Russia has moved up to fourth place in the global military spending rankings, Vedomosti wrote, citing a report published by Stockholm Peace Research Institute (SIPRI) on April 27. According to the report, Russia’s military expenditures stood at $65.1 billion in 2019, which is 4.5% more than in 2018.
According to...
The ride-hailing arm of Russian internet giant Yandex, Yandex.Taxi, is hoping to remain profitable in the second half of this year despite a sharp drop in sales as coronavirus restrictions keep people across the country at home, Reuters reports.
The company, part of Yandex's taxi segment, which also includes its...
International rating agency Moody’s expects that Russia’s national GDP will decline by 5.5% in 2020 but will grow by 2.2% in 2021, the agency said on Tuesday, according to TASS.
The rating agency lowered the outlook for Russian GDP growth to 0.5% on March 25 on the back of falling...
The economic crisis following the coronavirus pandemic may be worse than the global financial crisis of 2008-2009 and the state needs to quickly respond to the changing situation, the Deputy Chairman of the Russian Security Council Dmitry Medvedev said at a meeting of the presidium of the party’s general...
The Russian government is doing its utmost to support all groups of the country’s population, without distinguishing any privileged class, Russian presidential spokesman Dmitry Peskov told the media on Tuesday, according to TASS.
"No, there is no such plan and there should not be any. There are measures to support...
Desperate small and medium business owners in Russia are complaining that the government’s promised help in coping with the coronavirus lockdown has been slow to come and largely focused on big industries, AP writes.
According to entrepreneurs, most smaller companies are left to fend for themselves, and the situation raises...
Russia's retail sales rose more than expected in March spurred by panic buying ahead of the lockdown to stem the coronavirus outbreak and as the ruble's plunge boosted demand for imported goods before shelf prices increased, Reuters reported.
Retail sales, the gauge for consumer demand, Russia's key economic growth driver,...
Real disposable income of Russians was down by 0.2% in 1Q20, latest data by state statistics agency Rosstat shows, according to bne Intellinews.
Real disposable income has been in decline since 2013, finally recovering to only 1% growth in 2019, but incomes are expected to dive again in 2020 by...
Russia’s Business Ombudsman Boris Titov has called on the government to end the lockdown imposed to curb the spread of the coronavirus and reopen the economy, The Moscow Times reports.
The presidential ombudsman for companies announced Monday he will organize an online protest Friday calling for businesses to be reopened,...
