Military Forum for Russian and Global Defence Issues


    Russian Economy General News: #3

    Share

    Viktor
    Colonel
    Colonel

    Posts : 5629
    Points : 6282
    Join date : 2009-08-25
    Age : 36
    Location : Croatia

    Re: Russian Economy General News: #3

    Post  Viktor on Mon Oct 27, 2014 6:13 pm

    Nice thumbsup

    Medvedev approved passport modernization project BAM and Trans

    thumbsup

    Economic Development: Russian GDP for 9 months increased by 0.8%


    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Mon Oct 27, 2014 10:14 pm

    Investing in Russia safer than abroad — Russia's Federation Council speaker
    MOSCOW, October 27. /TASS/. Investing in Russia is safer than withdrawing money from the country, Russian Federation Council Speaker Valentina Matviyenko said in an exclusive interview with TASS.
    "I think people who are currently trying to withdraw their capitals from Russia and build a bridgehead in the West are making a big mistake. Yes, we have bureaucracy, yes, there are enough excessive restrictions for businesses, but all the same the risks are much lower here," Matviyenko said.
    She said in Russia money is protected better, while no one knows what happens to it abroad "in a year or five."
    "The rules of the game may be changed unilaterally. The origin of capitals will seem suspicious or there will be another pretext to find fault with. The accounts will be blocked, other measures will be taken and you won’t prove the truth," she said.

    Western countries may tighten sanctions against Russia — Moody’s
    "In my view, it is way more reliable to invest in domestic economy - construction of roads, housing, other large projects," Matviyenko added.
    "The government plays the role of a key investor or of a guarantor in the implementation of large-scale projects, passes laws aimed at supporting Russian products’ manufacturers during the period of the country’s adaptation to the rules of the WTO [World Trade Organization]." She said. "We would like domestic businesses to take into account interests of the country. We would like the businesses not to abuse the so-called optimization of taxes, not to channel income into offshore zones and to more actively invest in the national economy. To sum it up, we want businesses to show patriotism."
    The full text of the interview will be published on the TASS news agency's English website on October 28.

    This is still being questioned? Any person who moves their money abroad, is an idiot. Simply put, they are making a big risk. Already a lot of oligarches are screaming because they had their assets stripped/frozen in foreign countries thanks to the sanctions. And I think if someone does this, they should be given punishment. Or at least, if they lose their money, TS.

    Of course investing back home is far better and less risks. heck, doing business in Russia is not any harder than China and so many still use the concept of bureaucracy getting in the way. Yet, per year, millions (about 3 - 4) of new companies start up, only half of them survive though because of poor planning and what not, but they blame the government. So the other half survive and yet, not a complaint (besides maybe taxes, which everyone complains about everywhere).

    Austin
    Colonel
    Colonel

    Posts : 5666
    Points : 6072
    Join date : 2010-05-08
    Age : 40
    Location : India

    Re: Russian Economy General News: #3

    Post  Austin on Wed Oct 29, 2014 12:11 pm

    Rouble Fall is really Troubling , Today it still fell  42.71.

    http://www.rg.ru/2014/10/29/korzina-site.html

    It seems CBR has spent $30 Billion defending the rouble fall in October alone and in past 6 months since Jan it spent total 40 billion USD

    I wonder how low Rouble will fall till end of this year.

    Kudrin has said to stop defending rouble and let it free float next month instead of Jan 2015.

    I hope CBR does not burn USD just to defend rouble , Speculators and Hedgers are making a good time now.

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Wed Oct 29, 2014 1:15 pm

    who is it troubling for? Russian GDP had a growth in september. Industrial production is up. USD being.burned away is good as it is de-dollarization, which they want. Central Bank is doing their own thing but it never works. So they are doing currency swaps again. $50B rather than just spending USD. It is mostly to pay off debt.

    The value of USD to Ruble really doesnt matter anymore. Unless they are forced to pay their tab, which they can decide to default on. Which wouldnt make a difference since Russia is barred from western loans. So this talk of Ruble to USD is really just bogus. Only people effected are consumers who want iPhones. I think the average person can live without that. But benefit of having USD now is to pay off any debt. What a lpt dont realize is if the Ruble free floata, its value is gonna drop even further.

    A lot are de-dollarizing. Heck, even US ally UK is moving towarda a Yuan bucket.

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Wed Oct 29, 2014 2:01 pm

    Btw, austin, this should make you happy (unless your Hindu). India will increase sales of meat, specifically beef, to Russia by 2 - 3x current amount.

    magnumcromagnon
    Colonel
    Colonel

    Posts : 4468
    Points : 4659
    Join date : 2013-12-05
    Location : Pindos ave., Pindosville, Pindosylvania, Pindostan

    Re: Russian Economy General News: #3

    Post  magnumcromagnon on Wed Oct 29, 2014 5:41 pm

    magnumcromagnon wrote:As I suspected, the whole "corruption charges placed on Hungary" were nothing more than politicized non-sense directed toward Viktor Orban for not being more Russophobic:

    US diplomat tells Hungary to back EU, criticizes PM Orban over Russia stance

    So here's an update on the U.S. State Dept's concerted multilateral attack on Russia's economic ally in the EU/NATO, looks like Soros foundations have drummed up they're usuall useful idiots:

    Tens of thousands of protesters rallied in Hungary despite the government's amendment of a controversial internet tax bill. The demonstrators say the country is turning anti-democratic and drifting away from the EU.

    100,000+ rally in Hungary over internet tax despite govt concessions (PHOTO, VIDEO)


    You got to be f*cking kidding me, the EU democratic? They same EU who hand-picks their presidents oligarchical instead of actually holding democratic elections... lol1 lol1 lol1

    Viktor
    Colonel
    Colonel

    Posts : 5629
    Points : 6282
    Join date : 2009-08-25
    Age : 36
    Location : Croatia

    Re: Russian Economy General News: #3

    Post  Viktor on Wed Oct 29, 2014 10:07 pm

    Nice  thumbsup

    IMF: Russia increased its gold reserves to 1,149 tonnes

    and something interesting ...

    Superjet found the first customer in Europe

    Hannibal Barca
    Colonel
    Colonel

    Posts : 1219
    Points : 1241
    Join date : 2013-12-13

    Re: Russian Economy General News: #3

    Post  Hannibal Barca on Wed Oct 29, 2014 10:19 pm

    http://www.vlmairlines.com/vlm-airlines-to-pioneer-long-range-sukhoi-superjet-in-europe/

    Great!

    Austin
    Colonel
    Colonel

    Posts : 5666
    Points : 6072
    Join date : 2010-05-08
    Age : 40
    Location : India

    Re: Russian Economy General News: #3

    Post  Austin on Thu Oct 30, 2014 5:48 am

    sepheronx wrote:who is it troubling for? Russian GDP had a growth in september. Industrial production is up. USD being.burned away is good as it is de-dollarization, which they want. Central Bank is doing their own thing but it never works. So they are doing currency swaps again. $50B rather than just spending USD. It is mostly to pay off debt.

    The value of USD to Ruble really doesnt matter anymore. Unless they are forced to pay their tab, which they can decide to default on. Which wouldnt make a difference since Russia is barred from western loans. So this talk of Ruble to USD is really just bogus. Only people effected are consumers who want iPhones. I think the average person can live without that. But benefit of having USD now is to pay off any debt. What a lpt dont realize is if the Ruble free floata, its value is gonna drop even further.

    A lot are de-dollarizing. Heck, even US ally UK is moving towarda a Yuan bucket.

    De-Dollarisation is a nice slogan for now and it would take 10 years atleast to dedollarise the Russian Economy if they are serious about it.

    Rouble is pegged against USD/Euro basket and Rouble is Free Floating Capital Account Convertible

    So if CBR burns its currency at the rate it did in October it wont have any forex left in 8-9 months leading to 1998 financial crisis.

    Best option now and likely one is to raise interest rates from 8 % to may be 10-12 % and let rouble fully free float from November rather than Jan 2015.

    CBR cant keep defending rouble fall every time.

    Hannibal Barca
    Colonel
    Colonel

    Posts : 1219
    Points : 1241
    Join date : 2013-12-13

    Re: Russian Economy General News: #3

    Post  Hannibal Barca on Thu Oct 30, 2014 9:52 am

    Jesus you got me into this. Austin you are not very successful with women, are you?

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Thu Oct 30, 2014 1:11 pm

    Austin wrote:
    sepheronx wrote:who is it troubling for? Russian GDP had a growth in september. Industrial production is up. USD being.burned away is good as it is de-dollarization, which they want. Central Bank is doing their own thing but it never works. So they are doing currency swaps again. $50B rather than just spending USD. It is mostly to pay off debt.

    The value of USD to Ruble really doesnt matter anymore. Unless they are forced to pay their tab, which they can decide to default on. Which wouldnt make a difference since Russia is barred from western loans. So this talk of Ruble to USD is really just bogus. Only people effected are consumers who want iPhones. I think the average person can live without that. But benefit of having USD now is to pay off any debt. What a lpt dont realize is if the Ruble free floata, its value is gonna drop even further.

    A lot are de-dollarizing. Heck, even US ally UK is moving towarda a Yuan bucket.

    De-Dollarisation is a nice slogan for now and it would take 10 years atleast to dedollarise the Russian Economy if they are serious about it.

    Rouble is pegged against USD/Euro basket and Rouble is Free Floating Capital Account Convertible

    So if CBR burns its currency at the rate it did in October it wont have any forex left in 8-9 months leading to 1998 financial crisis.

    Best option now and likely one is to raise interest rates from 8 % to may be 10-12 % and let rouble fully free float from November rather than Jan 2015.

    CBR cant keep defending rouble fall every time.

    Isnt pegged. Dunno where you got that info from. Its pegged against USD in terms of trade with countries whom trade in USD, not with countries they agreed to trade amongst their own currencies. They may accet it if they export oil and gas, but who knows how long that will last.  So if Russia agreed with country x that each other currencies are tradeable in their respective currencies, then they can determin the value of each other currencies. Dumping USD has nothing to really do with this since ruble is a convertable currency.

    that is why most other are happy cause internal debt and domestic sales are done in Rubles. So dumping USD now means more ruble than was available last year. Increasing interest rates will just cause more problems in the future than so called helping anyone. It was the interest rates that has hurt more businesses than the ruble rate. Interest will always exist and interest rates here are higher, much higher, than what they claim it is.

    1998 had not much to do with forex. It had to do with a not existing gdp of around $190B tied with lack of industry and no savings, and high debt. If they lost their forex now, they wouldnt default or be in same predictament. If they decided to dedault, it would hurt foreign loaning agencies than Russia since Russia does not have access to western credit anymore anyway. Russian debt is 16% of gdp. Their forex is simply to help leviate the debt. In the end, its useless. Unless people decide they wont accept rubles. In that case, russia doesnt have to trade with them. If in case other countries want to buy from Russia (which we both know is a net exporter) then technically Russia can decide on what terms. In this case, Russian forex will always exist since they agreed to trade in their respective currencies rather than USD. Dumping USD is good in this case if it ends up useless for Russia anyway. Better get rid of it now by dumping it to maybe another currency like Yuan.

    Btw, yesterday, USD didnt sell. Lol.

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Thu Oct 30, 2014 2:10 pm

    Only obstacle I see is the WTO. Technically, it is useless since sanctions cannot be a thing under it. So in this case, Russia can forgo any formalities of the WTO and do trade as they please. Which, isnt what the Rus gocernment is wanting to do. They want easier trade. Which may work against them later unless they push the concept of trading in each other currencies rather than USD. Rial and Ruble, Euro and Ruble and Yuan amd Ruble. These I think are what has been agreed upon in trades (Rial and Ruble is the respective trade between Iran and Russia coming up). I think Russia also does Cuban and Argentina Peso for Ruble as well.

    I dont think CB methods of helping the ruble is even supported by the government. Putin made it clear sometime back he wont try to 'save' the ruble. Reason why is Russia is a next exporter and a lower ruble value means increased sales due to goods being cheaper. All depends what happens but Russia is a domestic consumer market and the value of the ruble to usd makes little difference internally.

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Thu Oct 30, 2014 2:26 pm

    http://m.rbth.com/news/2014/10/24/russia_to_move_gradually_towards_floating_ruble_rate_using_reserves_for__40878.html

    Well, we can put our minds at ease then, since Putin wants free floating currency and keeping eye on forex/gold reserves.

    As Sa'iqa
    Junior Lieutenant
    Junior Lieutenant

    Posts : 416
    Points : 352
    Join date : 2013-06-01
    Age : 22
    Location : Western Poland

    Economic freedom in Russia

    Post  As Sa'iqa on Thu Oct 30, 2014 6:52 pm

    A new Doing Business Ranking for 2015 has just been released. Russia jumped up from 64th to 62th rank overall with an increase of 1.62 points overall.

    Moldova jumped by 17 places with a +3.79 points, China jumped up by 3 places with +1.26 increase, India dropped by 2 places with +1.19 increase, Brazil jumped up by 3 places with + 0.62 point increase. US remained at the same place with a slight 0.002 increase.

    I'm now waiting for the 2015 issue of the Index of Economic Freedom. In the 2014 issue Russia sustained a moderate improvement.

    Mike E
    Colonel
    Colonel

    Posts : 2789
    Points : 2853
    Join date : 2014-06-19
    Location : Bay Area, CA

    Re: Russian Economy General News: #3

    Post  Mike E on Thu Oct 30, 2014 6:56 pm

    As Sa'iqa wrote:A new Doing Business Ranking for 2015 has just been released. Russia jumped up from 64th to 62th rank overall with an increase of 1.62 points overall.

    Moldova jumped by 17 places with a +3.79 points, China jumped up by 3 places with +1.26 increase, India dropped by 2 places with +1.19 increase, Brazil jumped up by 3 places with + 0.62 point increase. US remained at the same place with a slight 0.002 increase.

    I'm now waiting for the 2015 issue of the Index of Economic Freedom. In the 2014 issue Russia sustained a moderate improvement.
    What? They were at 92 before... That would make it a jump of 30 positions, unless we are talking about different rankings here.

    As Sa'iqa
    Junior Lieutenant
    Junior Lieutenant

    Posts : 416
    Points : 352
    Join date : 2013-06-01
    Age : 22
    Location : Western Poland

    Re: Russian Economy General News: #3

    Post  As Sa'iqa on Thu Oct 30, 2014 7:08 pm

    Methodology was changed and all results from previous years were recalculated to fit the new model. Such a huge jump may be a result of precisely that.

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Thu Oct 30, 2014 7:37 pm

    They actually added St.petersburg into the calc, which apparently doing business there is significantly easier than moscow due to local laws. Also popular destination.

    Mike E
    Colonel
    Colonel

    Posts : 2789
    Points : 2853
    Join date : 2014-06-19
    Location : Bay Area, CA

    Re: Russian Economy General News: #3

    Post  Mike E on Thu Oct 30, 2014 8:14 pm

    As Sa'iqa wrote:Methodology was changed and all results from previous years were recalculated to fit the new model. Such a huge jump may be a result of precisely that.
    Hmmm, thanks for the info...

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Fri Oct 31, 2014 3:59 am

    http://www.finmarket.ru/main/article/3851515

    October, 30th. FINMARKET.RU - A draft law on financial injections into the economy in the form of interest-free loans for the ruble bank report "Izvestia".
    Thus, the Central Bank in 2015, Russian banks issue interest-free loans of $ 25 trillion, and in 2016 - 30-35 trillion rubles. All this is due to issue the national currency - a bailout bill, amending the law "On the Central Bank," United Russia has developed, a member of the State Duma Committee on Budget and Taxes Yevgeny Fyodorov. As told to the deputy edition bill will be sent to the government next week. Thus, the proposed Russian variant "of quantitative easing" - the author was guided by the idea of ​​the US Federal Reserve experience: from the end of 2008 in the US economy, the Fed was poured about $ 4 trillion by buying securities from banks. Quantitative easing program since 2010 in Japan and are scheduled for this fall in the European Union.
    Yevgeny Fyodorov offers to make financial injections into the economy in the form of interest-free loans to the ruble, obtained from the Central Bank funds at 0% banks, according to his plan, should invest primarily in industry. The MP said that the funds will be provided to the regulator to credit institutions for a fixed period of time - for example for 3 years. After receiving their margins with investment of 3-4%, the banks will repay the interest-free loans to the Central Bank continues to Fedorov.
    In implementing the proposed scheme, he predicted, in 2015 economic growth (raising GDP) is 20%, and Russian salaries will increase by 50%. Expected in such a case, according to the canons, inflation is projected companion, will, however, in the region of 0%. The MP explained that the figure for inflation will be achieved by refocusing on Russian domestic investment - coupled with the tremendous influx of foreign investment. In addition, he noted that the money supply in Russia is not sufficient for the growth of GDP and is only half of the gross economic indicators.
    Chairman of the Duma Committee on Financial Markets Natalia Burykina, quoted by "Izvestia", believes that in order to pour into the banking system 25 trillion rubles, do not need a special bill - the Central Bank have this authority. Another question - in need of such injections, according Burykina, excess money in the economy to spur inflation, which now, according to official data, is 8.5%, and the unofficial - even higher. As noted Burykina, fight inflation can only increase the key rate, not the reset. Head of the Committee on finrynku also indicates that the realization of the idea of ​​Fedorov complicated structure of the Russian economy - money from the regulator through the banks do not reach small and medium businesses on acceptable terms - that is, banks receive funds in the Central Bank of 8%, and loans of SMEs is already under 30 %.
    The chief economist of the Russian branch of Deutsche Bank Yaroslav Lissovolik recalls that in the crisis of 2008-2009 issued by Russian banks denominated loans were converted into the currency of the banks, which increased capital outflows and a decline in foreign exchange reserves. The total gross net outflow of capital from Russia in five post-crisis years (2009-2013) amounted to about $ 280 billion. According Lisovolik, the risk that the interest-free loans to the Central Bank will be converted into US banks, rather than focus on the development of the industry, will be high. The expert also noted that the key rate at zero to achieve zero inflation impossible - to combat rising prices can only rise in the index.
    Analyst Alex Viazovsky believes that quantitative easing program have a chance only under certain conditions. So, you need to enter the country soft currency control - get exporters to sell in the domestic market foreign exchange earnings, impose large cross-border flows of speculative Tobin tax (0.1% of the financial transactions in shares and bonds and 0.01% - derivatives), yet harder to control currency position of the banking system.
    Ministry of Economic Development "News" reported that the assessment of the needs of the banking system's liquidity - the competence of the Central Bank. In Central Bank declined to comment on the initiative of United Russia.

    If true, this is interesting.

    kvs
    Colonel
    Colonel

    Posts : 2515
    Points : 2648
    Join date : 2014-09-11
    Location : Canuckistan

    Re: Russian Economy General News: #3

    Post  kvs on Fri Oct 31, 2014 4:05 am

    This perceptions based index is still a joke since it ranks Russia in the same group as most 3rd world countries. I wonder
    what these clowns will do to Ukraine's ranking. It will probably shoot up to 30. These indices are a propaganda inanity.
    Another one of them is the one from "Transparency International" (as if they are transparent themselves) which has the
    absurd "corruption perceptions index" that ranks Russia below India and Mexico.

    I have nothing against India or Mexico, but we are talking about alleged "objective" metrics. India was the country
    were $14 billion (that is right: BILLION) worth of food aid was stolen by corrupt local administrators and sold for profit.
    There are public works projects that are clearly stalled by corruption since it acts like a sieve and diverts resources away
    from productive work. There are no such examples in super corrupt Russia.

    Russia has plenty of corruption and doing business is not easy and relaxing. But these indices are designed to distort
    reality and blow these problems way out of proportion. If Russia was 62nd it would not have so many production plants
    being opened by foreign companies and joint ventures. See sdelanounas.ru for a continuous stream of such news, which
    you will never hear from the western media.

    Austin
    Colonel
    Colonel

    Posts : 5666
    Points : 6072
    Join date : 2010-05-08
    Age : 40
    Location : India

    Re: Russian Economy General News: #3

    Post  Austin on Fri Oct 31, 2014 5:17 pm

    As i said CBR will raise interest rate and they did today , I am not sure if this is the only thing they need to do from Rouble falling.

    Russia raises interest rate sharply as rouble slides, inflation climbs





    * Central bank raises main lending rate to 9.5 pct from 8 pct

    * Large rise reflects concern over falling rouble, inflation

    * Rouble down nearly 2 pct after rate move

    * Analysts say more steps may be needed

    * Bank leaves intervention policy unchanged (Adds details and comment)

    Austin
    Colonel
    Colonel

    Posts : 5666
    Points : 6072
    Join date : 2010-05-08
    Age : 40
    Location : India

    Re: Russian Economy General News: #3

    Post  Austin on Fri Oct 31, 2014 6:38 pm

    Klepach: "Europe can no longer be trusted"

    http://ru-facts.com/news/view/40582.html

    sepheronx
    Colonel
    Colonel

    Posts : 7302
    Points : 7612
    Join date : 2009-08-06
    Age : 27
    Location : Canada

    Re: Russian Economy General News: #3

    Post  sepheronx on Fri Oct 31, 2014 11:00 pm

    Austin wrote:As i said CBR will raise interest rate and they did today , I am not sure if this is the only thing they need to do from Rouble falling.

    Russia raises interest rate shiarply as rouble slides, inflation climbs



    * Central bank raises main lending rate to 9.5 pct from 8 pct

    * Large rise reflects concern over falling rouble, inflation

    * Rouble down nearly 2 pct after rate move

    * Analysts say more steps may be needed

    * Bank leaves intervention policy unchanged (Adds details and comment)

    Goes to show that central bank has no idea what they are doing. Ruble was increasing in value again as USD and EUR were droping. After increasing interests, value drops? Hahaha.

    That said, if what I posted above is true, we may see a Russian QE where they have 0% interest in the future. Dont know if this will create more problems or not. But so far, at least Russia has not seen interest rates like 18% like we had here in Canada. But those interest rate numbers are not good.

    kvs
    Colonel
    Colonel

    Posts : 2515
    Points : 2648
    Join date : 2014-09-11
    Location : Canuckistan

    Re: Russian Economy General News: #3

    Post  kvs on Fri Oct 31, 2014 11:45 pm

    Austin wrote:Klepach: "Europe can no longer be trusted"

    http://ru-facts.com/news/view/40582.html

    The moron who pasted the text at ru-facts.com should be shot.

    Klepach is monetarist true believer:

    We need deregulation, promotion of small and medium-sized enterprises, easing of fiscal and monetary policies & mdash; government still resisted it & mdash ;, and also stimulate the economy

    The monetarist mantra. But as usual the Devil is in the details. The EU has many regulations as does Canada and even the USA.
    But the mantra implies no regulation.

    kvs
    Colonel
    Colonel

    Posts : 2515
    Points : 2648
    Join date : 2014-09-11
    Location : Canuckistan

    Re: Russian Economy General News: #3

    Post  kvs on Fri Oct 31, 2014 11:48 pm

    sepheronx wrote:
    Goes to show that central bank has no idea what they are doing. Ruble was increasing in value again as USD and EUR were droping. After increasing interests, value drops? Hahaha.

    That said, if what I posted above is true, we may see a Russian QE where they have 0% interest in the future. Dont know if this will create more problems or not. But so far, at least Russia has not seen interest rates like 18% like we had here in Canada. But those interest rate numbers are not good.

    There are way too many monetarists in charge in Russia. Putin the "tyrant" should remove them. The CBR is following a political dogma
    and not rational policies. Russia does not need to jack up interest rates to prop up the ruble. It Needs to sell its oil and gas in rubles and
    force demand. Around $350 billion dollars worth of ruble demand each year would stabilize it toute de suite.

    Sponsored content

    Re: Russian Economy General News: #3

    Post  Sponsored content Today at 9:37 pm


      Current date/time is Mon Dec 05, 2016 9:37 pm