recovers and goes back to normal

Economic life is recovering from the pandemic and is returning to business as usual, Russian President Vladimir Putin at the plenary session of the Eastern Economic Forum. "Such a broad representation and interest in the …

Russia’s public debt exceeds 20 trillion

Russia’s public debt exceeds 20 trillion

Russia’s public debt increased by 1.48 trillion rubles for the first half of 2021 and amounted to 20.4 trillion rubles, the Accounts Chamber said in its report on execution of the federal budget for January-June 2021.  …

Russia to get $18 bln of IMF reserves in SDR allocation

Russia to get $18 bln of IMF reserves in SDR allocation

Russia will receive about $18 billion worth of reserves from the International Monetary Fund (IMF) on Monday which will help ease an acute economic situation in the country, RBC reported. The IMF will distribute about $650 billion in …