The Russian Finance Ministry announced this month it has transferred last year's budget surplus to the country’s National Welfare Fund (NWF), which now amounts to about 12,200 billion rubles ($157.2 billion), or 11% of Russia’s GDP, TASS reported.
The reserve fund can be used to cover a budget deficit in...
The onset of a recession in the Russian economy this year is unavoidable, experts told Nezavisimaya Gazeta, with more pessimistic analysts predicting an up to 7% decline in GDP.
International rating agency Standard & Poor’s (S&P) forecasts a 0.8% decline in Russia’s economy. Experts told the newspaper that quarantine measures...
Russian President Vladimir Putin and U.S. President Donald Trump discussed oil and the spread of the coronavirus in a phone call on Monday, and ordered their energy ministries to hold further talks on global oil markets, Bloomberg reported.
The Kremlin did not say what exactly the ministers would discuss, but...
Russian Minister of Industry and Trade Denis Manturov has proposed to Prime Minister Mikhail Mishustin a series of urgent measures to support the consumer market for a term of six months, TASS reports citing a letter sent to the government, whose authenticity was confirmed by two sources.
The package of...
Russian President Vladimir Putin has ordered the government to outline the economic sectors worst hit by the coronavirus outbreak and launch permanent monitoring of the economic situation in order to update this list, Lenta.ru reports.
"I order to define the list of Russian economic fields, which have been the most...
The Russian and Armenian Prime Ministers, Mikhail Mishustin and Nikol Pashinyan, focused in a phone call on the measures aimed at stemming the spread of novel coronavirus and emphasized the need to maintain trade flows, the Russian government said in a statement on Saturday, TASS informs.
"The heads of government...
As fallout from the coronavirus pandemic continues to create problems the Russian economy wil become unprofitable when the dollar hit 80 rubles, experts at the HSE Development Center wrote in a study, according to Nezavisimaya Gazeta.
On the other hand, experts interviewed by the newspaper noted that some entrepreneurs might...
The company which runs the Domino’s Pizza brand in Russia and Turkey, DP Eurasia, reported a rise in its 2019 core profit, but declined to provide an outlook for this year given the uncertainty about the impact of the coronavirus outbreak, Reuters reports.
Last week, the firm had to close...
After its traditional International Women’s spike on March 8 at 501, the Watcom shopping index, which makes use of security cameras in malls to measure foot traffic in real-time has not dropped seriously and stayed at 464 during the month, bne Intellinews reports.
The index has been down over the...
