Russian Economy General News: #12

What a fcukwad title for an article.   I have never heard any surge in GDP growth ever called a "dead cat bounce" when it comes to any
western country.   It is a term typically used in the context of stocks and stock markets.  This article writer is a biased scumbag whose
agenda is to insinuate that Russia's economy is worthless and weak.   He found himself a useful "economist", Nikita Maslennikov, who
says what he desires.    If the current GDP growth in the USA is supposed to be real, then there is no question about it being real in the Russia.  
It is not some "statistical anomaly".  

“In the language of market players, such a dynamics of quotations, which is demonstrated by the Russian GDP this year, is called a“ bounce of a dead cat ”.

What "quotations" is this moron yammering on about in the context of GDP.   The idiot is talking about stock quotations.  

There is something known as the reference base effect.   This is when, for example, the same quarter GDP from the previous year was depressed
and if the current quarter GDP shows even a recovery and modest growth, then in terms of absolute growth it looks more rosy than it actually is.  
This is not a "dead cat bounce" fcukwad.

Investments in fixed capital of industry of the RSFSR and the Russian Federation, in comparable prices (1990 = 1)

Already implanted in Belgium and Germany, Russian MereRetail brand, a hard-discount company, is planning to land in France before the end of 2021, and open 300 stores in the UK.

https://fr.sputniknews.com/economie/202106111045720096-le-hard-discount-russe-mere-sapprete-a-conquerir-leurope/

Kiko wrote:Already implanted in Belgium and Germany, Russian MereRetail brand, a hard-discount company, is planning to land in France before the end of 2021, and open 300 stores in the UK.

https://fr.sputniknews.com/economie/202106111045720096-le-hard-discount-russe-mere-sapprete-a-conquerir-leurope/

That company has already expanded to Spain, Lithuania, Italy, Greece, the Ukraine, Belarus, Kazakhstan, China, Bulgaria, Poland, Romania and of course Russia itself

The actual company is owned by like 2 brothers from Krasnoyarsk who have a history of doing business and dodging taxes. So I'm not sure how many people it actually employs and enriches, probably just the owners.

But what's great about it is that it sources a whole range of Russian-produced products for its European stores. So it's success alone offers a very substantial boost to the exports of Russian food-processing enterprises.

Russia will deploy its own resource monitoring satellites. This includes CO2 emissions and uptake monitoring satellites. Currently,
Russia relies 80% on western satellite products in this area. The problem is that the imperialist west can and will use CO2 emissions
claims as a bludgeon to sanction Russia in the near future. It will fake its satellite data to claim that Russia emits vast amounts of
CO2 and thus deserves to be punished by the "international community". The fact that Russia's forests absorb one billion tons of
CO2 per year will be ignored or suppressed.

Russia emits about 1.7 billion tons of CO2 per year:

https://www.worldometers.info/co2-emissions/russia-co2-emissions/

So its net emissions are 0.7 billion tons of CO2. For a country with the economy of the size in Russia that is impressive. But you
can be sure that NATzO and minion (Japan, Australia, etc.) haters will try to paint Russia as the worst CO2 emitter. Worse than the
hogs in the USA:

https://www.worldometers.info/co2-emissions/us-co2-emissions/

US sanctions on Russia’s sovereign debt come into force


https://www.rt.com/business/526497-us-sanctions-russian-debt-bonds/



The west will only listen to military force and business power , they will not listen to Putin's
petitions of 20 years for "restoring relations" on the principle of the rights for every nation
sovereignty ....

is like trying to convince a mafia gang , in a city ,to "Restore relations" with the residents they don't control yet  by saying please please be nice with us.  

Putin needs to stop asking for "restoring of relations" with the west , it makes him look very stupid ,
and relations was never restored with the west , their plans to break russia never stopped , not even during the collapse of soviet union ,this is when they began the chechen wars and yugoeslavia war , when more they hit russia ,when more weaker it was . and relations  can't be improved either , because the west wants blood ,   russian blood , and russia broken in a million of pieces , and the only thing the anglo west will listen is power , BUSINESS POWER (Business leadership ) that challenge directly their advanced business economy , or Military FORCE if it is every used against them ,to push them back.  Putin does neither one , neither use their military ,to push any nation back , and neither have business power to push back the west and weaken them ,because the idiot president , is totally disconnected with the real problems they face , he really think
he can drive Russia away of problems by just increasing his politeness , the gas station service in the world and winning more olympic medals  


The slow learner President , need to look at the example of china , that is pushing back the west ,with business power ,you can do that . The only thing the west respect is POWER and leadership in the world ,in things the west cares , and nothing else.  The Russia existence depends on two governments in europe , to keep lines open with russia ,and china help to russia economy.

What a fcukwad title for an article.   I have never heard any surge in GDP growth ever called a "dead cat bounce" when it comes to any
western country.  

Because you are not an economist , and neither you look at the right places of what other economist say . It you have any memory at all , you will remember how i was one of the first ones in this forum to talk about the "dead cat bounce" economic term.. this happened in argentina..  

but you live in putin's fantasy la la land , of a "Growing economy" and no one that tells anything negative about russia economy will be accepted.

here is an argentinian economist that wrote many books in economy , that knows a lot about economy , worked for the top banks in the world and  and he talks a lot of this bounce deat cat phenomenon.  when a dead economy , "shows growth"  is a dead bounce cat effect. The cat is dead
but you look like he is alive from far distance because "jumps" but is not a jump ,is a bounce of a dead body and in this case is a dead economy.

and i also was the first one that told you , that none of this "gdp growth" matters at all , because
Russia is on a death sentence by the west and it have absolutely no way to avoid ,their final outcome, death of russia.  and the reason is simple. because russia is not fighting back .

if you have someone attempting to dinamite your business , when you are selling more potatoes , in your business ,this temporary growth , is just that , a temporary thing. if you don't stop the terrorist , or dissuade him , to stop attempting to blow up your busines ,and instead ,what you do is completely ignore that he exist, then your enemies eventually sooner or later will get it right ,and
will find a way to blow your entire business with dynamite ,leaving you without a source of income and in bankruptcy.

so this is why none of this "progress" of putin with russia economy matters at all . it just numbers in paper but it doesn't reflect reality . if i was an billionaire investor , russia will be the last place to invest ,because is under sanctions and attacks , by the leader of the global economy and russia is not fighting back , and have no way to properly defend itself ,if the government , look to the other side and not face the hostile faction trying to blow up their entire nation and split it in a million pieces.
if you see a snake in your house and you allow it to continue there , leave her to freely move in peace ,eventually that snake with byte you and will kill you. you don't ignore danger ,you confront it .
you either kill the snake or you move from house ,to another place , but ignoring it is welcoming an attack by the snake not only to you but to your family members too.

And this is exactly what putin is doing , ignoring their enemies , allowing them to continue santioning
russia , to continue provoking conflicts at russian borders , continue financing oppositions and terrorist and they face no consequences for their actions. so they continue doing it until they get it done , and destroy russia.  So russia is facing war , is a slow indirect war and russia is not doing anything to fight back. So the russian government needs , to fight back ,can't get away from this .
and you don't fight back by being polite , by being nice with the west, you don't fight back ,by not fighting their military ,(something that im not promoting) , neither you fight by not offering competition ,to their most influential and popular business.  By behaving as business like usual ,
and focusing on pipelines and spots events, in times russia is facing a real war , what you do is encouraging more hostilities against your country. because the west see no reason to stop , because putin do nothing.     Russia need to follow the example of china and do a complete 180 degree with the russian economy ,privatize those pipelines to europe , and half of their food , and all those soviet era garbage business ,and start a major education revolution in russia , and invest heavily in space and in semiconductors and more advanced technology too ,quantum computers , to put an end to the monopoly of the semiconductor anglotaiwanese mafia that have over the world ,and bring down their economies , by offering superior business.  celebrating a million of victory parades or sport events will not change anything for good in russia ,until their the west stopped from doing what they are doing , trying to blow up the russian economy.  This can be done only by fighting back ,either with business or with military . Leadership in advance high tech business is the only way to
stop those seeking to destroy russia. Because if they don't follow the new leader ,then they will become isolated themselves from the world. The world will follow those that lead with business that shape the future of the world.

i will not say Russia is a dead economy yet , but is an economy under a death sentence and putin have zero plans , nothing ,to counter the dangers , other than hope ,that those pipelines they
building to europe minimize the damages they will get to the western attacks.  
an economy that "survive" is not an option anymore for Russia.

so i will call better the russian economy ,
the quicksand economy.

Russia is on a quicksand future , with a stagnated economy , paralized progress ,that have no much room or place to grow ,because its idiot president it have created a very lazy and vulnerable economy that is highly vulnerable to the western attacks , since they controls heavily europe , and eventually is a matter of time ,they will get the right leaders in germany and france ,through elections hacking or bribery ,to totally break russia energy industry.
china is also moving away from external dependence on oil and external gas stations , is moving to total energy independence nation. This is what smart and modern nations do .  so not only the european market will be closed to russia economy , but also china too .  So Russia is a quicksand economy , is an economy that have not much room to move and its outcome is predictable ,can only go down. because have no future. Russia economy is on a death trap. a true quicksand economy.

honestly , i dont think russia will be around today existing ,if it wasn't by Germany and france ,
rescuing russia ,for the plans obama had for ukraine. that blocked obama ,from using ukraine
to provoke a big war with russia. The ukraine conflict is a death trap , that russia have no chance
to survive. with nato arming the opposition and the major opposition of civilians ,friendly to nato.
will be like donetsk is now but multiplied by a million , and russian army soldiers killed a lot by
road side bombs and "mysterious" large waves kamikazi drones. The combination of a full scale ukraine war ,with western sanctions , and disconnection from swift and the war on oil prices will have bring down russia economy to its knees. being in 3 wars at same time ,syria ,ukraine and armenia and caused major civil unrest in the nation.

but eventually the west will get it done and find a way to bring down to negative levels the russian economy. so the next 5 years will be the most important for russia future... will be surprised if putin is still in power in that time. with the major civil unrest that will happen.

Get past the anti-China hate propaganda excrement at the beginning of the video to around 2:00.
Australia is spending 90 billion Australian dollars or 68 billion USD to buy 12 diesel-electric subs.
That is 5.7 billion USD per sub.

The Russian project 636.3 submarines were being sold to Vietnam and others for 300 million USD. So we
are are looking at 19 times the price. The French submarines are in no way 19 times superior
to the Russian submarines of this class. No oxygen recycling or generation system for longer duration
under water operation justifies such a markup. This class of submarines are never going to be
in the nuclear class.

This demonstrates the sort of grotesque corruption and price gouging in the western military procurement.
The Russian military industry easily has a PPP factor of 10. Not even the factor of six I was posting before.
The Russian military budget is similarly 10 times more potent than its nominal 61.7 billion USD size suggests.

GarryB wrote:I would say the real problem is the oceans... how much Russian sewerage and rubbish ends up in the Atlantic and Pacific oceans?

I would say the biggest offenders in both cases are the west and the plastic and crap being dumped into the sea are doing serious damage to a lot of ocean life which actually have a very significant effect on the amount of CO2 in the air...

Once the water temperatures get high enough there will be mass extinctions of all the major food groups in the oceans which will have a catastrophic effect on the larger life forms which we tend to depend on for a large portion of our food intake.

They are already having problems in Australia with sea turtles who are all turning out to be girls because of the water temperature... that is going to slash population numbers on its own without any other problems.

That was supposed to be a survival mechanism because the extra females would expand the population growth because a smaller number of males could create more offspring, but if they are all girls then there is an obvious problem.

Most of the large US cities are on its coast. The only large city that Russia has on a coast is St. Petersburg. Vladivostok is much smaller. The volume of
garbage and sewage Russia puts into the oceans is vastly smaller than the USA in per capita terms. Russian plastic waste is going into landfills, incinerators
and recycling. It is not being shipped to the Philippines like Canadian recycled waste for trivial disposal.

But I would say that most plastic waste in the world's ocean is from the 3rd world which has no recycling program or even proper garbage collection.
When I was in India the landscape was coated with plastic bags. I am not exaggerating. There was a shocking layer of plastic bags deposited by the
wind outside of parks and farmland. Even around sacred shrines there was garbage (mostly plastic) covering the sides of roads. The Ganges River
ducts untreated sewage into the Indian Ocean. The scale is shocking.

kvs wrote:

Get past the anti-China hate propaganda excrement at the beginning of the video to around 2:00.
Australia is spending 90 billion Australian dollars or 68 billion USD to buy 12 diesel-electric subs.
That is 5.7 billion USD per sub.  

The Russian project 636.3 submarines were being sold to Vietnam and others for 300 million USD.   So we
are are looking at 19 times the price.   The French submarines are in no way 19 times superior
to the Russian submarines of this class.   No oxygen recycling or generation system for longer duration
under water operation justifies such a markup.    This class of submarines are never going to be
in the nuclear class.  

This demonstrates the sort of grotesque corruption and price gouging in the western military procurement.
The Russian military industry easily has a PPP factor of 10.   Not even the factor of six I was posting before.
The Russian military budget is similarly 10 times more potent than its nominal 61.7 billion USD size suggests.

The west knows that Russia or China are not going to attack, so they are just running a mafia military industry, where they just sell high priced crap.

It is a racket right now and it will push the west behind Russia and China in military technology.

Russia overtook China in terms of economic development in the SEDA rating

In the rating of the countries of the world according to the Sustainable Economic Development Assessment (SEDA), Russia in 2020 took 53rd place, gaining 56.41 points, overtaking China in terms of the rate of change for the better. This information follows from the data of the annual index, which is made by The Boston Consulting Group (BCG).

In the area of ​​economic stability, Russia also improved its result from 72 to 80 points.

"According to the SEDA study, the overall assessment of Russia is 56.4 points, this is the highest indicator for our country in the entire history of observations, " Rossiyskaya Gazeta quotes the words from the report of the managing director, partner of BCG, head of the expert practice for working with the public sector. in Russia by Dmitry Garanin.

He added that the Russian Federation has improved its overall result by 3.49 points compared to 2016, while the PRC has advanced 3.15 points during this time.

According to the response, states with high overall SEDA tended to cushion the drop in economic performance and the rise in unemployment during the coronavirus pandemic .

The report emphasizes that despite the ongoing fight against the pandemic, countries need to take into account the long-term perspective and make investments that will lead to faster and more sustainable progress in the coming recovery. Three areas are identified as priorities: combating climate change, investing in digitalization, strengthening social protection systems to ensure inclusive and equitable growth.

According to another BCG report, Global Wealth 2021: When Customers Take the Lead, released on June 10, Russia's 2019-2020 financial wealth growth rate outstrips Eastern Europe and the global average at 13%, up from 12% and 8. 3% respectively.

https://iz.ru/1180117/2021-06-17/rossiia-obognala-kitai-po-tempam-razvitiia-ekonomiki-v-reitinge-seda

kvs wrote:Australia is spending 90 billion Australian dollars or 68 billion USD to buy 12 diesel-electric subs.
That is 5.7 billion USD per sub.  

The Russian project 636.3 submarines were being sold to Vietnam and others for 300 million USD.   So we
are are looking at 19 times the price.   The French submarines are in no way 19 times superior
to the Russian submarines of this class.   No oxygen recycling or generation system for longer duration
under water operation justifies such a markup.    This class of submarines are never going to be
in the nuclear class.

They could have bought an off the shelf submarine like the one the Japanese made.
Instead they decided to buy a paper submarine which is yet to be designed based on a French nuclear attack submarine which was still in initial construction.
Oh and they also want to build them in Australia. So no, there is no way that would be cheap.

lancelot wrote:

kvs wrote:Australia is spending 90 billion Australian dollars or 68 billion USD to buy 12 diesel-electric subs.
That is 5.7 billion USD per sub.  

The Russian project 636.3 submarines were being sold to Vietnam and others for 300 million USD.   So we
are are looking at 19 times the price.   The French submarines are in no way 19 times superior
to the Russian submarines of this class.   No oxygen recycling or generation system for longer duration
under water operation justifies such a markup.    This class of submarines are never going to be
in the nuclear class.

They could have bought an off the shelf submarine like the one the Japanese made.
Instead they decided to buy a paper submarine which is yet to be designed based on a French nuclear attack submarine which was still in initial construction.
Oh and they also want to build them in Australia. So no, there is no way that would be cheap.

OK, so this story has evolved since the last time I checked. Originally they did plan to buy the Soryuu submarines for about 2 billion USD a pop.
Now they want some sort of larger non-nuclear model. My PPP factor estimate still stands. Does Australia plan to become a submarine construction
hub? Seriously....

Europe is hooked on Russian goods: how the country is increasing exports
20.06.2021

MOSCOW, June 20 - RIA Novosti, Irina Badmaeva. Russia has become one of the main suppliers of the EU - mutual trade turnover has increased. The result for January-April is 70.3 billion euros. The European economy is slowly but surely recovering from the pandemic. Demand for Russian goods is also growing. What exactly are they ready to buy in the West - in the material of RIA Novosti.

Russia entered the top three

Forty two and a half billion euros - this is the EU's imports from Russia in the first four months of the year. This is 12 and a half percent more than in the same period of 2020. The result is in the top 3, according to Eurostat. Only the United States is ahead with 71.4 billion and China with 139.4 billion.

With regard to exports from the EU, the leaders here are the same USA (125.4 billion euros), Great Britain (almost 88) and China (about 74). Russia has 27.8 billion (plus 7.3 percent).

The European Union is traditionally one of our main trading partners. Its share in the first quarter accounted for almost 35 and a half percent of foreign trade turnover, the Federal Customs Service notes. This is almost three times more than the figure for the CIS. Asia-Pacific Economic Cooperation has 34 percent.

Trade turnover with China in January-April - $ 39.2 billion. With the United States - a little more than ten, Turkey and Korea - nine each, the United Kingdom - about seven.

Basically, the EU buys from Russia the products of the fuel and energy complex. "For example, supplies of natural gas have grown significantly due to the abnormally cold and prolonged winter in Europe. According to Gazprom, in three months at once by 30.7 percent on an annualized basis," said Mark Goikhman, chief economist at the Information and Analytical Center TeleTrade.

They - raw materials, us - technologies, components, high-quality sources (in particular, in the agricultural sector). Let it be less than before the sanctions, but still significant. For example, to Germany we ship mineral fuels, timber, ferrous and non-ferrous metals and products from them. From there we get equipment, including medical, pharmaceuticals, perfumes, cosmetics, detergents. All are highly processed.

In Eurostat, the revival of mutual trade is explained by the gradual easing of anti-coronavirus restrictions. "The European economy is recovering, albeit slowly, after a difficult 2020," says Ivan Kroshny, owner and CEO of Gerchik & Co., a brokerage company.

Recently, the President of the European Central Bank Christine Lagarde announced that in the first quarter of 2022, the economic indicators of the EU will return to the pre-dock level.

"If its forecasts come true, production and consumption in Europe will increase. This means that the demand for Russian goods, and above all for energy resources, will continue to grow," says the source of RIA Novosti.

Great hopes are pinned on the launch of Nord Stream 2. Blue fuel will remain one of the main domestic export goods to the European Union - however, like metals and chemical products.

Food Rate

However, one should not forget that trade with Russia is highly politicized. Difficulties may arise at any moment. The trade turnover with the EU was the highest in 2008 - about 360 billion euros. Since then, the record has not been broken. Even in 2013 it was less.

"Due to the anti-Russian sanctions, supplies have significantly decreased. Now we are seeing some leveling off of the trend after the fall in previous years. It is not a fact that the growth will be long-term and sustainable. Since the EU market for Russia is traditional, it is difficult to expect a sharp jump. For this, the structure must change. export - or the whole system of international economic relations ", - said Lyudmila Shkvarya, professor at the Faculty of Economics of the RUDN University.

Meanwhile, the Russian authorities are optimistic. We have something to offer the European consumer in addition to black gold with blue fuel. Russia by 2030 may enter the top 10 food suppliers, Deputy Prime Minister Victoria Abramchenko said at a meeting of the final board of the Ministry of Agriculture. While we are in the top twenty. And we are inferior to such countries as Poland, Mexico, Thailand, Australia.

The rise in the agricultural sector allowed in 2020 to increase exports by almost 20 percent, to $ 30 billion, which for the first time exceeded imports, Abramchenko said. Good dynamics are also maintained this year. By June, the agro-industrial complex (AIC) sent abroad products for 12 and a half billion dollars. And this is just the beginning.

However, it is necessary to tackle digitalization and reduce the costs of enterprises. We will have to rebuild many technological and logistics chains, make changes in food production, the Deputy Prime Minister said.

The press service of the Ministry of Agriculture informed: Russia showed the highest growth rates of food exports in the world. In six years - by 90 percent, more than $ 14 billion. According to the department, the main drivers of development will be the supply of grain, vegetable oils, fish and seafood, meat and dairy products, confectionery.

Key regions for increasing trade are China, India, Southeast Asia, the Middle East, Africa, as well as the countries of the post-Soviet space.

https://ria.ru/20210620/export-1737564831.html

franco wrote:

overtaking China in terms of the rate of change for the better. This information follows from the data of the annual index, which is made by The Boston Consulting Group (BCG).

overtake china rate of change "for the better" ...  

Is this the same nation that is facing a third major wave pandemic , and breaking all records and hospitals at max capacity now in moscow?  according to RT

Russia will be lucky if it don't collapse from the pandemic alone..
and not worries , china is doing very well ,the best performing economy in the pandemic era.

but is not surprising ,the report.. boston consulting group ,sounds like propaganda to me ,
stretching imagination to make it look china ,the nation leading the world economy , leading in space , with the most united and proud nation in the world ,with an increasing population , is losing even
to the mass exodus russia.   



The west is doing everything to try to downplay china rise and momentum , is called psicological war , and downplaying enemies and trying to get russia and china in a rivalry is not going to work.  anyone can make up statistic to make it look Venezuela or russia , gas stations economies are rising beyond china in "economic Development"  this is pure bullshit , what they claim.  

  is pure propaganda manipulated reports and don't fall for it . When the west downplays a nation is because is doing extremely well and they are worried about it , and when they talk good about and enemy , as they doing to russia , is when they need to be worried , because they likely doing a major mistake. and the west the last thing they will want to do ,is alert their adversaries of the mistakes they doing.


People should stop this blind fanaticism with Russia . This forums looks more like a public relations
forum for Russia , trying to find any thing as little it could be , to say something positive about russia , while ignoring completely or even rejecting any bad news.    


Russia economy only in dreams is surpassing china , they will be lucky if they don't collapse , from the sanctions and US proxy war on them. Russia needs china for its own survival ,without china economic aid ,russia will become extremely vulnerable to western sanctions and wars.  My Prediction is ,the next 5 years will be the most difficult ones on russia federation history , with the democrats in power and mark my words , all the west needs to make life miserable to putin , is replace macron and merkel in europe , for hardliners pro NATO and you will see russia on its knees ,when they block russian gas stations pipelines to europe and they pushing and/or provoke major new very big conflicts with around russia borders . Russia economy is operating in survival mode only ,and not changing for any good , but for worse.  and will not handle well , a united sanctions front of US and europe .

what will putin do , when US manage to remove macron and merkel ,and sanction russia gas station business? it will be the sum of all fears for putin , the return of the 90s for Russia. so this is when putin incompetence or mastery will be put to test for real ,when he no longer can count on germany and france support to carry on Russia economy. he will not do well , he have no strategy at all ,to
develop russia ,without europe. and china is also seeking its own energy independence too , so putin's saudi arabia of asia project will not last long . it will be very interesting times for russia existence , to see how putin popularity collapse ,even with his own supporters, when those pipelines to the west becomes useless and Russia sanctioned by europe in full force , after american and british get them in line , more obedient than ever.

The economic power of the Russian market

According to a copy of a letter seen by Sputnik, Moet Hennessy Distribution Rus, the Russian distributor of Moet Hennessy, informed its Russian partners that it was temporarily suspending shipments of a range of sparkling wines. According to the letter, the termination of the supply of sparkling wines is due to amendments to Federal law 171 "On the regulation of alcoholic beverages", adopted on Friday.

The law clarifies definitions and introduces additional requirements for wine products. In particular, the law excludes the concept of "champagne", allowing it to be used only in relation to "Russian champagne" produced in Russia.


Later, Bloomberg, citing a statement from the company, reported that Moet Hennessy had agreed to change the labeling from "champagne" to "sparkling wine" for products supplied to Russia.

Well, the makers of French Champagne ruthlessly pursue all companies making similar not to use their "brand name".
Russia founded it own Champagne production in the 1800s thanks to French expats.

Do a Google search on this and you will get a stream of hate propaganda from the usual western fake stream media
sources all spazzing how this is an outrageous move.

Hurray for Putin and his trolling. Eat shit hypocrites.

It turns out that the new law/regulation does not prevent French Champagne being sold as Champagne in Russia. This is all about
health quality standards. Russia has higher legal standards then the EU and so the French product is required to meet Russian
regulations if it is to be sold as Champagne. This is not so bizarre, as I said Russia has its own Champagne variant (no, not the
Soviet Champagne) so it does not have to defer to France out of grovelling respect.

The Ministry of Finance finally withdrew dollars from the structure of the NWF

The American currency has completely withdrawn from the structure of the National Wealth Fund.

The Ministry of Finance has completed all operations to convert funds in the National Wealth Fund. Now, there are no dollars among the funds of the fund, which previously accounted for 35% of the total NWF.

Together with the dollar, the pounds sterling experienced a contraction (from 10% to 5%). At the same time, the NWF has increased in euro (from 35% to 39.7%), yuan (from 15% to 30.4%) and gold (from 0% to 20.2%). The volume of the Japanese yen decreased slightly - from 5% to 4.7%.

The Ministry of Finance has calculated that the volume of the NWF as of July 1 of this year amounted to 13.575 trillion rubles, having decreased by 363 billion rubles last month.

German Market Waiting for Russian IT Products, 07.07.2021

A panel discussion on Russian exports to Germany has been held at INNOPROM 2021.

“Today, we have the ‘ingredients’ needed to ‘soup up’ the entry of Russian IT products onto the German market. German experts admit that Russian IT products are often superior to German ones. This shows the demand for Russian technologies on the global market, including the German sector. But there are a few ingredients that need to be added: regulation and trust on the part of partners”, Andrey Sobolev, Russian Federation Trade Representative to Germany, said at INNOPROM 2021 during a panel discussion on exports to Germany as part of the Russian Export Centre’s Business Mission.

Matthias Schepp, chairman of the German-Russian Chamber of Commerce Abroad, confirmed the German interest in Russian IT developments, and added: “The level of IT products in Russia is undeniably at the top of the world markets”.

According to panel moderator Sergei Vologodsky, vice president of REC JSC, the share of information and communication technology exports in total services exports has seen an upward trend, growing over the past two years from 8.1% in 2018 to 12.7% in 2020:
“If we consider exports in terms of IT technologies, according to the Central Bank's statistics, last year there was a slight increase in exports, reaching almost $6 billion. At the same time, we have all been seeing the emerging trend of digitalisation in the industry over the last few years. Development institutions are doing their utmost to ensure that our industrial enterprises implement the most advanced digital solutions, which make them more competitive, and allow to produce higher quality products that are in demand not only on the Russian market, but also on foreign ones – new tools are being launched”.

Victor Taratukhin from SAP CIS, Anna Urumyan, head of the Representative Office of the Federal State of Lower Saxony in Russia, and Vasily Mashkin, deputy head of the Project Department at the Industrial Development Fund, also joined the shirtsleeves meeting with exporters.

Exporters had a chance to discuss with experts the existing barriers for Russian products, the requirements of the German market, and also to share their experience of communicating with their German partners.

In assessing this year’s session, Sergei Vologodsky noted that the German market is open for Russian IT producers, and several successful cases of exporters are a prime example. At the same time, further synchronisation of work between development institutions, business associations, and trade missions is necessary to increase the exports of Russian IT solutions, while the established support system can help in entering foreign markets.

https://sputniknews.com/business/202107071083330770-german-market-waiting-for-russian-it-products/

Capital flight from Russia drops nearly 10% in first six months of year, 10.07.2021

The net capital outflow from the Russian Federation in January-June this year totaled $28.2 billion, the Central Bank of Russia (CBR) reported on Friday.

This is a 9.6% decrease compared to last year, according to the regulator. At the end of the first half of 2020, the indicator stood at $31.2 billion.

The CBR explained that “investments of other sectors in foreign assets with a slight decrease in external liabilities” contributed to the change.

At the same time, the central bank added that, with regard to the dynamics of capital outflow in 2020, there was also a noticeable “decrease in banks’ external liabilities.” In 2020, net capital outflow from Russia by the private sector increased 2.2 times compared to 2019 and amounted to $47.8 billion.

The CBR also said Russia’s positive foreign trade balance increased by 24.8% in the last six months compared to the same period last year and amounted to $62.4 billion.

At the end of the reporting period of 2020, the country’s foreign trade surplus stood at $50 billion.Russia’s trade surplus for 2020 totaled $89.4 billion, which was 45.9% less than in 2019.

https://www.rt.com/business/528804-capital-outflow-down-russia/