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    Russian Economy General News: #7

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    Bidoul

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    Re: Russian Economy General News: #7

    Post  Bidoul on Sun Jan 31, 2016 3:41 am

    sepheronx wrote:Too bad for them.  I bank in CAD since I live in Canada.  I never bothered to grab loans in USD or Euro.  So the CAD dropped in value heavily and I still owe same amount on my house.

    But it seems Russian gov is gonna bail them out anyway.  I guess they have a softer heart than most in the west.  Hope people do not try to take advantage of this.

    Edit:

    Just some recent economic data

    Anyone selling loans in foreign currency to regular individuals should be shoot.

    It's was great fad in Eastern Europe.
    There are maybe a million people that have taken some, be they in € in Switz Francs or in USD and all are essentially destitute and/or on personal bankruptcy/gov assistance of some kind today.
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    sepheronx

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    Re: Russian Economy General News: #7

    Post  sepheronx on Sun Jan 31, 2016 7:23 am

    Bidoul wrote:
    sepheronx wrote:Too bad for them.  I bank in CAD since I live in Canada.  I never bothered to grab loans in USD or Euro.  So the CAD dropped in value heavily and I still owe same amount on my house.

    But it seems Russian gov is gonna bail them out anyway.  I guess they have a softer heart than most in the west.  Hope people do not try to take advantage of this.

    Edit:

    Just some recent economic data

    Anyone selling loans in foreign currency to regular individuals should be shoot.

    It's was great fad in Eastern Europe.
    There are maybe a million people that have taken some, be they in € in Switz Francs or in USD and all are essentially destitute and/or on personal bankruptcy/gov assistance of some kind today.

    The question is, what is Poland's government doing? Are they going to bail out all those people who purchased homes in Swiss Francs?

    I agree, imprison the bankers who did this.

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Sun Jan 31, 2016 7:36 am

    sepheronx wrote:Thanks man.  I appreciate that.  I was also hoping you would be able to contribute to it.  I am trying to get others involved besides just George and myself, like you and KVS.

    I would like to but past few month have been busy and I am anticipating that for couple of months , Even the promised S-500 write up is in deep freeze , But hope to post here and possibily you can use some data from here. Thanks
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    sepheronx

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    Re: Russian Economy General News: #7

    Post  sepheronx on Sun Jan 31, 2016 7:38 am

    Austin wrote:
    sepheronx wrote:Thanks man.  I appreciate that.  I was also hoping you would be able to contribute to it.  I am trying to get others involved besides just George and myself, like you and KVS.

    I would like to but past few month have been busy and I am anticipating that for couple of months , Even the promised S-500 write up is in deep freeze , But hope to post here and possibily you can use some data from here. Thanks

    Now what could be more important than us?

    Alright man. Whenever you want to, just ask and I can set you up a profile to do so.

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Sun Jan 31, 2016 7:38 am



    John Exter Inverse Expansion Pyramid
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    GarryB

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    Re: Russian Economy General News: #7

    Post  GarryB on Sun Jan 31, 2016 8:59 am

    But it seems Russian gov is gonna bail them out anyway. I guess they have a softer heart than most in the west.

    You are being unfair Seph... the US government gave 750 billion to an unfortunate section of the community that was aflicted by loans they could not service themselves.

    ...of course in order to qualify for such sympathy you needed to have a job title like Bank Manager... and all your sins are forgiven and they throw money at you like they are printing it themselves... oops hang on.... they are... Embarassed


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    Rmf

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    Re: Russian Economy General News: #7

    Post  Rmf on Sun Jan 31, 2016 3:42 pm

    too bad for those people. but they risked with lower interest rates and went speculative.
    if foreign currency was lower then before they would be gloating how smart they are.
    state didnt force them to take any credits!!
    so they must suffer and learn hard way. you can cancel credit and return to the bank the house anyway.
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    sepheronx

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    Re: Russian Economy General News: #7

    Post  sepheronx on Sun Jan 31, 2016 3:51 pm

    Rmf wrote:too bad for those people. but they risked with lower interest rates and went speculative.
    if foreign currency was lower then before they would be gloating how smart they are.
    state didnt force them to take any credits!!
    so they must suffer and learn hard way. you can cancel credit and return to the bank the house anyway.
    At the expense of destroying your credit score, making getting a new mortgage in the future very difficult.  But you are correct, they played speculator and they got burned. But none of that matters now cause gov is gonna play good guy and help these morons out.  Instead of letting them get a real taste of democracy and freedom.

    @ Garryb
    Lol, yeah, you are right.  It will eventually come back to haunt them.

    Karl Haushofer

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    Re: Russian Economy General News: #7

    Post  Karl Haushofer on Sun Jan 31, 2016 8:24 pm

    Western media says that Gref is coming back to Russian government.
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    sepheronx

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    Re: Russian Economy General News: #7

    Post  sepheronx on Sun Jan 31, 2016 8:56 pm

    They said same thing about Kudrin.  That turned out to be BS.

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Mon Feb 01, 2016 5:56 am

    Both these people are useful idiots to Western MSM but as long as Russian Intel can use them it is good

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Mon Feb 01, 2016 5:58 am

    Read this interview in full ,Deputy finance minister Maxim Oreshkin says US Market may collapse due to slow growth and predicts a hard landing for China also many thing on Russian Economy

    http://www.kommersant.ru/doc/2896207

    JohninMK

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    Re: Russian Economy General News: #7

    Post  JohninMK on Mon Feb 01, 2016 6:00 pm

    If this happens it is an interesting precedent. It could be applied more widely.

    MOSCOW (Sputnik) — The owners of assets set to be privatized in Russia must be under Russian jurisdiction, President Vladimir Putin said Monday. "The new owners of privatized assets must be under Russian jurisdiction. Semi-legal schemes, transfer of assets to offshore, concealing share owners is unacceptable," Putin said at a meeting on privatization.

    Last week, Russia's Deputy Minister of Economic Development Oleg Fomichev stated that the country's government had drafted an anti-crisis plan that includes "major privatization." First Deputy Prime Minister Igor Shuvalov stated earlier that Russian authorities are considering an ambitious privatization plan for 2016.


    Read more: http://sputniknews.com/russia/20160201/1034041992/privatization-putin-statement.html#ixzz3yw7XxFRW
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    magnumcromagnon

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    Re: Russian Economy General News: #7

    Post  magnumcromagnon on Mon Feb 01, 2016 6:26 pm

    Excellent import substitution news:

    Up to 26 billion. Dollars was food imports in 2015. This is a decline from 40 billion. Dollars in 2014.

    Reduced import dependence Russia

    Tatarstan has mastered the production of more than 2,000 items of spare parts for imported agricultural machinery
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    Kimppis

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    Re: Russian Economy General News: #7

    Post  Kimppis on Tue Feb 02, 2016 5:18 am

    magnumcromagnon wrote:Excellent import substitution news:

    Up to 26 billion. Dollars was food imports in 2015. This is a decline from 40 billion. Dollars in 2014.

    Reduced import dependence Russia

    Tatarstan has mastered the production of more than 2,000 items of spare parts for imported agricultural machinery

    Western MSM/The Daily Beast:

    "Putin's regime doesn't have the money to feed its own population: Russi... Putin's food imports have dropped dramatically - famine imminent"
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    max steel

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    Re: Russian Economy General News: #7

    Post  max steel on Tue Feb 02, 2016 7:27 am

    Inflation dropped by 3%. In my point of view one of main problems in Russia is the low level of saving and with the western financial sanctions the Russian corporations have to deleverege their debt positions in dollars. They already partially did during 2015. It was achived a great result (it was pay back over 170 billion dollars) but the corporate extetnal debt is still quite hight and for paying it it is necessary more saving and high interest rate. In the second half of 2016 the situation will be stabilised and the interest rate will be down by 3-4%.

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Wed Feb 03, 2016 7:27 am

    Russia’s 2015 GDP dropped 3.7% — Federal Statistics Service

    http://tass.ru/en/economy/854032

    MOSCOW, February 2. /TASS/. The decline of Russia's GDP in 2015 amounted to 3.7%, the Russian Federal Statistics Service (Rosstat) said Tuesday, thus confirming its preliminary forecast. The GDP in 2015 at current prices amounted to 80.41 trillion rubles ($1.01 trillion).

    According to Rosstat, the largest increase at the end of last year was recorded in agriculture (3.5% yoy), the activities of households (1.4%), mining (1.1%), as well as the field Health and Human Services. services (+ 0.3%). The largest drop was noted in the segment of wholesale and retail trade (-10.1%), construction (-7.5%), manufacturing (-5.5%), hotels and restaurants (-5.2%).

    The share of final consumption expenditure in the Russia’s GDP at the end of 2015 was 71.6%, which is 0.6 percentage points less than in 2014 (72.2%). This was due to a decrease in the share of household expenditure by 0.6 percentage points - to 52.6% in GDP. In turn, the share of net export in GDP increased by 1.4 percentage points up to 8%. In monetary terms, household expenditures totaled 43.3 trillion rubles ($548.12 bln) against 41.43 trillion rubles ($524.4 bln) last year, state administration - 15.48 trillion ($196.04 bln) against 14.61 trillion rubles ($185.02 bln). Earlier, Economic Development Minister Alexey Ulyukayev estimated decline of Russia's GDP at 3.9%.

    More:
    http://tass.ru/en/economy/854032
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    higurashihougi

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    Re: Russian Economy General News: #7

    Post  higurashihougi on Wed Feb 03, 2016 8:15 am

    https://www.rt.com/business/330984-russia-privatization-state-compainies/

    Kremlin to finalize list of state-owned firms for privatization

    The Russian government expects to get more than a trillion rubles ($12.8 billion) from the first round of state enterprise privatizations, reports business daily Vedomosti, citing unnamed federal officials.


    State-owned shares in Rostelecom, Transneft, Aeroflot, Rosneft, Sovcomflot and several other companies are among the possible assets for sale.

    The privatization plan assumes realizing assets worth 33 billion rubles ($424 million). However, the government is ready for a bigger sale as a result of problems with the budget, which could be reduced by 10 percent due to falling oil prices.

    The decision might be taken this week at the meeting with Russian President Vladimir Putin. Vedomosti reports that the Economic Development Ministry’s plan put forward at the end of 2015 has the President's support.

    "The final decision has not been made, specific companies or shares in these companies were not determined. The president instructed the government to finalize the list after the criteria was set, so that there would be an opportunity to once again meet with him in more substantive terms in some format," said Kremlin spokesman Dmitry Peskov.

    On Monday, President Putin said all the privatization deals should be fully transparent with assets sold at realistic, not discount prices. He also said the state should retain control over strategic enterprises to prevent privatized assets leaving Russian jurisdiction.

    The privatization plan was approved by the government two years ago and assumed the state exiting such enterprises as Rosnano, Rostelecom, Rosspirtprom, the United Grain Company, Sheremetyevo International airport and several others. It also suggested a significant reduction in the government holding in Alrosa, Aeroflot, Russian Railways, RusHydro, Transneft and VTB.

    The government could also sell shares in oil majors Rosneft and Bashneft, according to Vedomosti.

    According to Economic Development Minister Aleksey Ulyukaev Russia should kick-off privatization as soon as possible.

    “The budget situation is very critical; the general turbulence of the financial markets does not give reasons to expect some rebound, recovery. Now the challenge is to make… efficient and transparent deals, when the market is extremely unfavorable," he said.

    In November, Finance Minister Anton Siluanov said he was considering the possibility of Rosneft’s privatization in 2016 as a source of covering the additional costs of the Reserve Fund.

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Wed Feb 03, 2016 6:07 pm

    CB: Net capital outflow from Russia in 2016 will slow to $ 35-45 billion'

    http://ria.ru/economy/20160203/1369275600.html



    "The trends that emerged in the financial account balance of payments in 2015, should be strengthened in 2016. They should lead to a further significant reduction in net capital outflows in absolute terms - to about 30-45 billion dollars in 2016. Moreover, in the risk scenario the net capital outflows may be even less than in the base "- the study says.
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    PapaDragon

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    Re: Russian Economy General News: #7

    Post  PapaDragon on Fri Feb 05, 2016 1:55 am


    ''Khamenei's top aide says Tehran, Moscow ink $40 billion in projects: agencies''

    http://news.yahoo.com/khameneis-top-aide-says-tehran-moscow-ink-40-133515863.html
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    higurashihougi

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    Re: Russian Economy General News: #7

    Post  higurashihougi on Fri Feb 05, 2016 10:39 am

    Not very relevant but... Twisted Evil Twisted Evil


    Karl Haushofer

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    Re: Russian Economy General News: #7

    Post  Karl Haushofer on Fri Feb 05, 2016 12:35 pm

    PapaDragon wrote:
    ''Khamenei's top aide says Tehran, Moscow ink $40 billion in projects: agencies''

    http://news.yahoo.com/khameneis-top-aide-says-tehran-moscow-ink-40-133515863.html
    All I see is that Russia loans Iran $40 billion and Iran will use this money to purchase Western goods.
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    KoTeMoRe

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    Re: Russian Economy General News: #7

    Post  KoTeMoRe on Fri Feb 05, 2016 12:52 pm

    Karl Haushofer wrote:
    PapaDragon wrote:
    ''Khamenei's top aide says Tehran, Moscow ink $40 billion in projects: agencies''

    http://news.yahoo.com/khameneis-top-aide-says-tehran-moscow-ink-40-133515863.html
    All I see is that Russia loans Iran $40 billion and Iran will use this money to purchase Western goods.

    It's called a Loan. Given Iran has gas and Oil to boot, the deal is green backed. It's a good deal between strategic partners.

    Austin

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    Re: Russian Economy General News: #7

    Post  Austin on Fri Feb 05, 2016 1:09 pm

    Russia’s foreign trade surplus down by $48.9 bln in 2015 to $161.4 bln — customs service

    More:
    http://tass.ru/en/economy/854797

    MOSCOW, February 5. /TASS/. Russia’s foreign trade surplus decreased by 33% ($48.9 bln) in 2015 to $161.4 bln, according to the documents published by the Federal Customs Service.

    Russia’s export dropped by 31.1% to $345.9 bln in 2015 compared with 2014 while import went down by 36.7% to $184.5 bln in the reporting period.

    In 2015, Russia’s external turnover totaled $530.4 bln, a 33.2% decrease compared with 2014.

    The European Union (EU) is still Russia’s leading economic partner as it accounted for 44.8% of Russia’s trade turnover (48.1% in 2014) while the CIS countries - for 12.5% (12.3%), the Eurasian Economic Union member-states - for 7.8% (7.1%) and the APEC member-states - for 28.1% (26.9%).


    More:
    http://tass.ru/en/economy/854797
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    sepheronx

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    Re: Russian Economy General News: #7

    Post  sepheronx on Sat Feb 06, 2016 5:24 am

    Russia reoriented to import cars for export
    The number of Russian cars sent for export, increased in 2015 by 2.5 times (to 97.4 thousand units.), Trucks - by 6.3% (up to 20 thousand pieces.). The total value of exports sent to passenger cars exceeded $ 1.1 billion, truck - $ 451 million. wrote:

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    Re: Russian Economy General News: #7

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