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    Russian Economy General News: #9

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    Kimppis

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    Re: Russian Economy General News: #9

    Post  Kimppis on Wed Jan 31, 2018 3:39 pm

    Siluanov promised to turn Russia into a "second Norway"

    Before the reserves are invested in new projects, it is necessary to create a sufficient airbag that would allow the country to exist painlessly for three years regardless of the market situation and sanctions pressure, the minister said.

    "I think that the total amount of funds that we need to accumulate in the NWF, not involved in infrastructure projects, should be at least 7%, and maybe more - so that we can finance our commitments within three years regardless of how the situation in the world commodity markets will develop, or with [sanctions] restrictions, or with the outflow of capital, "Siluanov stressed.

    What does that actually mean? 3 years worth of... imports? Which would be something like $600-800 billion. And that is course more than 7% of GDP, so I don't know what he means by the "7%" part...
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    Kimppis

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    Re: Russian Economy General News: #9

    Post  Kimppis on Wed Jan 31, 2018 7:53 pm

    Mercouris on inflation:

    Russia’s inflation rate plunges to 2.2%; deflation risks increase

    "Zero inflation in second week of January suggests Central Bank will once again overshoot inflation target."

    Shocking!


    Also:

    http://tass.com/economy/987952

    So Russian reserves are at $442.8 billion

    And according to Putin, GDP growth was 1.4% last year, so atleast atm it seems that the economic growth was indeed closer to 1.5% than 2% last year.

    The slowdown during the second half of the year was quite massive. The growth rate somehow managed to be slower than the pessimistic IMF and other "Western" predictions. After a growth of 2.5% in Q2 that is really an achievement. Industrial growth was also apparently slower in 2017 than it was in 2016... somehow, even though GDP growth was still negative in 2016. Just wow...

    Austin

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    Re: Russian Economy General News: #9

    Post  Austin on Thu Feb 01, 2018 4:02 am

    Foreign direct investments into the nonfinancial sector of Russia amounted to $23 bln in three quarters of 2017 and rose twofold in annual terms, being an all-time high figure over the last four years, Putin said.

    More:
    http://tass.com/economy/987952

    Austin

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    Re: Russian Economy General News: #9

    Post  Austin on Thu Feb 01, 2018 4:43 am

    Kimppis wrote:Siluanov promised to turn Russia into a "second Norway"

    Before the reserves are invested in new projects, it is necessary to create a sufficient airbag that would allow the country to exist painlessly for three years regardless of the market situation and sanctions pressure, the minister said.

    "I think that the total amount of funds that we need to accumulate in the NWF, not involved in infrastructure projects, should be at least 7%, and maybe more - so that we can finance our commitments within three years regardless of how the situation in the world commodity markets will develop, or with [sanctions] restrictions, or with the outflow of capital, "Siluanov stressed.

    What does that actually mean? 3 years worth of... imports? Which would be something like $600-800 billion. And that is course more than 7% of GDP, so I don't know what he means by the "7%" part...

    With Idiots like him they will make the Russian Economy more sanction prone and dependent on USD rather than making it more sovereign and independent
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Thu Feb 01, 2018 4:24 pm

    Kimppis wrote:Siluanov promised to turn Russia into a "second Norway"

    Before the reserves are invested in new projects, it is necessary to create a sufficient airbag that would allow the country to exist painlessly for three years regardless of the market situation and sanctions pressure, the minister said.

    "I think that the total amount of funds that we need to accumulate in the NWF, not involved in infrastructure projects, should be at least 7%, and maybe more - so that we can finance our commitments within three years regardless of how the situation in the world commodity markets will develop, or with [sanctions] restrictions, or with the outflow of capital, "Siluanov stressed.

    What does that actually mean? 3 years worth of... imports? Which would be something like $600-800 billion. And that is course more than 7% of GDP, so I don't know what he means by the "7%" part...

    7% of GDP is something that he was   talking about.  And to me he is right. You need some money cushion for "dark hour".  Nobody says  about lack of import?! but what if price of oil drops to 20USD/barrel?



    @Austin : why do you think he is an idiot? he is carrying out Putin's orders, and keeps monetary policy on low risk level. No social shocks, slower development but balanced balance sheet.

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    Re: Russian Economy General News: #9

    Post  Austin on Sat Feb 03, 2018 8:34 am

    GunshipDemocracy wrote:@Austin : why do you think he is an idiot? he is carrying out Putin's orders, and keeps monetary policy on low risk level. No social shocks, slower development but balanced balance sheet.

    Putin does not understand economy and takes path to least resistance , what Russian Finance ministry is doing is just taking the easy way out.

    Any self respecting nation with the sanctions that is now imposed on Russia would have atleast long dropped buying US T bills and reduced its interest rates for easy lending and stopped stopped free flow of capital and full capital account convertibility.

    What Putin is doing is just doing a band aid job and sooner or later his day of reckoning will come

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    Re: Russian Economy General News: #9

    Post  ATLASCUB on Sat Feb 03, 2018 6:23 pm

    Austin wrote:
    GunshipDemocracy wrote:@Austin : why do you think he is an idiot? he is carrying out Putin's orders, and keeps monetary policy on low risk level. No social shocks, slower development but balanced balance sheet.

    Putin does not understand economy and takes path to least resistance , what Russian Finance ministry is doing is just taking the easy way out.

    Any self respecting nation with the sanctions that is now imposed on Russia would have atleast long dropped buying US T bills and reduced its interest rates for easy lending and stopped stopped free flow of capital and full capital account convertibility.

    What Putin is doing is just doing a band aid job and sooner or later his day of reckoning will come

    I'll give him till the end of this year before I give up on his shit. It does say a lot about Russian elites and I already knew they were as cheap as a copper penny.
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    Kimppis

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    Re: Russian Economy General News: #9

    Post  Kimppis on Sat Feb 03, 2018 8:10 pm

    What do you mean? High interest rates and T Bill purchases, or both? Just curious.

    The situation is weird though... I also just realized that the overall GDP growth during the first half of 2017 was possibly faster than during the second, which is really an achievement for the RCB. The slowdown was severe.

    And as already mentioned as well, they are massively overshooting their inflation target... negative GDP growth in November... industrial production overall grew slower than in 2016. So where's that "import substitution"? I realize that the high interest are the reason for that, but still.

    Now RCB forecasts a growth of 1.0-1.5% for the first half of this year. They certainly don't care about short-term growth, that's for sure. "Muh structural reforms, we can't grow faster 1.5%, hur dur." Oh well, I guess they really know what they're doing. Interest rates will inevitably go down, just slower than they realistically should. I don't know, just some very strange figures. 2% was supposed to be pretty much certain, but in the end it wasn't anywhere close.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Sat Feb 03, 2018 11:29 pm

    Kimppis wrote:What do you mean? High interest rates and T Bill purchases, or both? Just curious.

    The situation is weird though... I also just realized that the overall GDP growth during the first half of 2017 was possibly faster than during the second, which is really an achievement for the RCB. The slowdown was severe.

    And as already mentioned as well, they are massively overshooting their inflation target... negative GDP growth in November... industrial production overall grew slower than in 2016. So where's that "import substitution"? I realize that the high interest are the reason for that, but still.

    Now RCB forecasts a growth of 1.0-1.5% for the first half of this year. They certainly don't care about short-term growth, that's for sure. "Muh structural reforms, we can't grow faster 1.5%, hur dur." Oh well, I guess they really know what they're doing. Interest rates will inevitably go down, just slower than they realistically should. I don't know, just some very strange figures. 2% was supposed to be pretty much certain, but in the end it wasn't anywhere close.

    Why is it so hard for people to follow the facts? How can there be a normal economic regime with extortion level interest rates?

    We are talking Economics 101. Excessive interest rates can make the GDP shrink. The large drop in the Russian CPI indicates
    that the rates are way too high and driving economic growth into the ground. Import substitution cannot undo basic economics.
    If companies cannot borrow to invest in retooling, then they can't take advantage of market trends and opportunities. They
    are driven into bankruptcy. No modern capitalist economy has corporations operating on profits alone. Borrowing is essential
    and not some sort of luxury as people in this thread seem to think.

    Austin

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    Re: Russian Economy General News: #9

    Post  Austin on Sun Feb 04, 2018 11:36 am

    Kimppis wrote:What do you mean? High interest rates and T Bill purchases, or both? Just curious.

    Russia has $105 billion in US T bills which US if it wants can freeze that money any time or refuse to encash the bill , Its a very small amount from US Standards like a drop in US T Bill Ocean that are just printed from Thin Air and it wont make much impact.

    For Russian $105 billion is a lot of money , it can invest that money in its own economy there are many good projects that needs money in Russia.

    Instead of just keeping it in some US banks hoping the good will of Trump will triumph over any US Congress dictat , it makes sense to just remove say $100 billion and invest in its own economy or just pay off any state debt in worst case but better to invest so that economy grows.

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    Project Canada

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    Re: Russian Economy General News: #9

    Post  Project Canada on Fri Feb 09, 2018 2:39 pm



    Russia’s Central Bank cuts key rate to 7.5%

    The Bank of Russia notes that annual inflation remains at a consistently low level, while inflation expectations are gradually declining.

    "Short-term pro-inflationary risks have abated. Therefore the balance of inflationary and economic risks has shifted slightly towards the risks to economic growth. The uncertainty over the situation in global financial markets has increased. This year annual inflation is much less likely to exceed 4%. In this environment the Bank of Russia will continue to reduce the key rate and may complete the transition from moderately tight to neutral monetary policy in 2018," the regulator said.

    On the eve of the meeting most of the analysts interviewed by TASS said that the regulator would likely to lower the key rate from to 7.5%. Among the main factors for such a decision they named low inflation, a decrease in devaluation risks amid stabilization of oil prices.

    At the same time, a number of experts note that the volatility that recently emerged on global market as well as the growing expectations of tightening monetary policy in the US and the EU, may force the Bank of Russia to take a more cautious approach to changing rates in the future.

    The Board of Directors of the Bank of Russia will hold its next meeting on the key rate on March 23, 2018.

    http://tass.com/economy/989257

    Vann7

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    Re: Russian Economy General News: #9

    Post  Vann7 on Fri Feb 09, 2018 9:10 pm

    Austin wrote:
    Kimppis wrote:What do you mean? High interest rates and T Bill purchases, or both? Just curious.

    Russia has $105 billion in US T bills which US if it wants can freeze that money any time or refuse to encash the bill , Its a very small amount from US Standards like a drop in US T Bill Ocean that are just printed from Thin Air and it wont make much impact.

    For Russian $105 billion is a lot of money , it can invest that money in its own economy there are many good projects that needs money in Russia.

    Instead of just keeping it in some US banks hoping the good will of Trump will triumph over any US Congress dictat , it makes sense to just remove say $100 billion and invest in its own economy or just pay off any state debt in worst case but better to invest so that economy grows.

    Putin does not understand economy and takes path to least resistance..

    Putin never makes any sense... in developing Russia .
    He follows the American System ,and later gets disrespected and slapped in the face ,he gets sanctions ,his allies invaded ,euromaidans left and right on Russia or allied countries,and terrorism and allies bombed by US ,and now even Russian military bases bombed with Russians killed by US supplied weapons ,and Putin do nothing.  No  

    I don't think is United Russia party the problem. He is the problem. His ignorance on how to counter its enemies,
    his fear to fight back is what makes Russia to be disrespected and humiliated so much in the world. BRICS was a step
    in the right direction..but if all they do is to focus in loans for third world nations for infrastructure ,then it will be a
    huge waste of time. Russia needs to setup an alternative to the American system , American banks, American internet ,American Technology and entertainment industry. and promoting Russia as a leader in Agriculture and Sports ,is not going to help in anything. Russia needs to completely modernize its economy , privatize its energy industry that will make Russia energy industry sanction proof.. because will be in the hands of Europe. and if there is  a war or Russia in future change its mind..The Russia government can easily nationalize its energy industry back. no problem.

    Cheering Russia economy today ,grow of 1% or 3% or even 5% if ever gets there is  not understanding Russia major Issue ,that is ,its lack of influence in the world , its lack of alternative to the American system. Russia lack of influence
    among the developed nations in the world. It is this weakness in Putin's Russia economy , weakness in influence ,what allow Americans to continue recruiting nations after nation to turn against Russia. People follow US ,not because they like them.. but because there is no other system , since even Russia depends on American Banks, American Internet and american technology. The day Russia transform itself into a leader in world development ,world technology and offer an alternative to the American world , it will be the day NATO will disband and no longer US will have power to influence or sanction any nation.. this also will sink US economy and dollar ,when it lose its European loyalty to their system.  


      People on this forum focus a lot in numbers , Is not about numbers.. is about Quality ,is about influence is about world leadership . Is not the same 1% economic growth selling bananas and oil ,than 1% growth exporting leading technology in the world that everyone cheers and like. If Russia can develop an economy that influence the entire world , as American did with the manned moon landing, internet , American entertainment industry ,Hollywood ,and the invention of computers ,then Russia will be in a far more stronger position to influence nations to no longer follow the american system ,and offer an alternative.  BRICS is a good step.. but it falls short in ambitions . if Putin pushed in the direction of total Independence of BRICS from US system . or at least Russia convince CHINA to create a military /scientific /and economic alliance , In bank industry ,in Space ,in leading Technology export ,then it will shake the entire world , and US domination and its corrupt system will end ,because there will be a strong alternative to US leadership ,their leading business and banks in the world.  

    If economy size was the same... between German and Saudi Arabia.. it is not the same 5% GDP growth for Saudi Arabia , than a 5% economic growth for Germany. One nation is seen as a third world country and the other is a influential nation in the world.  So RUssia have an image problem , and this is why they have so little influence
    in the west.. among the most developed nations and no real allies that will follow Russia even in the battlefield.
    Only rejected nations follows Russia and this needs to change by transforming Russia economy into a modern
    innovative one.

    So if Russia economy is growing today a little or a little more ,is meaningless ,when you know , Russia is heading into a major Precipice.  that will be cause of US war on Russia economy and the wars they create to weaken Russia . This is because sooner or later they will succeed in their attacks. So if for example ,tomorrow ,Americans manage to get Right sector nazis in Kiev in power and convince them to start a war on Russia. To start killing ethnic Russians in Ukraine ,
    in the zones they control.. then it will force Russia to invade.. with a 50,000 ,100,000 army invasion..for the take over
    of all Ukraine and restore order there.. something that will sink Russia economy. US can also re-start a war in Moldova against transnistria ,and start a war against Serbia.

    So this is why is wrong any celebrations of the state of Russia economy today..because there war against Russia is not
    over. and Putins is doing nothing to stop this ,other than begging its americans partners for their friendship. All this economic growth while is good ,can be a very temporary thing..and Russia economy will sink again with any war americans provoke against Russia . So this is why people in the kremlin cant just solve Russia economy problems and nation problems by just selling record wheat numbers or natural  Gas.  Russia needs to stop American aggression period. and it will not do it, saying please or ignoring their hostilities.
    and pretending that the west will cooperate with Russia on anything.  

    Americans can start tomorrow sanctions on Russia ,accusing them of being behind the killing of Abraham Lincon and for being behind of instigating the American civil war in 1861 ,where millions died.. and still most nations will follow US sanctions on Russia. Notice how Syria which is the one being attacked get sanctions from US and Europe ,while US and closest allies continues arming and financing ISIS and alqaeda there and everyone knows this. Europe knows that US is the world biggest sponsor of Terrorism..and that is aiding ISIS and Alqaeda.. but why they continue to follow americans? Because US is the leader of the developed world and everyone follows their corrupt system . and no one wants to be isolated like NOrth Korea or IRAN. and live in the stone age. without internet that Americans can also ban.

    So Russia nation existence depends on its ability to influence the west ,in a positive way or negative , .. Compete US most popular business or defeat their military in a war ,but what Putin can't do is become weak and ignore that Russia is already in a state of war . is a slow war ,and Russia is being attacked from all directions and..Americans elite will never stop its aggression to Russia ,specially when Putin is weak and do not respond. ry and others.

    This video shows Russia reality.. Putin's Russia..



    according to an scholar.. there is no System in Russia that promote inventions becomes a reality (he speak about civilian modern Business ,why he talks about *inventions*) . So if this is true ,it should be a shameful fact of Putin's mediocre ruling of Russia. One thing is to invent or discover a new technology  and new scientific discovery that Russia does all the time . and another is to create an Big business with it and export it to the world.. Russia is failing in execution and not in design.. it have good scientist and engineers ,they invent amazing things.. but it later end in the shelves as a tech demo in a laboratory  or only for government and military use but not for to compete with anything in the west. Remove Putin from power and put a real businessman of the new generations of Russian ,someone that understand western business and western societies culture but that is also patriotic ,and you will see Russia to take off.  Probably Russia will need a leader that was born not in Russia ,but in the west.. It worked with CAtherine.. which was German.. so perhaps a new German president ,and if possible women will be great.  Very Happy  But better will be a leader with ambitions.. someone like JackMa or Elon Musk.. people that believe nothing is impossible. This is the kind of leader Russia needs and not an insecure and outdated leader ,that have no idea what their enemies are doing ,and how US use its Innovative leading Business as a weapon to influence the world into follow of their system..

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    Re: Russian Economy General News: #9

    Post  Austin on Mon Feb 12, 2018 6:48 pm

    Russia's exports in 2017 grew by 25% and amounted to 357 billion dollars.

    https://sdelanounas.ru/blogs/103781/
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Mon Feb 12, 2018 9:01 pm

    Austin wrote:
    Kimppis wrote:What do you mean? High interest rates and T Bill purchases, or both? Just curious.

    Russia has $105 billion in US T bills which US if it wants can freeze that money any time or refuse to encash the bill , Its a very small amount from US Standards like a drop in US T Bill Ocean that are just printed from Thin Air and it wont make much impact.

    For Russian $105 billion is a lot of money , it can invest that money in its own economy there are many good projects that needs money in Russia.

    Instead of just keeping it in some US banks hoping the good will of Trump will triumph over any US Congress dictat , it makes sense to just remove say $100 billion and invest in its own economy or just pay off any state debt in worst case but better to invest so that economy grows.


    I am afraid it is not that simple. If US wants to freeze especially in current almost-crisis situation it can start massive outflow of capital from US T-bonds. And THAT would be a hard blow to US. Look US didnt even introduce any sanctions against Russia's sovereign debt not to hurt own investors officially ...

    It is not in banks first,second it is pretty liquid so in case of need you can take and use it. Third what do you understand by investing into economy? pouring billions in what? leaky banking system? corrupted local officials? first as I can see Russia is improving both efficiency of stat and budget governance and legal basis for development. Besides China has also 3 trillions of reserves in US and Saudis too like trillion and somehow they develop pretty fast...


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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Mon Feb 12, 2018 9:18 pm

    Vann7 wrote:
    Putin never makes any sense... in developing Russia .
    He follows the American System ,and later gets disrespected and slapped in the face ,he gets sanctions ,his allies invaded ,euromaidans left and right on Russia or allied countries,and terrorism and allies bombed by US ,and now even Russian military bases bombed with Russians killed by US supplied weapons ,and Putin do nothing.  No  

    I don't think is United Russia party the problem. He is the problem. His ignorance on how to counter its enemies,
    his fear to fight back is what makes Russia to be disrespected and humiliated so much in the world. BRICS was a step

    please, did you ever manages any organization and budgets around 5 millions euros/year? no? so how you know better then a politician with so long proven track of records? form what blogs and portals?! c'mon




    Vann7 wrote:
    Russia needs to setup an alternative to the American system , American banks, American internet ,American Technology and entertainment industry. and promoting Russia as a leader in Agriculture and Sports ,is not going to help in anything. Russia needs to completely modernize its economy , privatize its energy industry that will make Russia energy industry sanction proof.. because will be in the hands of Europe. and if there is  a war or Russia in future change its mind..The Russia government can easily nationalize its energy industry back. no problem.


    but that's exactly what Putin is doing Very Happy:D:D


    Vann7 wrote:
    if Putin pushed in the direction of total Independence of BRICS from US system . or at least Russia convince CHINA to create a military /scientific /and economic alliance , In bank industry ,in Space ,in leading Technology export ,then it will shake the entire world , and US domination and its corrupt system will end ,because there will be a strong alternative to US leadership ,their leading business and banks in the world.  


    and how you'd convince China or other BRICS? huh? arguments? they need to have real tangible results otherwise you turn Russian and them into second Ukraine or Lithuania level ofpolitics.



    If economy size was the same... between German and Saudi Arabia.. it is not the same 5% GDP growth for Saudi Arabia , than a 5% economic growth for Germany. One nation is seen as a third world country and the other is a influential nation in the world.  So RUssia have an image problem , and this is why they have so little influence
    in the west.. among the most developed nations and no real allies that will follow Russia even in the battlefield.
    Only rejected nations follows Russia and this needs to change by transforming Russia economy into a modern innovative one.


    People follow power not anything else. Germany is not respected country. It is country under US occupation. US has no allies has serfs and slaves. KSa is fully dependend of US bot in terms of money as military. They cannot build and design any hi tech till now. And for you thsi is a pattern to follow?!
    So for you budget which is loosing 100 BLN$year due to complete dependency on oil is something Russia shall do?!?!!

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Mon Feb 12, 2018 11:16 pm

    Kimppis wrote:What do you mean? High interest rates and T Bill purchases, or both? Just curious.

    The situation is weird though... I also just realized that the overall GDP growth during the first half of 2017 was possibly faster than during the second, which is really an achievement for the RCB. The slowdown was severe.

    And as already mentioned as well, they are massively overshooting their inflation target... negative GDP growth in November... industrial production overall grew slower than in 2016. So where's that "import substitution"? I realize that the high interest are the reason for that, but still.

    Now RCB forecasts a growth of 1.0-1.5% for the first half of this year. They certainly don't care about short-term growth, that's for sure. "Muh structural reforms, we can't grow faster 1.5%, hur dur." Oh well, I guess they really know what they're doing. Interest rates will inevitably go down, just slower than they realistically should. I don't know, just some very strange figures. 2% was supposed to be pretty much certain, but in the end it wasn't anywhere close.


    I see this as a very prudent approach due to geopolitical factors that we never ever learn. I wonder what will change in marcoceonomical policy after elections?





    The Ministry of Economic Development has improved the forecast for the price of oil and the growth of the Russian economy

    TASS, August 28. The Ministry of Economic Development of Russia expects that the average Urals price for oil in 2017 will be at the level of $ 49 per barrel and will drop to $ 43.8 next year. This is reported by Reuters , who has read the materials of the ministry.

    Against the background of the revised forecast of oil prices, the Economic Development Ministry also improved its forecast for GDP growth to 2.1% in 2017 and 2018, 2.2% in 2019 and 2.3% in 2020, the agency said.



    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4513127

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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Mon Feb 12, 2018 11:36 pm

    Right now, Urals is about $61/bbl
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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Mon Feb 12, 2018 11:49 pm

    Right on Queue, as we predicted:

    https://www.kommersant.ru/doc/3547218?tw

    inflow of cash from Europe heading to Russian banks for deposit as the businessmen are returning their money home in fear of potential sanctions.

    Opposite effect of what Washington wanted I presume.
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    franco

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    Re: Russian Economy General News: #9

    Post  franco on Mon Feb 12, 2018 11:52 pm

    miketheterrible wrote:Right now, Urals is about $61/bbl

    Are you sure? Urals is the lowest priced oil out there.
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    Re: Russian Economy General News: #9

    Post  miketheterrible on Mon Feb 12, 2018 11:58 pm

    franco wrote:
    miketheterrible wrote:Right now, Urals is about $61/bbl

    Are you sure? Urals is the lowest priced oil out there.

    https://oilprice.com/oil-price-charts

    I think you are wrong.
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    franco

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    Re: Russian Economy General News: #9

    Post  franco on Tue Feb 13, 2018 12:03 am

    miketheterrible wrote:
    franco wrote:
    miketheterrible wrote:Right now, Urals is about $61/bbl

    Are you sure? Urals is the lowest priced oil out there.

    https://oilprice.com/oil-price-charts

    I think you are wrong.

    I stand corrected... Embarassed

    I must have been reading too much Western MSM propogada No
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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Tue Feb 13, 2018 12:19 am

    franco wrote:
    miketheterrible wrote:
    franco wrote:
    miketheterrible wrote:Right now, Urals is about $61/bbl

    Are you sure? Urals is the lowest priced oil out there.

    https://oilprice.com/oil-price-charts

    I think you are wrong.

    I stand corrected... Embarassed

    I must have been reading too much Western MSM propogada  No

    Nah, it fluctuates judging by it, but it usually always falls between Brent and WTI.

    Austin

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    Re: Russian Economy General News: #9

    Post  Austin on Tue Feb 13, 2018 7:48 am

    Ural is nearly $1.5 USD below Brent

    When will Putins Economic Plans for 2018 Election be unveiled ?
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Tue Feb 13, 2018 1:02 pm

    Austin wrote:Ural is nearly $1.5 USD below Brent

    When will Putins Economic Plans for 2018 Election be unveiled ?

    You have to ask him to be sure Smile My educated guess is after elections. This is likely his last term. He has to leave state strong and manageable in an efficient manner to me.
    I also presume that stuff he was talking about science lately and changes in financing can make the difference.

    Austin

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    Re: Russian Economy General News: #9

    Post  Austin on Wed Feb 14, 2018 5:12 pm

    Medvedev confirmed: The state is not able to purchase Russian microelectronics

    https://defence.ru/article/medvedev-podtverdil-gosudarstvo-ne-v-sostoyanii-zakupit-rossiiskuyu-mikroelektroniku/

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    Re: Russian Economy General News: #9

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