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    Russian Economy General News: #6

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    sepheronx
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    Re: Russian Economy General News: #6

    Post  sepheronx on Sun Aug 30, 2015 9:37 pm

    Rosturizm: domestic tourism is growing rapidly
    http://sdelanounas.ru/blogs/66777/

    So domestic tourism increased by 30% and outpaced the goal set for 2018.

    I have been saying this would happen. While there is loss for travel agencies within Russia, this is overall good as it means the money stays within the country. Now they need to add packages and what not, to attract more foreign tourists to Russia.

    Project Canada
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    Re: Russian Economy General News: #6

    Post  Project Canada on Mon Aug 31, 2015 2:52 am

    found this video from TV Zvezda, can someone who speaks Russian provide a summary? thanks!


    higurashihougi
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    Re: Russian Economy General News: #6

    Post  higurashihougi on Mon Aug 31, 2015 6:12 am

    sepheronx wrote:Rosturizm: domestic tourism is growing rapidly
    http://sdelanounas.ru/blogs/66777/

    So domestic tourism increased by 30% and outpaced the goal set for 2018.

    I have been saying this would happen. While there is loss for travel agencies within Russia, this is overall good as it means the money stays within the country.  Now they need to add packages and what not, to attract more foreign tourists to Russia.

    I believe we can expect more or less similar growth of other sectors in the near future, after Russia finishes the restructure of the economy.

    Hard truth is that Russian economy is highly self-sufficient. The so-called sanction can't kill Russia, in fact Moskva is making full use of it to boost the domestic enterprises and further increases the self-sufficiency of the country.

    On the other hand, Russia/BRICS sanction against Western countries means... well, look at protests of European farmers since Russia imposed sanctions against EU dairy products.

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    Re: Russian Economy General News: #6

    Post  KoTeMoRe on Mon Aug 31, 2015 12:13 pm

    Neutrality wrote:
    kvs wrote:

    Whenever you hear Standard and Poor's predictions think of this credit worthiness map.   Ignore Ukraine as it is an obvious
    problem that even the S&P clowns can't deny.   But look at those deep, rich green A and AA rankings for the Baltic statelets
    and only a BB rating for Russia.   Seriously, S&P is utter crap of a ratings agency.    On what basis do they evaluate the
    debt servicing capacity of Russia?   On the 1998 default?    Russia has basically 10 times less debt compared to the EU "rich"
    countries that average debt loads over 80% of GDP.  

    That is a very intersting infographic. I'm also wondering on what basis S&P rates the Baltic states higher than Russia. Is anyone here who is up to date on the investment potential of these countries? Really curious to find out.

    Actually that's about credit rating. Which is a totally different point than Public debt. For Instance Germany's Public is at over 2.7 trillion (Euro) Debt Nominal, and about 4 trillion (Euro) of total debt. Russia's Public is at 0.244 Trillion debt and 0.55 Trillion Total. Yet the debt for Germany, that cannot sustain it (read about public deficit in Germany and Russia) is deemed far more viable than Russia's. This comes from simply a game of accountants. Germany can roll its debt (borrow amounts to repay what it own) thus pushing the actual reimbursments further. Because its economy is deemed more vital than Russia's. However in absolute terms, as Germany needs more initial input than Russia, both are diversely affected by an economic down turn. For Instance when for RUssia things get worse, they don't get worse by match and Russia shells out money to repay debt. Germany cannot go into austerity mode, because that would even more adversely affect its GDP. That's the only good thing with the dutch disease. The hard currency never stops getting in for the state.


    sepheronx
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    Re: Russian Economy General News: #6

    Post  sepheronx on Mon Aug 31, 2015 3:51 pm

    The Russian government revised their outlook. They believe gdp to fall by 3.6% this year and 1% or so next year, then growth.

    They are saying it has to do now with the Asian "crisis" and all developing countries are facing drops. Makes sense. So hopefully smarter people decide that it is time to concentrate fully in the domestic market (that also means dropping interest rates to increase business activity and consumers).

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    Re: Russian Economy General News: #6

    Post  kvs on Mon Aug 31, 2015 11:25 pm

    sepheronx wrote:The Russian government revised their outlook. They believe gdp to fall by 3.6% this year and 1% or so next year, then growth.

    They are saying it has to do now with the Asian "crisis" and all developing countries are facing drops. Makes sense.  So hopefully smarter people decide that it is time to concentrate fully in the domestic market (that also means dropping interest rates to increase business activity and consumers).

    The oil price is a good indicator that we are in a global recession. So the GDP drop is, like in 2008-2009, driven by the global economic
    decline. But NATO propagandists will take full credit for "putting the hurt on Russia".

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    Re: Russian Economy General News: #6

    Post  kvs on Mon Aug 31, 2015 11:31 pm

    KoTeMoRe wrote:
    Neutrality wrote:
    kvs wrote:

    Whenever you hear Standard and Poor's predictions think of this credit worthiness map.   Ignore Ukraine as it is an obvious
    problem that even the S&P clowns can't deny.   But look at those deep, rich green A and AA rankings for the Baltic statelets
    and only a BB rating for Russia.   Seriously, S&P is utter crap of a ratings agency.    On what basis do they evaluate the
    debt servicing capacity of Russia?   On the 1998 default?    Russia has basically 10 times less debt compared to the EU "rich"
    countries that average debt loads over 80% of GDP.  

    That is a very intersting infographic. I'm also wondering on what basis S&P rates the Baltic states higher than Russia. Is anyone here who is up to date on the investment potential of these countries? Really curious to find out.

    Actually that's about credit rating. Which is a totally different point than Public debt. For Instance Germany's Public is at over 2.7 trillion (Euro) Debt Nominal, and about 4 trillion (Euro) of total debt. Russia's Public is at 0.244 Trillion debt and 0.55 Trillion Total. Yet the debt for Germany, that cannot sustain it (read about public deficit in Germany and Russia) is deemed far more viable than Russia's. This comes from simply a game of accountants. Germany can roll its debt (borrow amounts to repay what it own) thus pushing the actual reimbursments further. Because its economy is deemed more vital than Russia's. However in absolute terms, as Germany needs more initial input than Russia, both are diversely affected by an economic down turn. For Instance when for RUssia things get worse, they don't get worse by match and Russia shells out money to repay debt. Germany cannot go into austerity mode, because that would even more adversely affect its GDP. That's the only good thing with the dutch disease. The hard currency never stops getting in for the state.


    Actually the white numbers indicate debt to GDP ratios. Many countries with this ratio approaching 100% have AAA ratings while
    8% Russia with its vast pool of resources to back every cent of this debt, is rated BB. Such ratings are totally absurd. Ratings,
    by definition, are based on the risk of not repaying loans and not being able to meet service payment deadlines. So clearly,
    Russia should be realistically rated at AAA. I have never seen these US-based ratings agencies use the 1998 default as the reason
    for the rating and if they did, people with a clue could tear them several new ones. Russia's capacity to pay in 2015 is a good
    10 times greater than in 1998. There is no way in hell Russia has less capacity to pay back loans than resource-free and dependent on
    EU handouts Estonia.

    sepheronx
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    Re: Russian Economy General News: #6

    Post  sepheronx on Tue Sep 01, 2015 12:24 am

    kvs wrote:
    sepheronx wrote:The Russian government revised their outlook. They believe gdp to fall by 3.6% this year and 1% or so next year, then growth.

    They are saying it has to do now with the Asian "crisis" and all developing countries are facing drops. Makes sense.  So hopefully smarter people decide that it is time to concentrate fully in the domestic market (that also means dropping interest rates to increase business activity and consumers).

    The oil price is a good indicator that we are in a global recession.   So the GDP drop is, like in 2008-2009, driven by the global economic
    decline.   But NATO propagandists will take full credit for "putting the hurt on Russia".

    Even nato propagandists are saying due to China.  But what they are not saying is how many countries are affected by it and how many are Russian partners.

    Europe got hit, and so did Kazakhstan and Belarus whom got hit quite hard. Then other post soviet countries. I would say that Russia is getting the least of the brunt in some cases. But what I find funny is that in 1 year, in 2009, Russia lost something like 8% of its GDP while this year and combination of next year, they don't come close to "losing" that amount. I think a significant (most) part of it really has to do with the currency exchange.

    What some are reluctant to say even in the articles posted about the GDP, is that even in all of this, Russia still has a trade surplus.

    Project Canada
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    Re: Russian Economy General News: #6

    Post  Project Canada on Tue Sep 01, 2015 1:08 pm

    Putin says dump dollar! russia

    http://www.rt.com/business/313967-putin-says-dump-dollar/

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    Re: Russian Economy General News: #6

    Post  PapaDragon on Thu Sep 03, 2015 4:24 am


    South Korea to Provide Up to $50 Mln for Vladivostok Seafood Factory

    http://sputniknews.com/business/20150903/1026523712.html



    Japan Bank Ready to Invest $100 Mln in Russian Vostochny Port Development

    http://sputniknews.com/business/20150903/1026523442.html




    Austin
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    Re: Russian Economy General News: #6

    Post  Austin on Thu Sep 03, 2015 9:35 am

    Deals worth $70 bn to be signed at Vladivostok forum


    Around $70 billion (4.7 trillion rubles) worth of contracts and agreements are likely to be signed at the upcoming Eastern Economic Forum in Vladivostok, Alexander Galushka, Minister for the Development of the Russian Far East told to journalists on Friday, August 28. “Preparatory work with investors allowed us to form a package of 200 investment projects,” he said.

    Galushka also said the Far East Development Fund would announce an investment of around 100 billion rubles in various projects.

    About 70 agreements will be signed at the forum, including 20 in the power sector and six in agriculture, and four in oil and gas, according to the minister.

    A large number of these agreements will be signed between Russian enterprises and South Korea’s Ministry of Industry, Trade and Energy and the Export-Import Bank of Korea.

    “This bank offers very good conditions,” Galushka said, adding that some companies in the Russian Far East already had debt-financing agreements with China Development Bank.


    At the forum, SIBUR and Gazprom will announce an investment of 800 billion rubles to develop a gas field in the Amur Region.

    1,500 foreign delegates will attend the first edition of the annual Eastern Economic Forum, which will be held in Vladivostok on September 3-5. Delegates are expected from Japan, Singapore, China, South Korea and Malaysia, among other countries.



    Austin
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    Re: Russian Economy General News: #6

    Post  Austin on Thu Sep 03, 2015 9:38 am

    Gazprom in space: Russian gas giant to produce satellites


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    Re: Russian Economy General News: #6

    Post  victor1985 on Thu Sep 03, 2015 10:05 am

    so basically russia make bussines with south korea that is a enemy of north ? why this thing? or is all about money and isnt military things that are share?

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    Re: Russian Economy General News: #6

    Post  JohninMK on Thu Sep 03, 2015 11:06 am

    victor1985 wrote:so basically russia make bussines with south korea that is a enemy of north ? why this thing? or is all about money and isnt military things that are share?
    Commerce can bring 'enemies' together. Russia is quite good at getting opposing sides to talk to each other. In this case it is probably as much about getting one of the US's main allies in Asia into finance and other deals with the 'ebil' Putin. This will not play well in Washington, SK ignoring sanction requests. Hope they are protecting their chemical plants.

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    Re: Russian Economy General News: #6

    Post  higurashihougi on Thu Sep 03, 2015 11:25 am

    victor1985 wrote:so basically russia make bussines with south korea that is a enemy of north ? why this thing? or is all about money and isnt military things that are share?

    Not something surprise. Commercial trade & economic relationship between countries in different "side" or different ideology is very common in this current world. Commercial relationship between Moskva and Washington DC is still very substantial disregards of all "sanction" shits.

    That doesn't mean deterioration in Russia-North Korea relationship. It just people don't refuse any chance to make money.

    And actually South Korean AA System KM-SAM was designed by Russia.

    GarryB
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    Re: Russian Economy General News: #6

    Post  GarryB on Thu Sep 03, 2015 12:32 pm

    Some countries might try to exploit the situation to make money... I think Russia is happy to make money but would also like to see a peaceful reconcilliation between north and south korea.

    But currently they are on totally different levels.

    Trade with the south makes sense because there is money to be made by both sides.

    With north korea it is more a case of pulling them out of their shell and improving ties with the south.

    A good example is the rail link starting in south korea and going through north korea to Russia and across Russia to europe.

    An important way for asian products to get to europe and a good way for north korea to open up a bit.


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    NationalRus
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    Re: Russian Economy General News: #6

    Post  NationalRus on Thu Sep 03, 2015 6:43 pm

    victor1985 wrote:so basically russia make bussines with south korea that is a enemy of north ? why this thing? or is all about money and isnt military things that are share?

    we have GOOD relations with the south diplomaticaly and economicaly while north korea is useless to us even to china its a burden

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    Re: Russian Economy General News: #6

    Post  PapaDragon on Thu Sep 03, 2015 7:35 pm

    NationalRus wrote:
    victor1985 wrote:so basically russia make bussines with south korea that is a enemy of north ? why this thing? or is all about money and isnt military things that are share?

    we have GOOD relations with the south diplomaticaly and economicaly while north korea is useless to us even to china its a burden

    Agreed, if Norks want to do business they might start with getting that railway up and running...

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    Re: Russian Economy General News: #6

    Post  Project Canada on Thu Sep 03, 2015 7:58 pm

    saw this news from western msm trying hard to downplay Russia's financial deals with China Laughing

    Putin's China visit fails to snag major project financing

    Also, US imposes sanctions against Rosoboronexport

    U.S. sanctions Russia's state-owned arms exporter Rosoboronexport

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    Re: Russian Economy General News: #6

    Post  kvs on Fri Sep 04, 2015 1:57 am

    Project Canada wrote:saw this news from western msm trying hard to downplay Russia's financial deals with China Laughing

    Putin's China visit fails to snag major project financing

    Also, US imposes sanctions against Rosoboronexport

    U.S. sanctions Russia's state-owned arms exporter Rosoboronexport

    As if Russia is desperate for foreign money. It has done quite well since 2000 with a joke level of FDI but
    you wouldn't know it by reading anything the NATO propaganda lie factory spews out.

    As for US sanctions, they are a transparent attempt to interfere with a market competitor. BTW, it is America's
    official policy to prevent the emergence of any rival nation, aka serious competitor. This is not tin foil hat BS,
    this policy could be found on the White House webpage. But that was several years ago, they could have taken it
    down.

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    Re: Russian Economy General News: #6

    Post  victor1985 on Fri Sep 04, 2015 9:19 am

    [quote="higurashihougi"][quote="victor1985"]so basically russia make bussines with south korea that is a enemy of north ? why this thing? or is all about money and isnt military things that are share? [/quote]

    Not something surprise. Commercial trade & economic relationship between countries in different "side" or different ideology is very common in this current world. Commercial relationship between Moskva and Washington DC is still very substantial disregards of all "sanction" shits.

    That doesn't mean deterioration in Russia-North Korea relationship. It just people don't refuse any chance to make money.

    And actually South Korean AA System KM-SAM was designed by Russia.[/quote]
    point is i am suprise to see on another topic that russia give to usa special unique sistems for thermonuclear reactor. looks like giving the enemy a energy tool. wich in the future may be used to power up a sub , or at a stationary emp big weapon ,or at powering lot of military facilities or.

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    Re: Russian Economy General News: #6

    Post  max steel on Fri Sep 04, 2015 3:41 pm

    N.Korea and Russia trade has also increased amid sanctions

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    Re: Russian Economy General News: #6

    Post  Werewolf on Fri Sep 04, 2015 3:57 pm

    Work for an american campony that exports industrial sensors for oil raffineries and among the customers is also russia, ukraine, belarus and kazakhstan. Maybe i should call Vlad to tell him that some of the russian companies should switch their source of temperature and pressure sensors for oil pipelines and raffineries. I mean under the exchange rate those stuff must be expensive and not really beneficial in cost/effeciency factor.

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    Re: Russian Economy General News: #6

    Post  PapaDragon on Fri Sep 04, 2015 5:53 pm


    ''Apple of My Eye: Polish Producers Have No Substitute for Russian Market''

    http://sputniknews.com/europe/20150904/1026593116/apples-produce-poland-russia-embargo.html




    ''French Farmers Demand End to Anti-Russia Sanctions - Lawmaker''

    http://sputniknews.com/europe/20150904/1026599103.html

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    Re: Russian Economy General News: #6

    Post  Austin on Sat Sep 05, 2015 7:23 am

    Just 1.3 Trillion rouble deal signed

    Some 80 agreements totalling 1,3 trillion roubles signed at EEF - Vice Premier Trutnev


    "The question how many agreements have been signed and their total sum has been asked very often. Honestly, we’ve not expected this sum. There have be a total of about 80 agreements to the sum of 1.3 trillion roubles," he said.

    Sponsored content

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