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    Russian Economy General News: #1

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    Corrosion
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    Re: Russian Economy General News: #1

    Post  Corrosion on Wed Dec 19, 2012 4:24 pm

    NickM wrote:
    Indians have a habit of invading every country in the guise of students , businessmen etc . No wonder they are NOT liked in Russia and western countries. They get killed because of this and in any case they get killed in India as well due to religious and other reasons.
    LOL.... Do you even know what an invasion is? I dont see Indian immigrants in various countries being killed because they are Indians. Dont write about some isolated incident.

    BTW GarryB, you are being missed at Key Publishing Forum. Twisted Evil

    GarryB
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    Re: Russian Economy General News: #1

    Post  GarryB on Wed Dec 19, 2012 11:45 pm

    BTW GarryB, you are being missed at Key Publishing Forum.

    Well I do miss the old times... ink and Glen and Arthur and Jonesy, and plenty more, but I also forget the frustration of putting up with the trolls who could get away with being trolls because they were picking on Russian threads.

    People who post here generally already have an interest in Russian and/or Soviet equipment so we tend to have rather more in common.

    Which is not to say it is full of yes men... but it is less stressful... it is like the difference between discussing interests as compared with a political or religious discussion... you like the colour blue and I like the colour green and that is OK.


    _________________
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    ― Samuel P. Huntington, The Clash of Civilizations and the Remaking of World Order

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Tue Jan 08, 2013 2:08 pm

    Makes an interesting read

    FORBES: Why Russia's Economy Isn't Going To Collapse

    KomissarBojanchev
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    Re: Russian Economy General News: #1

    Post  KomissarBojanchev on Wed Jan 09, 2013 5:25 am


    "Oil and Gas" are in fact thousands of kilometers of pipelines (creating massive orders for Russia's metallurgical enterprises), dozens of refineries with tens thousands of educated experts, a whole fleet of specialised ships and naval constructions (big boost to Russian shipbuilding and maritime engineering firms), countless gas power-plants all over the country with many qualified workers & professionals, production of various high-octane fuels such as Kerosene (vital for defense and civil aviation), not to mention one of the fuels for Russia's considerable chemicals industry; especially polymer & plastics production of many various kinds.

    Arent russian industrial plants very old and cause massive amounts of pollution that no one is caring to fix?


    flamming_python
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    Re: Russian Economy General News: #1

    Post  flamming_python on Wed Jan 09, 2013 9:02 am

    KomissarBojanchev wrote:

    "Oil and Gas" are in fact thousands of kilometers of pipelines (creating massive orders for Russia's metallurgical enterprises), dozens of refineries with tens thousands of educated experts, a whole fleet of specialised ships and naval constructions (big boost to Russian shipbuilding and maritime engineering firms), countless gas power-plants all over the country with many qualified workers & professionals, production of various high-octane fuels such as Kerosene (vital for defense and civil aviation), not to mention one of the fuels for Russia's considerable chemicals industry; especially polymer & plastics production of many various kinds.

    Arent russian industrial plants very old and cause massive amounts of pollution that no one is caring to fix?


    Most of them aren't that old (70s, 80s) or have been modernized in recent years. I'm sure there are some lemons though still around here or there.

    GarryB
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    Re: Russian Economy General News: #1

    Post  GarryB on Wed Jan 09, 2013 9:56 am

    Most of them aren't that old (70s, 80s) or have been modernized in recent years. I'm sure there are some lemons though still around here or there.

    [sarcasm]Oh dear... didn't you know all the factories in the west are state of the art 21st century with zero carbon emissions... that is why the US was so quick to embrace the new carbon taxes and they signed the Kyoto agreement as soon as it was suggested because they knew their production infrastructure was in perfect order and would not cost trillions of dollars to upgrade.

    It is fun living in this glass house throwing stones at Russia and China and India... [/sarcasm]


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    Re: Russian Economy General News: #1

    Post  Cyberspec on Mon Jan 14, 2013 1:14 am

    A couple of articles from a pro-Russian Lithuanian (yes, apparently they exist as well Very Happy )

    Why Russia's Economy Isn't Going To Collapse
    http://www.forbes.com/sites/markadomanis/2013/01/07/why-russias-economy-isnt-going-to-collapse/

    A Further Clarification on Russian Capital Flight from Alexander Ivlev, Managing Partner for Ernst and Young Russia
    http://www.forbes.com/sites/markadomanis/2013/01/03/a-further-clarification-on-russian-capital-flight-from-alexander-ivlev-managing-partner-for-ernst-and-young-russia/

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Mon Jan 14, 2013 5:11 pm

    Gazprom, Novatek Sign Arctic LNG Deal

    ST. PETERSBURG, January 10 (RIA Novosti) – Russian energy giant Gazprom and Russia’s largest independent gas producer Novatek have signed a deal to jointly produce liquefied natural gas (LNG) on the Yamal Peninsula in the Russian Arctic, the companies said on Thursday.

    The deal was signed by Gazprom CEO Alexei Miller and Novatek Board Chairman Leonid Mikhelson.

    Gazprom announced in late December 2012 it planned to create a joint venture with Novatek to develop the Tambei group of gas fields. Gazprom said at the time it planned to get a 75 percent stake in the joint venture while Novatek would hold 25 percent.

    Miller said on Thursday the venture, which will focus on LNG production for the Asia-Pacific region, would define the parties’ stakes and contributions by August 1 this year and will be established by the end of 2013.

    The Tambei group of gas fields on Yamal holds 1.56 trillion cubic meters of natural gas and could produce up to 20 million tons of LNG per year.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Mon Jan 14, 2013 5:18 pm

    "Comfortable" statistics or some positive statistical facts about Russia in the years 2000-2011

    T
    he following facts suggest the same source, but in a different context:

    meat production increased from 1,200 tons to 4,200 tons;
    manufacture of footwear from 33 million pairs to 111 million pairs;
    Refinery - from 173 million tons to 258 million tons;
    gasoline - from 27 million tons to 37 million tons;
    finished rolled steel - from 47 to 60 million tons;
    steam turbines from 1.3 million to 4.3 kW;
    freezers from 1.3 million to 4.1 million;
    railway freight wagons with 4 thousand to 63 thousand units.
    potato yield increased from 105 to 148 centners per ha;
    productivity of vegetables grown from 143 to 208 quintals per hectare;
    yield of grain and leguminous crops grown from 15.6 to 22.4 centners per hectare;
    gross harvest of sugar beets grown 14 to 48 million tons;
    gross yield of sunflower from 3.9 to 9.7 million tons;

    commissioning of dwellings increased 30 to 62 million m a year;

    Clearly, this is only part of one side of the coin.

    But, the above facts are collected specifically to combat those who "prefer to see" just all in black.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Mon Jan 14, 2013 5:34 pm

    The positive trade balance of Russia has grown for 11 months in 2012 by 2.3 percent to 193.4 billion dollars

    MOSCOW, January 14. / ITAR-TASS /. The positive trade balance in January-November 2012 amounted to 193.4 billion dollars, 4.4 billion more than the year before. On this day informs the FCS.

    In the trade with foreign countries balance was equal to 159.6 billion dollars / increase of $ 1.3 billion / CIS countries - 33.8 billion dollars / increase of $ 3.1 billion /.

    According to customs statistics, in January-November 2012 Russia's foreign trade amounted to 761.6 billion dollars, compared to January-November 2011 increased by 2.5 percent, including those with foreign countries - 653.9 billion dollars, with CIS - 107.7 billion.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Mon Jan 14, 2013 5:36 pm

    $193 Billion of trade Surplus in favour of Russia is quite good when Global Economy is not in good shape.

    Expect Western Economist to cry on this predicting how in 2013 Russian Economy will go slow and oil will fall ....Too bad for them though

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    Re: Russian Economy General News: #1

    Post  Viktor on Mon Jan 14, 2013 7:07 pm

    Austin wrote:$193 Billion of trade Surplus in favour of Russia is quite good when Global Economy is not in good shape.

    Expect Western Economist to cry on this predicting how in 2013 Russian Economy will go slow and oil will fall ....Too bad for them though

    Im sure they will find a way to distort those numbers or will simply not report at all until something nasty pops out Very Happy

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    Re: Russian Economy General News: #1

    Post  Austin on Thu Jan 17, 2013 12:48 pm

    US to Produce More Fuel Than Russia This Year – BP

    MOSCOW, January 17 (RIA Novosti) – The United States is expected to surpass Russia and Saudi Arabia in 2013 as the world’s largest producer of crude oil and biofuels, British oil major BP said in its latest report published on Thursday.

    The United States will overtake both Russia and Saudi Arabia in 2013 in liquids production due to rising production of shale oil and biofuels, but also due to expected OPEC production cuts, the forecast said.

    Russia will likely pass Saudi Arabia for the second place in 2013 and hold this position until 2023. Saudi Arabia will regain the top oil producer slot by 2027.

    “The US, Saudi Arabia, and Russia will supply over a third of global liquids,” the BP forecast said.

    Russia will remain the world’s largest energy exporter by 2030, with increases in exports of all fossil fuels. Net energy exports will rise by 25 percent in volume terms.

    Adjusting for expected economic growth, Russia is likely to remain significantly less dependent on energy exports than Saudi Arabia, the report said.

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    Re: Russian Economy General News: #1

    Post  Austin on Thu Jan 17, 2013 3:41 pm

    Finance Minister talks on Russia's financial prospects in 2013

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    Re: Russian Economy General News: #1

    Post  Austin on Wed Jan 23, 2013 5:58 pm

    Russia's GDP growth has a vision from 2 trillion to $ 3 trillion

    DAVOS, January 23. / ITAR-TASS /. Russia's GDP growth has a vision from 2 trillion to $ 3 trillion. This was stated in an interview with RT General Director of the Russian Direct Investment Fund / RFPI / Kirill Dmitriev.

    Speaking about the prospects for Russian GDP growth, he noted that "many people do not know that for the last five years, the Russian middle class has increased by 3 times, or, for example, that over the last 12 years, GDP per capita increased by 10 times. World few countries that have shown such growth. The Russian GDP has prospects to grow from $ 2 trillion to $ 3 trillion. "

    Commenting on the possible scenarios for Russia's development, announced at the World Economic Forum in Davos, Dmitriev said that "in our present scenario is quite pessimistic, but we believe that Russia has all the prospects for economic growth. And we consider presented scenarios in terms of what Russia should try to avoid in the future. "

    Furthermore, Dmitriev noted the importance of the regional dimension of the Russian economy. "In Russia, there is a very successful regions - Kaluga Region, for example, has attracted many foreign investors. This area, we can say, ten times more effective than other regions. So we believe that the work that different regions of Russia are done to attract investment is very important. But our private equity fund for its part, too, is investing in some key areas - such as in the construction of theaters, we also invest in health, as Russian citizens should have access to quality health care. "


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    Re: Russian Economy General News: #1

    Post  Austin on Wed Jan 23, 2013 6:04 pm

    Russian Finance Ministry saves for a rainy day



    With yet another wave of economic crisis predicted, Russia is preparing and filling up its Reserve Fund.

    Russia’s Finance Ministry is due to transfer a $30 billion surplus of gas and oil revenues to the country’s Reserve Fund following the results of budget performance in 2012. Fresh inflow will increase the reserve by about a half to bring it to $93 billion in total.

    The Fund was better prepared for the previous economic crisis. In the autumn of 2008 it was at its maximum level of $140 billion. In the following years the account was cut almost 6 times and reached its lowest level of $25 billion in 2010, as the government used almost $130 billion to covering budget spending. Over the last couple years the oil and gas surplus made up for the holes and by 2013 the reserve had $63 billion on account.

    Provisions from oil and gas surplus will keep flowing into the Reserve until it reaches 7% of GDP. Russia’s Finance Ministry expects it to reach that point by 2017.

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    Re: Russian Economy General News: #1

    Post  Viktor on Tue Jan 29, 2013 1:18 am

    Does anyone have Russia economic data for 2012 and 2013 predictions.


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    Re: Russian Economy General News: #1

    Post  Austin on Tue Jan 29, 2013 4:27 am

    Viktor wrote:Does anyone have Russia economic data for 2012 and 2013 predictions.


    Even I am looking for comprehensive data but from off my head

    2012

    Growth : 3.5 % of GDP
    Budget Deficit : None
    Inflation : 5-6 %

    2013 Prediction:

    Growth : 4 % of GDP
    Inflation: 6 %

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    Re: Russian Economy General News: #1

    Post  Austin on Tue Jan 29, 2013 4:37 am


    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Tue Jan 29, 2013 4:56 am

    The Total Reserve Fund and NAtional Wealth fund combined has huge money.

    If 2015 projection is correct it will grow to a total of $250 billion ( 8 trn roubles )


    The only way Russian Economy keeps growing is to ensure it grows 5 % of GDP on an average , for that it needs deep structural reforms , Zero Reliance on Oil Money to balance the budget , Inflation to 2-3 % and hopefully Oil Staying above $100-110 for Ural Blend.

    That way Rouble will become reserve currency in CIS region and Eurosec integration will be befecial.

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    Re: Russian Economy General News: #1

    Post  TheArmenian on Tue Jan 29, 2013 8:13 am

    The above infographic is a pessimistic situation with price of oil down 20% and lower budget revenues compared to 2012.
    In fact, oil is on the rise during 2013(January).
    Also note that GDP was growing by an average of 7% during this decade until the financial crisis. 5% per year is a realistic figure if oil prices help and world economy (particularly EU economy) stabilizes.

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    Re: Russian Economy General News: #1

    Post  Austin on Tue Jan 29, 2013 8:56 am

    Well yes those figures are conservative and its better to stick with conservative figure , any thing better is always good.

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    Re: Russian Economy General News: #1

    Post  Austin on Tue Jan 29, 2013 7:05 pm

    What wrong with Minister Kudrin he post only gloomy pictures

    $60 Oil Price Will Eat up Russia’s Oil Fund – Survey

    MOSCOW, January 29 (RIA Novosti) – Russia’s Oil Wealth Fund will be totally consumed if world oil prices plunge to $60 per barrel and stay at that level for a year, experts from the Russian School of Economics (VSE) said on Tuesday.

    That scenario presents “a shock not only for the budget system but also for the economy as a whole,” experts from the Higher School of Economics' Development Center said in their stress-test survey.

    The stark warning echoes the Precarious Stability scenario outlined by former Russian Finance Minister Kudrin at the World Economic Forum at Davos last week, which predicted an oil price plunge to $60 per barrel, forcing the Russian government to preserve social stability at the expense of economic development.

    Last week's Davos forum was presented with three broadly pessimistic scenarios for Russia’s economic development, based on a poll of over 350 Russian and foreign economists and decision-makers who warned that the Russian economy remained acutely vulnerable to world energy prices and could become more risky for investment.

    World prices for benchmark Brent crude have been hovering at about $110 per barrel in recent months, a level Prime Minister Dmitry Medvedev said was optimal for both oil consumers and producers.

    Kudrin warned on Monday that the eurozone sovereign debt crisis was continuing and the global crisis could worsen as soon as the end of this year, which would certainly cause a plunge in demand for oil and hence oil prices. That could undermine the Russian economy, which continues to depend heavily on raw material exports.

    The Russian 2013 budget is based on an oil price of $97 per barrel.

    Aside from Oil Wealth Fund depletion, “Russia’s GDP would contract by 5.9 percent compared with 2012 while budget revenues [would fall] by 3 trillion rubles ($100 billion) or 23 percent,” the VSE Development Center survey said.

    “The budget deficit would widen to 3.5 trillion rubles (6.4 percent of GDP) and the ruble’s average yearly rate would fall to 35.5 rubles to the dollar in 2013.”

    The ruble is currently trading at about 30 rubles to the dollar. Russia’s Oil Wealth Fund totaled 1.886 trillion rubles ($63 billion) at the start of 2013.


    This scenario “is not the most probable” one, considering current world economic developments, the survey said, however.

    The Development Center experts were also pessimistic about Russia’s economic performance in 2012, saying the macroeconomic data were increasingly reminiscent of the stagnation period in the Soviet economy thirty years ago.

    “The most important sectors of the economy slowed their growth from the very start of the previous year, which was related both to the deterioration in external economic conditions and the pessimism of businesses over the prospects of domestic demand and the expediency of investment in development,” the survey said.

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    Re: Russian Economy General News: #1

    Post  Viktor on Tue Jan 29, 2013 10:24 pm

    Kudrin sounds like a one of apocalypse horseman.

    I hope Russia will do better this year specially with industry sector.

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    Re: Russian Economy General News: #1

    Post  Sujoy on Wed Jan 30, 2013 8:07 am

    Russia's economy grew by 3.5% last year which is great given the fact that the world economy is still in doldrums.

    Also it's obvious that developed economies like Russia cannot expect to grow at the rate at which other BRIC nations are growing because for developing countries there are a whole lot of areas where development is required unlike developed countries.

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