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    Russian Economy General News: #7

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    Khepesh
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    Re: Russian Economy General News: #7

    Post  Khepesh on Tue Nov 15, 2016 11:13 am

    I agree with Zyuganov that Ulyukayev should be shot, but it is more than him, it is all of those who since 1991 have been enriching themselves by stealing from the state, the people. Corruption at state level should be classed as not economic crime, but treason.

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    Re: Russian Economy General News: #7

    Post  kvs on Tue Nov 15, 2016 11:20 pm

    So the monetarist minister of the economy has been brought down. It looks like the move against the 5th column monetarist faction
    occupying Russian finance is starting.

    I hope they purge the Central Bank. Time to set the interest rates at 5% (CPI-2%) as in the west.

    Austin
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    Re: Russian Economy General News: #7

    Post  Austin on Wed Nov 16, 2016 7:22 pm

    VIDEO: Jim Rickards Describes Coming Shut Down of US Financial System

    Jim Rickards,the chief global strategist at West Shore Group, appeared on Bloomberg Markets to discuss the next financial crisis. Rickards said he sees next US downturn approaching a tipping point soon. However, the Federal Reserve’s response to restoring financial solvency will be much different because there’s no place left to go with monetary policy.

    “The next time, they’re not going to print the money because they’re tapped out,” he states. “They’re going to lock down the system.” In a move Rickards refers to at the “bail in, lock down” plan, large sections of the financial sector will be deactivated to avoid bank runs and complete collapse. Rickards describes some of the more likely scenarios:

    “Money market funds will suspend redemptions, bank ATMs can be reprogrammed to give you $300 per day for gas and groceries; they can selectively shut down the banks. We saw it in Greece. We saw it in Cyprus; we’re seeing it today in India. The banks are closing. They’re out of cash.”'

    Hannibal Barca
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    Re: Russian Economy General News: #7

    Post  Hannibal Barca on Wed Nov 16, 2016 10:03 pm

    Yes, that's how is gonna happen when its gonna happen.

    par far
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    Re: Russian Economy General News: #7

    Post  par far on Thu Nov 17, 2016 3:50 pm

    'Made in Russia' could be coming to a store near you

    https://www.rt.com/business/367242-russia-cheap-labor-global-firms/



    GunshipDemocracy
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    Re: Russian Economy General News: #7

    Post  GunshipDemocracy on Fri Nov 18, 2016 9:43 pm

    Austin wrote:1 trillion rouble is ~ $ 15.5 billion , 36.654 in M2  comes to  ~ $ 568.137 Billion.

    Isnt that a huge money supply in Circulation ?  Could they be more without affecting inflation

    That´s exactly what Glazyev has keept saying. The problem to me boils down to

    1) source of money (internal vs external - mythic investors) where parameters are

    inflation/ deficit % rate , vs


    2) distribution of money to pump into economy (to banks for speculations or off shores vs. direct loans for hi-tech and real good manufacturers)



    Stolypin´s club (Glazyev&co) is more keynesist oriented while Siulianov/Shuvalov/Dvokrowitch/Greff/Chubais - western henchman.


    The answer who wins will be simple - how takes post after Ulukayev.

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    Re: Russian Economy General News: #7

    Post  GunshipDemocracy on Fri Nov 18, 2016 10:36 pm

    Talking about Vth column: Ulukayevis only a tip of the iceberg. interesting is timing..FSB follows the whole year..then right after Putin ends discussion with Trump FSB starts action. Names: Chubais, Dvorkovich, Ulukayev...Like I was reading participants list of Gaidar Forum Very Happy


    Well, text below. So readhead next? cheers cheers cheers

    Case "NTpharma" could become a thing of RUSNANO




    http://vz.ru/society/2016/11/17/844274.html


    Another detained as part of an intensified Russia's anti-corruption campaign began, the mayor of Pereslavl-Zalessky and the founder and Director General of OOO "Ntpharma" project of the state Corporation "RUSNANO", in which the latter has invested more than 1 billion, but production was never started. Experts do not exclude that this case could be a prelude to another, larger.

    According to SK, the mayor of Pereslavl-Zalessky Denis Koshurnikov was detained in the city, and the founder of "Ntpharma" Rustam Ataullakhanov and CEO Eugene sultans in Moscow.


    According to the investigation, the state Corporation "Rosnano" since 2010 invested in the company "Ntpharma", which was engaged in the production of medicines and vaccines, more than 1 billion rubles. It was assumed that production will start in September 2012, but it's not running to this day.
    "The investigation in cooperation with Guebipk of the MIA of Russia and SEB FSB of Russia it is established that the work on the implementation of the project for many years was not carried out, and the funds were dissipated, – is spoken in the message of Investigatory Committee. – Simulating the execution of works, Ataullakhanov and sultans in 2011 acquired from Koshurnikovo owned by OOO "Protekt" the land is located on the territory of the National Park "Plescheevo lake." At the time of the transaction Koshurnikov was the head of the Pereslavl district and issued a building permit without written approval from the Ministry of natural resources... Ataullakhanov and sultans are suspected of embezzlement of entrusted property in especially large size (part 4 of article 160 of the criminal code), Koshurnikov – in excess of powers of office the head of the local authority causing grave consequences (paragraph "C" of part 3 of article 286 of the criminal code)".

    Who is to blame?

    "Of course, I do not have full information, but it seems to me that the mayor of Pereslavl-Zalessky Denis Koshurnikova is unlikely to put on a par with other defendants in the case – shared their vision of the situation with the newspaper the SIGHT public figure, journalist Maxim Kalashnikov. – Know him as an active, energetic man, who came out of business and raised the city, built a terrific educational and entertainment Park. I know that his character was difficult, and therefore relations with the Governor of the Yaroslavl region had not evolved".

    In the case of theft from RUSNANO can be new players


    Ally Anatoly Chubais have detained on the case of a multimillion embezzlement
    Chubais explained the situation with Rosnano searches in the example of theft of fur coats
    SK filed a case against the mayor of Pereslavl-Zalessky on the fact of embezzlement of money RUSNANO
    The FSB has identified the theft of the allocated RUSNANO 227 million rubles
    Ex-Deputy head of RUSNANO Malyshev was arrested in absentia
    Key words: corruption, RUSNANO, the fight against corruption
    At the same Maxim Kalashnikov believes that the responsibility for the situation "Ntpharma" to a greater extent should management of RUSNANO: "we Know that RUSNANO typically works on projects in partnership with commercial entities, the city is involved to a lesser degree. In the end, they could not take control of the project, which is led since 2012? And if in the case of "Ntpharma" it is hoped that the company still will begin to produce domestic products, in the case of, for example, with another project of RUSNANO – Novosibirsk "Litecom" (I know the situation because they participated in the elections in this region) is unconscionable. There on Chinese technology for our raw materials, our working hands, in fact, slave-like conditions, was to establish the production of lithium-ion batteries. Which later turned out to be unclaimed, and the company went bankrupt. And since it's not only the failure of the concern, I want to ask a reasonable question: "If so many of the past shots, where to hit?". Which in the end produces Rosnano, I would really like to see the products of their activities. For example, Apple can show smartphones, and what can they show?"
    In turn, issued on the occasion of the press release the state Corporation "Rosnano" explained the situation "Ntpharma" that "in the course of the project our partners were having difficulty with the payment schedule, after which RUSNANO has put their investment".

    "...The project was under threat of freezing. But last year, RUSNANO has managed to find new private investors interested in investments in "Ntpharma" and bought a 35.5 percent stake in the company. After it began to receive in the project, RUSNANO BOD also adopted a decision on continuation of funding proportional to its equity participation share. All actions, RUSNANO has had a thorough legal examination, verification of security. Strategic decisions were approved Board of Directors. Currently, construction is completed (though with a substantial backlog from the initial schedule), is the installation, testing and commissioning of equipment. The company is no doubt a huge social significance of the project and its successful future".

    In turn, the head of RUSNANO Anatoly Chubais so commented the situation on his page in the network Facebook:

    "For all who follow current events in RUSNANO: please distinguish between a situation where YOU stole a coat from a situation where they stole it FROM YOU!".

    Who stole fur coats?


    "Divided, of course, who was stolen and who stole it, need it, but I'm sure in this case it is necessary to check and leadership of RUSNANO, and personally Chubais, said in an interview with the newspaper LOOK Director of the Center for economic research Institute of globalization and social movements Vasily Koltashov. And I am sure that then they will reveal a sufficient number of cases where "honest Chubais stole the money" any other negligent mayors and entrepreneurs, when the investment projects have been overstated and is not paid off when the running direction was unclaimed by the market. And it's not that Russia is so bad country, where it is impossible to start production of new technologies, and that the project Rosnano was made originally too liberal, he was focused on the issue of shares, through which it was planned to achieve market capitalization. To invest in real production, as, for example, was the government project of Nokia in Finland, no one was going. So I guess we are still waiting for the loud process is Rosnano, and the sooner he starts, the better, because he was wasted and public money".
    A similar vision of the situation with the newspaper OPINION shared doctor of economic Sciences, Professor of Department of international Finance MGIMO Valentin Katasonov:

    "I think, unflattering results RUSNANO and the current case around the "Ntpharma" – things are interconnected. Despite the fact that Chubais has stated that are the standard checks that are carried out before, and we need to share, "who has stolen and who stole it." However, previous inspections had revealed evidence of theft and embezzlement, and the decisions of the management of the Corporation and has not been done."

    Recall that under Russia's anti-corruption campaign were also detained, the Minister of economic development of Russia Alexei Ulyukayev, a former Vice-Governor of St. Petersburg Marat Hovhannisyanand Deputy head of the Kemerovo region and head of regional management SK.




    kvs wrote:So the monetarist minister of the economy has been brought down.   It looks like the move against the 5th column monetarist faction
    occupying Russian finance is starting.  

    I hope they purge the Central Bank.   Time to set the interest rates at 5% (CPI-2%) as in the west.

    IMHO Central Bank´s main task now assigned by Vova is to seal financial system against illegally pumping money to west. that´s wy so many banks are shut and soon insurance companies follow.



    GunshipDemocracy
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    Re: Russian Economy General News: #7

    Post  GunshipDemocracy on Sat Nov 19, 2016 1:47 am

    Ah well nice column in Izvestia. An interesting read. Below Yandex translation.

    http://izvestia.ru/news/645473

    The word of the government and the Central Bank


    Politician and businessman Anton Danilov-Danilyan — how will investors react to the resignation of the speaker and other measures aimed at combating corruption

    Tuesday news space stirred news about the arrest of the Minister of economic development Alexei Ulyukayev. The next day, reports of searches in the office of RUSNANO. Such actions, even when they are absolutely justified when they themselves are within the law, focusing on law enforcement and scare investors.

    But fearing a — one, two, three, and seeing in the future, what really is the improvement that it is not some kind of struggle with the dissent, that is, not some political factors, namely the aspects related to corruption, investors will sooner or later calm down. For example, investors are actively invested in the same China, despite the numerous and much more rigid actions of the authorities against officials, steeped in the relevant corruption. Here, in our case, it all depends on the system of incentives and kontrtitula.

    The uncertainty that may arise in the minds of some investors in connection with such action, can be compensated by appropriate measures to improve the investment climate from the point of view of legislation, from the point of view of the termination of the constant changes, when several hundred laws adopted at each session, and a huge part of them initiated by government and not by the deputies themselves.

    Investors will calm down when the monetary policy of the Central Bank will be aimed not at the contraction of demand, namely economic development; when our budget is not to cut the various measures associated with the development of economy, education, health care, and Vice versa — let it be a little scarce, but will support the same industry around the world are the drivers of growth.

    All of these compensating, but consistent action will certainly inspire investors confidence.

    Now the situation is characterized by the fact that it is absolutely lawful actions related to compliance with the law, on the one hand, not kompensiruet stimulating, supporting economic development actions on the other side. Even basic economic forecast and built into the draft budget does not actually involve any measures that would pop out of that very conservative and, I would say pessimistic baseline forecast.

    In fact, those measures which are already inscribed in the baseline forecast and ensure the implementation of the baseline forecast.

    Thus, in the aspect of ongoing action, the situation with the behavior of investors and entrepreneurs in General ambiguous. It all depends on the other hand — actually, on the activity of the economic block of the government and the Central Bank, which, unfortunately, rather close, "sakoulevas" and do, in fact, increased economic development.

    The author is Chairman of the expert Council of the industry development Fund (EDF) and co-Chairman of "Business Russia"

    zg18
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    Re: Russian Economy General News: #7

    Post  zg18 on Sat Nov 19, 2016 3:10 am

    Russian CB purchased 40.4 metric tons of gold in October, bringing official total reserves to 1583.2 tons.


    MOSCOW: Russia's gold reserves posted a large monthly gain of 1.3 million troy ounces to 50.9 million ounces at the start of November, the central bank said on Friday.
    From Oct. 1, the central bank tweaked its reserve rules so that gold held in unallocated bullion accounts at banks could be included in its reserves.
    Russia has also been buying gold to try to diversify its reserves and make its economy more resilient to external pressure including sanctions.
    The increase in Russia's gold holdings over October is the largest monthly increase for at least the past two years.
    The central bank's website displays Russia's quarterly gold holdings, as opposed to monthly ones, up until the end of 2014. Russia had 45.5 million troy ounces of gold at the start of 2016, up from 38.8 million ounces a year earlier.


    http://www.brecorder.com/markets/commodities/europe/328655-russian-gold-reserves-post-large-monthly-gain-to-509mn-oz.html

    This bolded part means CB gold accumulation in previous years was much higher than officially reported, real reserves could be anywhere between 2500-3500 tons. I don`t expect they will tell real numbers, for now.

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    Re: Russian Economy General News: #7

    Post  AlfaT8 on Sat Nov 19, 2016 4:46 pm

    zg18 wrote:Russian CB purchased 40.4 metric tons of gold in October, bringing official total reserves to 1583.2 tons.


    MOSCOW: Russia's gold reserves posted a large monthly gain of 1.3 million troy ounces to 50.9 million ounces at the start of November, the central bank said on Friday.
    From Oct. 1, the central bank tweaked its reserve rules so that gold held in unallocated bullion accounts at banks could be included in its reserves.
    Russia has also been buying gold to try to diversify its reserves and make its economy more resilient to external pressure including sanctions.
    The increase in Russia's gold holdings over October is the largest monthly increase for at least the past two years.
    The central bank's website displays Russia's quarterly gold holdings, as opposed to monthly ones, up until the end of 2014. Russia had 45.5 million troy ounces of gold at the start of 2016, up from 38.8 million ounces a year earlier.


    http://www.brecorder.com/markets/commodities/europe/328655-russian-gold-reserves-post-large-monthly-gain-to-509mn-oz.html

    This bolded part means CB gold accumulation in previous years was much higher than officially reported, real reserves could be anywhere between 2500-3500 tons. I don`t expect they will tell real numbers, for now.

    It's a bloody gold rush, is there gonna be some sort of economics collapse soon or something???

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    Re: Russian Economy General News: #7

    Post  Austin on Sat Nov 19, 2016 4:59 pm

    AlfaT8 wrote:It's a bloody gold rush, is there gonna be some sort of economics collapse soon or something???



    Bursting the Bubble Economy

    The economy Trump’s inherited from Bush and Obama is one temporarily propped up by an artificial recovery via low interest rates and quantitative easing. That fact doesn’t change simply with a new Commander in Chief. The irony is the economy desperately needs the tough love of a financial crisis to normalize markets and reset interest rates; however, they are likely to never do that voluntarily. It will take a complete collapse in the dollar.

    “The mentality is we’re going to have more inflation; therefore, the Fed is going to fight that inflation by raising rates, and so the higher rates will mean a stronger dollar and that’s going to hurt gold. But what people don’t realize is that the Fed will not fight higher inflation. They will surrender. It’s inflation that’s going to win the fight, not the Fed. The Fed is not even in a position to step into the ring with higher inflation. The minute they try to fight inflation by raising rates, they crush the bubble economy.”

    Even if the Fed follows through with a December rate hike, it’s likely to be insignificant when you factor in rising inflation, which will outpace interest gains. Real interest will go down despite nominal interest going up, even slightly.

    All of this is good for gold, despite some suggesting inflation will help the dollar, a claim that runs against the most basic economic principle. Peter explains:

    “None of that is possible without massive money printing on the part of the Federal Reserve. So now you have massive inflation. That is not good for the dollar. By definition that’s the dollar loosing purchasing power. It’s not bad for gold. I hear people saying, ‘We’re going to have more inflation so sell gold.” That doesn’t make any sense. If we’re going to have more inflation, you should buy gold.”


    http://schiffgold.com/key-gold-news/3-reasons-dollar-will-fall-trumps-fiscal-stimulus/?utm_source=twitter&utm_medium=social&utm_campaign=bigwing-twitter-peterschiff&utm_content=3-reasons-dollar-will-fall-trumps-fiscal-stimulus

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    Re: Russian Economy General News: #7

    Post  JohninMK on Sat Nov 19, 2016 10:11 pm

    This will go down a storm with the Russia haters in the US

    LIMA (Sputnik) – The Russian Direct Investment Fund (RDIF) multiplied investments in the project of Hyperloop high-speed transport system, RDIF CEO Kirill Dmitriev said on Saturday.

    “Even with the United States we have news that we multiplied our investments in Hyperloop,” Dmitriev told journalists. He said that the decision was made during the last round of attracting investments, in which the United Arab Emirates’ company DP World was also taking part. “RDIF also sees potential for developing joint projects with US investors and holds consultations on restoring cooperation with US partners,” Dmitriev added.

    The Hyperloop concept was proposed by US billionaire Elon Musk in 2012. The technology provides for the high speed transportation of passengers and goods in tubes, in which light aluminium capsules are propelled by linear induction motors and air compressors.


    Read more: https://sputniknews.com/science/201611191047631993-russian-investment-fund-hyperloop-project/

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    Re: Russian Economy General News: #7

    Post  AlfaT8 on Sun Nov 20, 2016 2:37 am

    JohninMK wrote:This will go down a storm with the Russia haters in the US

    LIMA (Sputnik) – The Russian Direct Investment Fund (RDIF) multiplied investments in the project of Hyperloop high-speed transport system, RDIF CEO Kirill Dmitriev said on Saturday.

    “Even with the United States we have news that we multiplied our investments in Hyperloop,” Dmitriev told journalists. He said that the decision was made during the last round of attracting investments, in which the United Arab Emirates’ company DP World was also taking part. “RDIF also sees potential for developing joint projects with US investors and holds consultations on restoring cooperation with US partners,” Dmitriev added.

    The Hyperloop concept was proposed by US billionaire Elon Musk in 2012. The technology provides for the high speed transportation of passengers and goods in tubes, in which light aluminium capsules are propelled by linear induction motors and air compressors.


    Read more: https://sputniknews.com/science/201611191047631993-russian-investment-fund-hyperloop-project/

    Ughm....yea about that hyperloop. Suspect


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    Re: Russian Economy General News: #7

    Post  Austin on Sun Nov 20, 2016 3:28 pm

    Russian Coal Fights For Survival

    http://oilprice.com/Energy/Energy-General/Russian-Coal-Fights-For-Survival.html

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    Re: Russian Economy General News: #7

    Post  miketheterrible on Sun Nov 20, 2016 6:01 pm

    Austin wrote:Russian Coal Fights For Survival

    http://oilprice.com/Energy/Energy-General/Russian-Coal-Fights-For-Survival.html

    Your article contradicts itself.

    Barring large structural reforms and systemic privatization, centralized spending and planning will have a huge impact on manufacturing figures. Russian steel is most competitive when coal prices are low, which is a way off as the market adjusts to changing supply-demand dynamics in Asia. Russia imports a quarter of Kazakhstan’s coal production because it is cheap. Kazakhstan’s production is projected to grow due to investment from India and China, a blow to Russian firms fighting to preserve market share.

    If they are worried that lower prices will force the closure of mines, but in same article states that the Russian steel companies rely on cheap coal from Kazakhstan  to make cheap steel, but won't be able to since prices will go up due to Chinese and Indian investments; wouldn't that mean it will keep the Russian mines working quite well since it will be cheaper to use them over Kazakhstan coal in the future? In that case, increasing demand for local coal to produce needed materials?

    Seems to me the writer of that article is confused as to the pros and cons and became a contradiction.

    Even stronger production figures on the domestic market may not be enough as natural gas consumption in Russia’s east will alleviate the sinkhole that Gazprom’s China projects have thus far been.

    Statement above doesn't even make sense. What sinkhole is this individual talking about? Power of Siberia pipeline is my guess and I do not know how that is a sinkhole since the project isn't even done yet. It won't be for a few more years. Something cannot be a sinkhole if it is a JV and it hasn't even begun operation. It would be a sinkhole if it lead to nowhere but that isn't the case with power of Siberia.

    Article smells like it was written by an amateur or someone with an agenda. Won't change a thing though

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    Re: Russian Economy General News: #7

    Post  kvs on Sun Nov 20, 2016 9:24 pm

    Another trollish post by Austin with a liberast propaganda hit piece on Russia. The sky is always falling when it comes to Russia.
    But wait a few weeks and all the chicken little hysterics are totally forgotten.

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    Re: Russian Economy General News: #7

    Post  miketheterrible on Mon Nov 21, 2016 1:06 am

    kvs wrote:Another trollish post by Austin with a liberast propaganda hit piece on Russia.   The sky is always falling when it comes to Russia.
    But wait a few weeks and all the chicken little hysterics are totally forgotten.

    Austin didn't write the article. There is a form of objectivity and worth while discussion on forums regarding such content, regardless how inane it is. Only because it is good to talk about how idiotic it is which then Austin or others who do not know exactly the current situations, can learn from and even spread the news about how stupid such articles are for others who may not know as well.

    Stupid as they may be, worth discussing to break down the article and prove how terrible it is.

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    Re: Russian Economy General News: #7

    Post  Austin on Tue Nov 22, 2016 1:09 pm

    Glazyev compared the state of the Russian economy with a heart attack
    25



    Advisor to the President of Russia Sergey Glazyev compared the state of the Russian economy with myocardial infarction, speaking at a forum of the Financial University "Traps" new normality "."

    "As it was easy to foresee, and we have already talked about this as soon as monetary authorities opted for the liberation of the ruble to float freely, immediately we got a jump devaluation, inflationary shock, which still can not recover. And our macroeconomic system is similar to patients with myocardial infarction. You see fluctuations (eyes showed a slide with a comparative chart of volatility of currencies of different countries -. RNS). No country in the world such records he has never seen, to the volatility of the national currency has been so high. It is twice the nearest to us Turkey on this indicator. Devaluation - we also set records, including, among oil-producing countries, "- he said.


    According to Glazyev, the transition to a floating exchange rate of the ruble was "an exotic novelty."

    "When the central bank began raising interest rates, economic growth will automatically began to stall. And in the end we found ourselves trapped in stagflation, which is characterized by both high inflation, which was caused, and continues to generate rate fluctuations, and, on the other hand, rising interest rates, which put the company in a very unpleasant situation ", - summed up the eyes.


    In 2015, Russia's GDP fell by 3.7%, inflation rate was 12.9%. According to the Ministry of Economic Development forecast to slow to 0.6% this year, the economy recession and inflation - to 5.8%. Russia finally moved to a floating exchange rate in November 2014. In mid-December amid a sharp drop in oil prices and the ruble exchange rate of the Central Bank decided to raise its key rate by 6.5 percentage points - to 17%. Currently, the rate is 10%.


    https://rns.online/finance/Glazev-sravnil-sostoyanie-rossiiskoi-ekonomiki-s-infarktom-2016-11-22/
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    Re: Russian Economy General News: #7

    Post  Austin on Tue Nov 22, 2016 1:11 pm

    At the end of the year in the Reserve Fund will be 1.1 trillion rubles


    TASS / Vedomosti


    Over the past two years, Russia used 4.7 trillion rubles. Reserve Fund, at the end of the year the fund size will be 1.1 trillion rubles. As reports TASS, is in the State Duma, said Finance Minister Anton Siluanov. He presented the draft budget for 2017-2019 biennium. before its consideration in the first reading. According to him, the fund used to finance the increased budget deficit.

    In October, First Deputy Finance Minister Tatyana Nesterenko requested the State Duma to allow the agency to spend an additional 1 trillion rubles. from the Reserve Fund. There are risks that the money from the sale of state-owned "Rosneft" (703.5 billion rubles.) Arrive only in January, when the official has explained. It was also reported that the total deficit for financing in 2016 from the Reserve Fund is planned to spend 2.1 trillion rubles.

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    Re: Russian Economy General News: #7

    Post  GunshipDemocracy on Tue Nov 22, 2016 8:37 pm

    AlfaT8 wrote:
    zg18 wrote:Russian CB purchased 40.4 metric tons of gold in October, bringing official total reserves to 1583.2 tons.


    http://www.brecorder.com/markets/commodities/europe/328655-russian-gold-reserves-post-large-monthly-gain-to-509mn-oz.html

    This bolded part means CB gold accumulation in previous years was much higher than officially reported, real reserves could be anywhere between 2500-3500 tons. I don`t expect they will tell real numbers, for now.

    It's a bloody gold rush, is there gonna be some sort of economics collapse soon or something???

    meeh but incidentally Putin´s first armament plan was to end in 2020 Smile

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    Re: Russian Economy General News: #7

    Post  GunshipDemocracy on Tue Nov 22, 2016 9:08 pm



    Austin wrote:At the end of the year in the Reserve Fund will be 1.1 trillion rubles


    But reserves are all the time around 400 bln $ I do not understand why this propaganda of fear?



    Media: Russia has earned in 2016 400 billion rubles due to the growth of oil prices



    OSCOW, November 17. /TASS/. Russia in 2016, earned 400 billion rubles ($6 billion), due to higher oil prices, which provided talks on the freezing of oil production from countries - members of OPEC.

    The Secretary General of OPEC predicts the end of the period of low oil prices
    On it informs Agency Bloomberg , citing sources familiar with the calculations of the Russian government.
    So, the statements of Russia's readiness to freeze the production led to a rise in world oil prices from $27 in January 2016 to $44 per barrel for the year on average.
    Rising prices combined with increased production has led to increasing state revenues by 400 billion rubles to 700 billion rubles., noted by the source Agency.
    The next OPEC summit, which just may be agreement to limit oil production, will take place on November 30 in Vienna.
    The very same agreement that such measures are necessary to stabilize the prices of raw materials has been achieved by the countries of cartel at a meeting in Algiers in September of this year. But yet to develop a "road map" to restrict production failed.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/3791367

    miketheterrible
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    Re: Russian Economy General News: #7

    Post  miketheterrible on Tue Nov 22, 2016 11:56 pm

    GunshipDemocracy wrote:

    Austin wrote:At the end of the year in the Reserve Fund will be 1.1 trillion rubles


    But reserves are all the time around 400 bln $ I do not understand why this propaganda of fear?



    Media: Russia has earned in 2016 400 billion rubles due to the growth of oil prices



    OSCOW, November 17. /TASS/. Russia in 2016, earned 400 billion rubles ($6 billion), due to higher oil prices, which provided talks on the freezing of oil production from countries - members of OPEC.

    The Secretary General of OPEC predicts the end of the period of low oil prices
    On it informs Agency Bloomberg , citing sources familiar with the calculations of the Russian government.
    So, the statements of Russia's readiness to freeze the production led to a rise in world oil prices from $27 in January 2016 to $44 per barrel for the year on average.
    Rising prices combined with increased production has led to increasing state revenues by 400 billion rubles to 700 billion rubles., noted by the source Agency.
    The next OPEC summit, which just may be agreement to limit oil production, will take place on November 30 in Vienna.
    The very same agreement that such measures are necessary to stabilize the prices of raw materials has been achieved by the countries of cartel at a meeting in Algiers in September of this year. But yet to develop a "road map" to restrict production failed.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/3791367

    Because that money is hidden elsewhere and is in control by the central bank and Sberbank. Hopefully Gref will be the next one (along with Kudrin) to get arrested with their pal Alexei Ulyukayev and all will be good.

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    Re: Russian Economy General News: #7

    Post  kvs on Wed Nov 23, 2016 1:24 am

    I see the same trolling from Austin again.  This BS about the "reserve fund" running out has been beaten to death in this thread.  But
    like a broken record Austin keeps posting the same shit over and over.  

    Russia does not run on its reserve funds for fuck's sake.  Enough already.   One of the small reserve funds that was intended for this
    purpose has been drawn down to reduce the size of the deficit.   So when it runs out the deficit will jump.  But the issue is that the
    deficit is a function of the tax revenues and don't run around claiming that from 2014 until the end of time Russia's tax revenues will
    keep decreasing.   It is almost a given that in 2017 they will increase.   Hence the deficit will be reduced aside from the reserve fund.
    In 2018 the tax revenues should be even higher due to the increasing GDP growth, so when this small reserve fund is depleted it
    will not be needed.   Watch as this reserve fund is refilled in the coming years.

    Rmf
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    Re: Russian Economy General News: #7

    Post  Rmf on Wed Nov 23, 2016 2:16 am

    so? usa had high interest rates ,over 18% thats not heart attack Usa lived on and progressed..... http://cc8cade79959f162f888-639182b8dfd74297a8aba5936544399d.r17.cf1.rackcdn.com/content/pic35b7ee3a93c9e3c7e7d667f148df930e.png

    kvs
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    Re: Russian Economy General News: #7

    Post  kvs on Wed Nov 23, 2016 2:34 am

    Rmf wrote:so? usa had high interest rates ,over 18% thats not heart attack Usa lived on and progressed..... http://cc8cade79959f162f888-639182b8dfd74297a8aba5936544399d.r17.cf1.rackcdn.com/content/pic35b7ee3a93c9e3c7e7d667f148df930e.png

    The more relevant figure that was already posted is the deficit percentage of GDP for the UK. It was over 10% for many years. Yet
    the 3% GDP deficit in Russia is some end of the world condition.

    http://www.oecd-ilibrary.org/economics/government-deficit_gov-dfct-table-en

    United States
    2008: -7.2
    2009: -12.8
    2010: -12.2
    2011: -10.7
    2012: -9.3
    2013: -6.4
    2014: -5.8
    2015: -4.6

    Russian Federation
    2008: +7.3
    2009: -4.0
    2010: -1.2
    2011: +4.2
    2012: +0.5
    2013: -0.5
    2014: 0.0
    2015: +0.2

    https://sputniknews.com/russia/201610011045900948-russia-economy-budget-deficit/

    3.7% deficit in 2016. Oh the horror, oh the humanity!

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