Russian Economy General News: #6

kvs wrote:Guriev clearly knows who pays for the butter on his slice of bread.   He is serving his NATO patrons well.

India and Russia are developing a road map for mutual settlements in national currencies which could open prospects for both countries, India’s Ambassador to Russia Pankaj Saran told RIA Novosti on Wednesday.

"Transition to mutual settlements in national currencies of the BRICS looks promising. Russian and Indian companies are interested in using national currencies in trade settlements,” he said, adding that there is already a mechanism in place for them to use.

Austin wrote:What will Russia be like in 2030?

Gathered at a forum in the heart of Siberia, leading Russian economists have outlined their vision for the country's future. Discussions at the Krasnoyarsk Economic Forum focused on issues including decentralization, developing food technologies and healthcare.

http://rbth.com/business/2016/02/25/what-will-russia-be-like-in-2030_570579

Werewolf wrote:Can you link it?

Austin wrote:

Werewolf wrote:Can you link it?

Found it http://www.bbc.com/news/world-35654714

MOSCOW, February 26. /TASS/. Reducing the budget by 10% in 2016 will save about 490 bln rubles ($6.5 bln), Deputy Finance Minister Yuri Zubarev said Friday.

"A 10% expected reduction of budget expenditures will give about 490 bln rubles ($6.5 bln)," Zubarev said, speaking at the plenary session of the State Duma.

Earlier Finance Minister Anton Siluanov said that the reduction of budget expenditures by 10% with the exception of the so-called protected articles would allow to save 512 bln rubles ($6.8 bln). Siluanov said that the ministries and agencies will receive the corresponding allowance for 2016, and then determine the priorities for it, and make decisions about choosing the most effective basic expenses and cutting inefficient spending.

Amendments to the 2016 budget could be presented in April.

Austin wrote:Russian Unemployment Increased By About 5% In 2015

http://www.forbes.com/sites/markadomanis/2016/02/27/russian-unemployment-increased-by-about-5-in-2015/?utm_source=followingweekly&utm_medium=email&utm_campaign=20160229#b679dbc1816a

AlfaT8 wrote:

Austin wrote:Russian Unemployment Increased By About 5% In 2015

http://www.forbes.com/sites/markadomanis/2016/02/27/russian-unemployment-increased-by-about-5-in-2015/?utm_source=followingweekly&utm_medium=email&utm_campaign=20160229#b679dbc1816a

What!!

That would mean that Russia currently has around 10% overall unemployment??

Strange, cause the highest figure i have heard was 8%.

AlfaT8 wrote:

Austin wrote:Russian Unemployment Increased By About 5% In 2015

http://www.forbes.com/sites/markadomanis/2016/02/27/russian-unemployment-increased-by-about-5-in-2015/?utm_source=followingweekly&utm_medium=email&utm_campaign=20160229#b679dbc1816a

What!!

That would mean that Russia currently has around 10% overall unemployment??

Strange, cause the highest figure i have heard was 8%.

zg18 wrote:Russia's Economy Is Tanking, So Why Is Putin Smiling?

http://www.bloomberg.com/news/articles/2016-03-01/as-russia-s-economy-contracts-putin-s-preferred-indicator-is-up

“Vladimir Putin recognized the power of reserves in 2008-2009, when thanks to them he survived the crisis without significant losses,”

kvs wrote:

AlfaT8 wrote:

Austin wrote:Russian Unemployment Increased By About 5% In 2015

http://www.forbes.com/sites/markadomanis/2016/02/27/russian-unemployment-increased-by-about-5-in-2015/?utm_source=followingweekly&utm_medium=email&utm_campaign=20160229#b679dbc1816a

What!!

That would mean that Russia currently has around 10% overall unemployment??

Strange, cause the highest figure i have heard was 8%.

For a recession year a 5% increase from 5.5% ILO x 1.05 = 5.775% ILO is basically nothing.   It proves that Russia's
economy is much more robust than all the doomer drivel spewers in NATO and their fellow travelers are claiming.   A
mild recession in Canada usually sees the unemployment going up from say 7% to 8.5%.   BTW, Canada's current unemployment
rate (ILO) is 7.1%.  

MP Sergey Obukhov wants to have all branches of Russian state-owned banks closed in Ukraine, because of the increasing risks for business and bank personnel, and the hostile attitude of the Kiev authorities.

The volume of IT-exports from Russia amounted to US $ 7 billion in 2015, the United States, said at the Russian Ministry of Communications and Mass Communications.

This figure "should be seen in comparison" with traditional exports to Russia views as weapons and agricultural products. "An important comparison here is, for example, the export of arms, which last year amounted to about 15 billion dollars, or such agricultural exports - 16 billion dollars", - explained in the ministry.

The US government and a handful of corporations working under US jurisdiction have a disproportionately strong influence on the internet. So other countries are mulling ways to protect their web sectors, the Russian communications minister told RT.

“Today, if you have a look at the whole IT global system, you will see that the whole world… is actually totally dominated by a single country and literally by several companies, which have practically monopolized the entire IT system,” Nikolay Nikiforov said.

The issue is not only about market shares of tech giants such as Google and Facebook, but also about the US government’s control of critical elements of the internet’s infrastructure, he said.

One small example is the Internet Corporation for Assigned Names and Numbers (ICANN), which assigns internet domain names. In 2014, the US pledged to hand over control over it from the US Department of Communications to a multi-stakeholder collective, which would include governments, companies, international organizations and individual users. The transition was scheduled to happen in September last year, but was postponed for at least a year.

“This didn’t happen for some reason, and many reasons were voiced. I believe them to be pretty far-fetched,” Nikiforov said.

“With this prolonged monopolization, many countries in the world are working on technical solutions that would protect national segments of the internet from a possible external destructive action. They are creating backup infrastructures, which respond to a disruption – intentional or accidental – and prevent national segments from being blocked,” he added.

The minister said Russia is among the countries heavily investing in the internet and naturally wants to protect this investment.

The issue is not theoretical for Russia. As part of the US-imposed sanctions, several American companies suspended their services in Crimea, which seceded from Ukraine in response to an armed coup in Kiev and rejoined with Russia. Washington called the move illegal and targeted individuals and some sectors of the Russian economy with sanctions.

Google, Apple, PayPal and others cut Crimea from their services. This affected tens of thousands of people, who could no longer properly update the software for their phones, buy apps, use electronic payments for online products and do other basic things.