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    Russian Economy General News: #1

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    sepheronx
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    Re: Russian Economy General News: #1

    Post  sepheronx on Mon Jan 27, 2014 3:31 pm

    AlfaT8 wrote:Almost forgot.
    Medvedev Proposes Officials Return to State Company Boards
    Ria Novosti

    Bah, a complete uturn.

    That said, many non officials in a state run company were running the businessss to the ground in order to pocket extra change; I doubt officials could do better. Unless of course, they are being carefully watched. I say get rid of most of the non essential state run enterprises (hand out shares to the average person making it pubicly owned or sell it off entirely to be private). And only control key enterprises like defence.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Mon Jan 27, 2014 4:58 pm

    CBR head: Ruble falls on dollar, euro growth versus all EM currencies

    http://en.itar-tass.com/economy/716466


    VLADIVOSTOK, January 27. /ITAR-TASS/. Ruble decline is explained by the ongoing macroeconomic processes in the world, the chairwoman of the Central Bank of Russia (CBR) Elvira Nabiullina said in the Pozner talk show on Channel One.

    “It is not ruble weakening but dollar and euro growth versus all currencies of the emerging markets,” believes Nabiullina. “The U.S. is now gathering stable growth pace. Capital redistribution and outflow from emerging markets are underway.” Further ruble dynamics depend on Russian and global economic growth, she added.

    “Our ruble is a market currency, and its price is not fixed administratively. Now the ruble’s price is being formed by market factors,” Nabiullina said.

    Asked what currency Russian people should choose to make their savings, Nabiullina cited “the golden rule of the economy: save up in the currency you use to buy”.

    She added the CBR’s task is to “prevent sharp ruble fluctuations, giving enterprises and people time to adopt to new conditions.” Last year alone $27.5 billion was spent for this purpose.

    According to Nabiullina, there were signs the ruble may strengthen, like Russia’s being one of the few countries with a trade surplus.

    magnumcromagnon
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    Re: Russian Economy General News: #1

    Post  magnumcromagnon on Tue Jan 28, 2014 6:37 am

    Austin wrote:CBR head: Ruble falls on dollar, euro growth versus all EM currencies

    http://en.itar-tass.com/economy/716466


    VLADIVOSTOK, January 27. /ITAR-TASS/. Ruble decline is explained by the ongoing macroeconomic processes in the world, the chairwoman of the Central Bank of Russia (CBR) Elvira Nabiullina said in the Pozner talk show on Channel One.

    “It is not ruble weakening but dollar and euro growth versus all currencies of the emerging markets,” believes Nabiullina. “The U.S. is now gathering stable growth pace. Capital redistribution and outflow from emerging markets are underway.” Further ruble dynamics depend on Russian and global economic growth, she added.

    “Our ruble is a market currency, and its price is not fixed administratively. Now the ruble’s price is being formed by market factors,” Nabiullina said.

    Asked what currency Russian people should choose to make their savings, Nabiullina cited “the golden rule of the economy: save up in the currency you use to buy”.

    She added the CBR’s task is to “prevent sharp ruble fluctuations, giving enterprises and people time to adopt to new conditions.” Last year alone $27.5 billion was spent for this purpose.

    According to Nabiullina, there were signs the ruble may strengthen, like Russia’s being one of the few countries with a trade surplus.


    I think it's time for me to clear the air about the strength of currencies....it's a rigged game where hedge funds and oligarchical plutocratic financiers prop up a currency or destroy it. If your a country that's dependent on exports, they'll drive your currency in to the Ionosphere...if your a country dependent on imports then they'll drive your currency down to the pits of hell. Case in point the crisis in Greece is a complete fabrication, hedgefunds collectively ganged up on the Euro and attacked Greece as a weak flank. The Euro had been consistently gaining value over the weakening dollar up until 2010, when the hedge fund plutocratic financier oligarchy collectively attacked the Euro to make it look weak, and to save the dollar from it's slow demise:

    http://www.jstic.com/Newsgroup/WSJE/2010/WSJE_February_26th.pdf

    Hannibal Barca
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    Re: Russian Economy General News: #1

    Post  Hannibal Barca on Tue Jan 28, 2014 12:53 pm

    Eurozone countries have their own unsurpassed deficiencies. Nothing to do with a plan to destabilize them to survive. EU and USA work together in this to survive and not against each other. Greece, and I am Greek, suffered not because of a dirty plan of some selfish capitalists but because her real economy is pretty much non-existent. If not for the political and economical coverage of West, Greece would have problem at least a decade earlier already..
    Greece was crawling for years until West's top economies lost their abilities to hide the problem down the carpet.
    Italy, Spain, Portugal, Ireland fall to this category as well, is just that their problems are somewhat more manageable (but certainly not curable).
    Many more countries like France, UK, Belgium have also titanic structural problems in their economies but they are yet in the stage of coverage.
    Nevertheless they don't really reverse their own problems, just propagate them into the future, so no salvation are expected for them either.

    Viktor
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    Re: Russian Economy General News: #1

    Post  Viktor on Tue Jan 28, 2014 1:07 pm

    Viktor wrote:
    Much has been done during 2013, I hope the pace will continue and grow russia 

    Statistics: Production of cement in Russia in 2013. increased by 7.8% - to 66.4 million tons

    83 medical facilities finished in 2013

    LINK

    LINK

    130 kindergardens finished in 2013

    LINK

    LINK

    Construction of Russian seaports

    [url=Construction of Russian seaports]LINK[/url]

    199 sports facilities

    LINK

    LINK

    LINK

    New agricultural enterprises (only the biggest ones)

    LINK

    LINK

    200 medium and large new productions (51 launched with the participation of foreign investors, 134 built "from scratch")

    LINK


    Kindergardens: 195 (not all counting was finished)

    Overview kindergartens in 2013 (Part III)

    Viktor
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    Re: Russian Economy General News: #1

    Post  Viktor on Wed Jan 29, 2014 10:20 am

    Great  thumbsup 

    Russia, EU Agree to Let German Pipeline Run at Full Capacity

    zg18
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    Re: Russian Economy General News: #1

    Post  zg18 on Wed Jan 29, 2014 11:05 am

    Russia is ranked world`s 3rd by foreign investments (FDI) with $94 billion for year 2013 , after US ($159 billion) and China ($127 billion). Y-on-Y FDI growth 83%.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Wed Jan 29, 2014 11:50 am

    Indeed I was looking for stastics for FDI in 2013 linked below is some details

    http://news.xinhuanet.com/english/business/2014-01/29/c_126076489.htm

    Among BRICS 2013 FDI Stastics

    Brazil - $63 billion
    Russia - $94 billion
    India - $28 billion
    China - $127 billion
    South Africa - $10 billion

    Viktor
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    Re: Russian Economy General News: #1

    Post  Viktor on Wed Jan 29, 2014 2:41 pm

    So, its official now. 2013 GDP grew 1.4%

    Russian GDP grew 1.4% in 2013

    sepheronx
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    Re: Russian Economy General News: #1

    Post  sepheronx on Wed Jan 29, 2014 2:47 pm

    Austin wrote:Indeed I was looking for stastics for FDI in 2013 linked below is some details

    http://news.xinhuanet.com/english/business/2014-01/29/c_126076489.htm

    Among BRICS 2013 FDI Stastics

    Brazil - $63 billion
    Russia - $94 billion
    India - $28 billion
    China - $127 billion
    South Africa - $10 billion

    Why is foreign investment so low in India? I can understand South Africa but not on India.

    Viktor wrote:So, its official now. 2013 GDP grew 1.4%

    Russian GDP grew 1.4% in 2013

    Guess they will have to really go at those banks and people stealing money. As well, they need to offer incentives so companies whom are making small profit but cannot afford to modernize production (to reduce overhead costs and increase production efficiency) so be able to do so.

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    Re: Russian Economy General News: #1

    Post  Austin on Wed Jan 29, 2014 4:14 pm

    India has low FDI because many projects are caught in Legal or Environmental hurdles and sometimes combination of both.

    Poor governance makes the matter more worse.

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    Re: Russian Economy General News: #1

    Post  Austin on Wed Jan 29, 2014 4:18 pm

    Hannibal is this true  ?



    Yudaeva: for turning the ruble into a reserve currency is needed float
    http://ria.ru/economy/20140129/992035299.html

    "The ruble is already the de facto reserve currency, at least partially. Anyway, many of our neighbors who are pursuing a policy of a fixed exchange rate, cart included Russian ruble, and in this sense for them already ruble a reserve currency. Several countries have issued their assets in rubles. Accordingly, the ruble is becoming a reserve currency and a more modern sense - as the currency in which the assets are denominated in other countries ", - writes Yudaeva oversees the Central Bank monetary policy, the article on the website of the International Financial Center.

    It recognizes that to improve the role of the ruble as a reserve currency will have to develop the tools of financial market and financial infrastructure as a whole. "The decline in inflation is also one of the essential factors in the currency conversion back: high inflation makes the currency unattractive to her nomination to the assets. All reserve currencies - is a currency with a floating exchange rate (about the Chinese Yuan may speak as an exception)," - writes Yudaeva.


    She wonders whether the resource-based economy to be economies reserve currency? And what economic policy in this case should be carried out? "These issues also require us informed response. Example, Australia and Canada - two countries with the reserve currency, a floating exchange rate, a stable economy, low inflation. I think that we can not attract the same ratio of economic performance," - she muses.


    Yudaeva confirms that the Central Bank is going to refuse to intervene in the foreign exchange market to support the ruble, while noting that even central banks whose currencies are considered redundant in recent years resorted to intervention. So, two years ago the ECB during the next wave of the crisis has made the swap with the Fed and the banks credited in dollars.


    "In any case, it is clear that the issues of financial stability - one of those where the tool is being used central bank intervention in the currency markets, and we do reserve the opportunity to develop and use such tools" - adds the first deputy chairman.




    -------

    http://www.russiadefence.net/viewtopic.forum?t=2963

    Austin
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    russian economy

    Post  Austin on Wed Jan 29, 2014 5:37 pm

    Foreign direct investments in Russia grow by 16%

    http://voiceofrussia.com/2014_01_29/Foreign-direct-investments-in-Russia-grow-by-16-2340/

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    Re: Russian Economy General News: #1

    Post  Viktor on Fri Jan 31, 2014 12:28 am

    Who can explain what this means and its implications?

    Russia eases access to bond market for foreign investors

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    Re: Russian Economy General News: #1

    Post  Austin on Fri Jan 31, 2014 2:49 am

    Viktor wrote:Who can explain what this means and its implications?

    Russia eases access to bond market for foreign investors

    Means easy FII money in Stock Exchange ....but these are hot money they can come and swell in quick and go out as quickly and it happened in case of India.

    FDI is what they should target the more the merrier and money from FDI stays invested for long and helps growth and investment.

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    Re: Russian Economy General News: #1

    Post  Hannibal Barca on Fri Jan 31, 2014 11:24 am

    Austin wrote:Hannibal is this true  ?



    Yudaeva: for turning the ruble into a reserve currency is needed float
    http://ria.ru/economy/20140129/992035299.html


    "The ruble is already the de facto reserve currency, at least partially. Anyway, many of our neighbors who are pursuing a policy of a fixed exchange rate, cart included Russian ruble, and in this sense for them already ruble a reserve currency. Several countries have issued their assets in rubles. Accordingly, the ruble is becoming a reserve currency and a more modern sense - as the currency in which the assets are denominated in other countries ", - writes Yudaeva oversees the Central Bank monetary policy, the article on the website of the International Financial Center.

    It recognizes that to improve the role of the ruble as a reserve currency will have to develop the tools of financial market and financial infrastructure as a whole. "The decline in inflation is also one of the essential factors in the currency conversion back: high inflation makes the currency unattractive to her nomination to the assets. All reserve currencies - is a currency with a floating exchange rate (about the Chinese Yuan may speak as an exception)," - writes Yudaeva.


    She wonders whether the resource-based economy to be economies reserve currency? And what economic policy in this case should be carried out? "These issues also require us informed response. Example, Australia and Canada - two countries with the reserve currency, a floating exchange rate, a stable economy, low inflation. I think that we can not attract the same ratio of economic performance," - she muses.


    Yudaeva confirms that the Central Bank is going to refuse to intervene in the foreign exchange market to support the ruble, while noting that even central banks whose currencies are considered redundant in recent years resorted to intervention. So, two years ago the ECB during the next wave of the crisis has made the swap with the Fed and the banks credited in dollars.


    "In any case, it is clear that the issues of financial stability - one of those where the tool is being used central bank intervention in the currency markets, and we do reserve the opportunity to develop and use such tools" - adds the first deputy chairman.





    Yes it is. But is not as impressive as it may sound  Laughing 
    It is just that some countries with close economic ties with Russia like the CIS have parts of their deposits in Rubles. Something to be expected anyway.
    Additionally Ruble's exchange rates are certainly not stable enough unlike what this lady says.

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    Re: Russian Economy General News: #1

    Post  Viktor on Fri Jan 31, 2014 1:26 pm

    Viktor wrote:
    Much has been done during 2013, I hope the pace will continue and grow russia 

    83 medical facilities finished in 2013

    130 kindergardens finished in 2013

    Construction of Russian seaports

    199 sports facilities

    New agricultural enterprises (only the biggest ones)

    200 medium and large new productions (51 launched with the participation of foreign investors, 134 built "from scratch")

    Kindergardens: 195 (not all counting was finished)

    New schools: 102

    LINK

    LINK

    325 kindergardens finished in 2013

    LINK

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    Re: Russian Economy General News: #1

    Post  Austin on Fri Jan 31, 2014 4:26 pm

    Russian GDP to add 2-2.2%
    Economy
    January 31, 16:44 UTC+4

    Sberbank’s growth would outperform that of the market



    MOSCOW, January 31. /ITAR-TASS/. Russia’s largest bank Sberbank estimates Russian GDP growth this year at about 2-2.2%, Deputy Chairman of the bank’s board, Alexander Morozov, told journalists on Friday.

    Inflation was expected at about 5.5% and the oil price — at more than $100 a barrel, he added. The bank forecasts 11-12% growth of the banks’ corporate loan portfolio, while retail portfolio is expected to add 20-25%. Retail deposits are estimated to expand 18-19%.

    Sberbank’s growth would outperform that of the market, Morozov added.

    As reported earlier, Deputy Chairman of the Board at the Bank of Russia Mikhail Sukhov estimates that Russian banks’ corporate loan portfolio will increase by more than 10% in 2014, while retain portfolio will add less than 25%. His forecast for retail deposits’ growth is about 19%.

    Ministry of Economic Development’s official projections for GDP growth and inflation this year are 2.5% and 4.8% respectively. The CBR expects inflation at 5%.

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    Re: Russian Economy General News: #1

    Post  Austin on Fri Jan 31, 2014 4:30 pm

    In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the print, taper, print, taper talk that has led to the economic and financial chaos that finds the Financial Times opining that one should do like the Bundesbank did and demand physical delivery of your gold before your wealth becomes pixellated. In the second half, Max interviews John Mauldin, author of CODE RED: How to Protect Your Savings From the Coming Crisis, about money printing, inflation/deflation, gold prices and wages.

    http://rt.com/shows/keiser-report/episode-556-max-keiser-355/

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    Re: Russian Economy General News: #1

    Post  Austin on Fri Jan 31, 2014 4:39 pm

    Russia’s GDP makes RUB 66,689 billion in 2013
    Economy
    January 31, 18:11 UTC+4



    MOSCOW, January 31, 16:16 /ITAR-TASS/. Russia’s GDP volume has made 66 trillion 689.1 billion rubles in current prices in 2013, Russia’s State Statistics Service said on Friday.Annual GDP growth has reached 1.3%.

    The country’s GDP volume has amounted to 61 trillion 810.8 billion rubles in 2012.

    Deputy Minister of Economic Development Andrei Klepach has also made public the GDP growth estimate at 1.3% in 2013 earlier on Friday, though on Wednesday Minister of Economic Development Aleksey Ulyukayev stated that this figure had made 1.4% that corresponds to a forecast by the Ministry of Economic Development, though “it cannot be considered satisfactory anyway.”

    According Russian State Statistics Service reports, the highest year-on-year growth was reported in fisheries (3.8%), agriculture (3.2%), health care and social services (3.2%). The largest fall was reported in construction industry (2.4% down).


    How much is  66 trillion 689.1 billion rubles in USD GDP Figure ?

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    Re: Russian Economy General News: #1

    Post  Viktor on Fri Jan 31, 2014 6:14 pm

    Austin wrote:How much is  66 trillion 689.1 billion rubles in USD GDP Figure ?

    1.895 trillion $ (something does not add up)

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    Re: Russian Economy General News: #1

    Post  Austin on Fri Jan 31, 2014 6:29 pm

    Viktor wrote:
    Austin wrote:How much is  66 trillion 689.1 billion rubles in USD GDP Figure ?

    1.895 trillion $ (something does not add up)

    I suspect the devalution of rouble has caused the reduction of GDP.

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    Re: Russian Economy General News: #1

    Post  Viktor on Fri Jan 31, 2014 6:42 pm

    Austin wrote:
    Viktor wrote:
    Austin wrote:How much is  66 trillion 689.1 billion rubles in USD GDP Figure ?

    1.895 trillion $ (something does not add up)

    I suspect the devalution of rouble has caused the reduction of GDP.

    You are right, I just thought of that and went on to find the difference in question. Look here

    http://www.xe.com/currencycharts/?from=RUB&to=USD&view=12h

    31. December 2013 Rub/Dollar = 0.03043

    31. Januar 2014 Rub/Dollar = 0.02846

    which means that the same amount of Rubles would during 31.December 2013 worth 2.03 billion $

    Ruble has slided aprox 6.5% against the dollar. Now who understands the economy on the level to explain the implications of this?

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    Re: Russian Economy General News: #1

    Post  Austin on Fri Jan 31, 2014 6:52 pm

    What it would mean is the GDP wiped out around $120 Billion from economy due to devaluation . although i suspect these are just notional values.

    Could be the real impact could be felt in inflation , higher cost of import etc

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    Re: Russian Economy General News: #1

    Post  Viktor on Fri Jan 31, 2014 7:00 pm

    Austin wrote:What it would mean is the GDP wiped out around $120 Billion from economy due to devaluation . although i suspect these are just notional values.

    Could be the real impact could be felt in inflation , higher cost of import etc

    Im not sure. Amount of rubles is increasing. Money can not be wiped out because currency slided in comparison with other as same as it can not grow out of tin air because currency

    change for the better in comparison with other.

    People buying things in rubles will be just fine as long as they are buying Russian products which will become more competitive for the Russians and the rest of the world.

    Problem will be for the Russians buying foreign products as they will become more expensive.

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