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    Russian Economy General News: #8

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    Austin

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    Post  Austin on Tue Nov 21, 2017 1:37 pm

    Bondarev: agreed amount of GPU for 2018-2025 is 19 trillion rubles

    Подробнее на ТАСС:
    http://tass.ru/armiya-i-opk/4746605


    MOSCOW, November 21. / TASS /. The coordinated volume of the state program of armaments (GPV) for 2018-2025 is 19 trillion rubles. This was reported on Tuesday by the ex-commander of the Russian Air Force, the head of the Council of the Federation Council on Defense and Security Viktor Bondarev.

    "The new state armament program is almost ready, the finalization is in the final stage, I recall that for a long time the financing parameters have been the subject of heated discussion, but the agreed amount was 19 trillion. And if we take not the absolute figures but the average annual value, the current program turns out to be financially comparable with the previous one "- said the senator.

    He clarified that in some areas of work in the new GPV prolonged until 2027.

    Bondarev also said that the hypersonic "Zircon" missiles and the Skif ground-based missiles are part of the arsenal of the Russian Armed Forces.

    "To date, we have in our arsenal unique strategic bombers (Tu-160), OTRK with powerful ballistic and cruise missiles (the Iskander family), Sarmat TRC, air defense systems (S-400), intercontinental ballistic missiles, atomic missile cruisers with powerful anti-ship missiles (hypersonic "Zircon" missile), Skif bottom-based missiles, "he said.
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    Post  GunshipDemocracy on Tue Nov 21, 2017 1:49 pm

    Austin wrote:Bondarev: agreed amount of GPU for 2018-2025 is 19 trillion rubles

    Подробнее на ТАСС:
    http://tass.ru/armiya-i-opk/4746605


    MOSCOW, November 21. / TASS /. The coordinated volume of the state program of armaments (GPV) for 2018-2025 is 19 trillion rubles. This was reported on Tuesday by the ex-commander of the Russian Air Force, the head of the Council of the Federation Council on Defense and Security Viktor Bondarev.

    "The new state armament program is almost ready, the finalization is in the final stage, I recall that for a long time the financing parameters have been the subject of heated discussion, but the agreed amount was 19 trillion. And if we take not the absolute figures but the average annual value, the current program turns out to be financially comparable with the previous one "- said the senator.

    He clarified that in some areas of work in the new GPV prolonged until 2027.

    Bondarev also said that the hypersonic "Zircon" missiles and the Skif ground-based missiles are part of the arsenal of the Russian Armed Forces.

    "To date, we have in our arsenal unique strategic bombers (Tu-160), OTRK with powerful ballistic and cruise missiles (the Iskander family), Sarmat TRC, air defense systems (S-400), intercontinental ballistic missiles, atomic missile cruisers with powerful anti-ship missiles (hypersonic "Zircon" missile), Skif bottom-based missiles, "he said.




    That's not the text with link you provided Smile could you please add the one with Skiff info? BTW Skiff will be planted to bottom by Belgorod subs?



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    Post  Austin on Wed Nov 22, 2017 7:38 pm

    I posted about skiff in strategic thread

    The Illusion of Growth

    ^^ what does one make of that write up ?
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    Post  Cyberspec on Thu Nov 23, 2017 4:19 am

    It means that since 2007 instead of reforms, they've been doubling down
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    Post  GunshipDemocracy on Thu Nov 23, 2017 6:00 pm



    OPK should be ready to rapidly increase output, Putin said

    OCHAROV RUCEI (Sochi), Nov 22 - RIA Novosti. Large and strategic enterprises of the defense industry should be ready, if necessary, to rapidly increase the volume of products and services, said Russian President Vladimir Putin.

    "I note that the ability of the economy to rapidly increase the volume of defense products and services at the right time is one of the most important conditions for ensuring the security of the state: all strategic and simply large enterprises should be prepared for this regardless of the form of ownership," Putin said at a meeting on military matters .

    He noted that in 2015-2016 this topic was discussed in detail, and corresponding instructions were given to modernize production facilities, build up reserves of material and technical resources, and ensure the transport of troops. "This work is carried out by ministries and departments under the guidance of the Collegium of the Military Industrial Commission and in close cooperation between the Ministry of Defense," Putin said.

    The Russian leader asked during the meeting to briefly summarize the results of this work and report on what defects of the past years were eliminated, and what problems could not be eliminated.

    https://vpk.name/news/199038_opk_dolzhen_byit_gotov_byistro_uvelichit_obem_produkcii_zayavil_putin.html



    Putin on the results of exercises "West-2017" called for increased mobilization readiness

    https://vpk.name/news/199058_putin_po_itogam_uchenii_zapad2017_prizval_povyisit_mobilizacionnuyu_gotovnost.html



    Both above do not sound too optimistic ... What a Face What a Face What a Face



    Cyberspec wrote:It means that since 2007 instead of reforms, they've been doubling down

    Qua?  what doubling down?
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    Post  kvs on Thu Nov 23, 2017 6:25 pm

    Cyberspec wrote:It means that since 2007 instead of reforms, they've been doubling down

    The word "reform" has become a dirty smear like "democracy" (aka dermocracy and demokrads). It is code
    for monetarist ass rape. Russia needs only the following reforms:

    1) The Fed-like CBR should be replaced with an institution on a tighter leash. Nabiullina's insane interest rate policy is
    suppressing Russian GDP growth (and hence development).

    2) Elimination of bureaucracy. Under Yeltsin (the "palpable humanitarian") it mushroomed to twice the size it was under
    communism. Stop and let that one sink in. There need to draconian reductions (at least 50%) in the size of this
    parasite swamp. The remaining parasites need to be chained to the wall. Right now they are basically writing the
    de facto laws of how to deal with cases. You can see all sorts of Kafkaeqsue excesses that serve no purpose other
    than to foster dissent and slow Russia's revival.

    Both (1) and (2) have contributed directly to suppression of small and medium size business development in Russia.
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    Post  GunshipDemocracy on Thu Nov 23, 2017 7:02 pm

    kvs wrote:
    Cyberspec wrote:It means that since 2007 instead of reforms, they've been doubling down

    The word "reform" has become a dirty smear like "democracy" (aka dermocracy and demokrads).     It is code
    for monetarist ass rape.    Russia needs only the following reforms:

    1) The Fed-like CBR should be replaced with an institution on a tighter leash.   Nabiullina's insane interest rate policy is
    suppressing Russian GDP growth (and hence development).

    2) Elimination of bureaucracy.   Under Yeltsin (the "palpable humanitarian") it mushroomed to twice the size it was under
    communism.  Stop and let that one sink in.    There need to draconian reductions (at least 50%) in the size of this
    parasite swamp.   The remaining parasites need to be chained to the wall.   Right now they are basically writing the
    de facto laws of how to deal with cases.   You can see all sorts of Kafkaeqsue excesses that serve no purpose other
    than to foster dissent and slow Russia's revival.  

    Both (1) and (2) have contributed directly to suppression of small and medium size business development in Russia.

    Well to me the reason why Putin is not changing much about current situation is either he cannot do anything or...he is working of something much bigger.
    Like upgrading state apparatus with new people (All-Russia People's Front ?).

    About Putins apporach we can both speculate but lower rates is an opportunity and rsk... apparently risk is higher tnan opportunity.
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    Post  miketheterrible on Fri Nov 24, 2017 3:00 pm

    http://tass.com/economy/977276/amp

    BRICS countries mulling formation of single gold trade system
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    Post  Cyberspec on Sat Nov 25, 2017 8:21 am

    GunshipDemocracy wrote:

    Cyberspec wrote:It means that since 2007 instead of reforms, they've been doubling down

    Qua? what doubling down?

    Doubling down (increasing) the printing of money



    GunshipDemocracy wrote:About Putins apporach we can both speculate but lower rates is an opportunity and rsk... apparently risk is higher tnan opportunity.

    Nabulina's explanation

    For reasons that are frustrating the central bank, price growth as perceived by Russians is almost four times the headline number. That’s leaving monetary policy hostage to elevated expectations, which the Bank of Russia calls a “pillar” of its interest-rate decisions. Until those expectations stabilize at a lower level, Nabiullina needs to tread cautiously about lowering interest rates, even if business bemoans the high cost of credit.

    ...

    Rate cuts will continue, but “fairly gradually,” which in the absence of unfavorable outside factors will bring the benchmark from its current level of 8.25 percent to 6 percent to 7 percent in one or two years, according to Nabiullina. At the same time, she warned on Wednesday against moving too quickly to reach an “ equilibrium level” for rates.

    http://russiafeed.com/price-inflation-russia-hits-low-russian-consumers-still-pessimistic/

    20% Increase in Non-Oil Tax Revenue Thanks to Economic Recovery

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    Post  PapaDragon on Sat Nov 25, 2017 2:16 pm

    '
    Russia Doubles Down on Gold - Announces Continuing Purchases


    http://russia-insider.com/en/russia-doubles-down-gold-announces-continuing-purchases/ri21702
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    Post  kvs on Sat Nov 25, 2017 4:15 pm

    GunshipDemocracy wrote:
    kvs wrote:
    Cyberspec wrote:It means that since 2007 instead of reforms, they've been doubling down

    The word "reform" has become a dirty smear like "democracy" (aka dermocracy and demokrads).     It is code
    for monetarist ass rape.    Russia needs only the following reforms:

    1) The Fed-like CBR should be replaced with an institution on a tighter leash.   Nabiullina's insane interest rate policy is
    suppressing Russian GDP growth (and hence development).

    2) Elimination of bureaucracy.   Under Yeltsin (the "palpable humanitarian") it mushroomed to twice the size it was under
    communism.  Stop and let that one sink in.    There need to draconian reductions (at least 50%) in the size of this
    parasite swamp.   The remaining parasites need to be chained to the wall.   Right now they are basically writing the
    de facto laws of how to deal with cases.   You can see all sorts of Kafkaeqsue excesses that serve no purpose other
    than to foster dissent and slow Russia's revival.  

    Both (1) and (2) have contributed directly to suppression of small and medium size business development in Russia.

    Well to me the reason why Putin is not changing much about current situation is either he cannot do anything or...he is working of something much bigger.
    Like upgrading state apparatus with new people (All-Russia People's Front ?).

    About Putins apporach we can both speculate but lower rates is an opportunity and rsk... apparently risk is higher tnan opportunity.

    Under Nabiullina's CBR policy the only risk is from excessive rates. Nobody is calling for zero rates. But rates approaching three times
    the CPI are absurd and heavily damage Russia's economy. Setting the prime rate to 4% would be the proper policy.
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    Post  Austin on Sun Nov 26, 2017 6:33 pm

    I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
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    Post  Austin on Sun Nov 26, 2017 6:34 pm

    How much of Russian Forex Exchange is held abroad , I believe Physical Gold is in Russia.

    Where do they keep US T Bills , Euro Bills and other forex in foreign banks ?
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    Post  Svyatoslavich on Mon Nov 27, 2017 1:14 am

    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.
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    Post  kvs on Mon Nov 27, 2017 1:21 am

    Svyatoslavich wrote:
    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.

    I think this is just poor translation. The only foreign exposure is in US treasuries. The US would not really be able to "cancel" those in Russia's possession.
    Please someone correct me, but US treasuries are like bearer bonds and Russia could unload its US paper to 3rd parties and lose almost nothing.

    If Russian oligarchs and whatnot choose to keep their money in NATO banks, well, then, the Russian government cannot guarantee the safety of these
    assets.
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    Post  franco on Mon Nov 27, 2017 2:44 am

    TASS-FACTBOX. November 24, 2017. The Russian State Duma (lower house of parliament) has passed the bill on federal budget for 2018 and the planned period of 2019-2020 in its third reading. According to the bill, Russia’s budget revenues will amount to 15.26 trillion rubles ($256 bln) in 2018, 15.55 trillion rubles ($260 bln) in 2019, and 16.3 trillion rubles ($273 bln) in 2020. Expenditures are planned at 16.53 trillion rubles ($277 bln) in 2018, 16.4 trillion rubles ($275 bln) in 2019, and 17.15 trillion rubles ($287 bln) in 2020. Federal budget deficit will total 1.3 trillion rubles ($21.8 bln) in 2018, 819.1 bln rubles ($13.7 bln) in 2019, and 870 bln rubles ($14.5 bln) in 2020.

    The bill also envisions a transition to the new budget rule. Starting 2018, additional oil and gas revenues received from the price of Urals crude oil above the base of $40 per barrel in 2017 prices, will be allocated on reserves instead of expenditures. The base price will be adjusted by 2% annually starting 2018.

    Three-year budget

    In 2006, Russian President Vladimir Putin proposed to adopt budget for three years. In July 2007, Putin signed the federal law "On the federal budget for 2008 and for the planning period of 2009 and 2010". This was the first financial document in the history of the country designed for a medium-term perspective for three years. October 1, 2015, Russian President Vladimir Putin signed a law on returning to one-year budget planning. This decision was made to avoid mistakes in distribution of public finances due to fluctuations in currency rates and oil prices. However, the next budge, for 2017 and the planning period 2018-2019 has again become a three-year budget.
    Order of approval

    The Russian government drafts the federal budget, at least ten months before the beginning of the next fiscal year and is based on the Budget Address of the Russian President (since 2014 it is an integral part of the presidential address to the Federal Assembly), the forecast of socio-economic development and the main directions of the budget and tax policy for the next year.

    In accordance with the Budgetary Code, the government submits a draft federal budget to the State Duma before October 1 of the year. The State Duma considers the document in three readings.

    In the first reading, the deputies discuss its concept, the forecast of the social and economic development of the Russian Federation, including the projected volume of GDP and inflation that form the basis for the formation of the budget’s main characteristics, main directions of fiscal and tax policy. If the document is rejected in the first reading, it is transferred to the conciliation commission, which within ten days develops another version of the budget’s most important characteristics.

    In the second reading, the State Duma considers additions, in particular, establishing a list of revenue administrators and sources of financing for the budget deficit, distribution between the subjects of the Russian Federation and intergovernmental transfers, budgetary allocations, etc.

    In the third reading, the State Duma deputies approve budget expenditure structure for the next financial year and planning period. After the federal budget is adopted by the State Duma and approved by the Federation Council, it is signed by the Russian president.

    The law on budget is a very large document - a printed version of the law for 2017-2019 is 4,713 pages long.

    In addition to the federal budget, there is a consolidated budget - a set of a federal and consolidated budgets of the subjects of the Russian Federation except budgets of state and territorial non-budgetary fund.
    Budget for 2017

    The federal budget for 2017 and for the planning period 2018-2019 was adopted by the State Duma on December 9, 2016, approved by the Federation Council on December 14 and signed by the Russian President on December 19. Taking into account the amendments of July 1, 2017, budget revenues should amount to 14.72 trillion rubles ($252.55 bln), expenditures - 16.73 trillion rubles ($287 bln). According to the forecast, budget deficit will be about 2% of GDP.
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    Post  Austin on Mon Nov 27, 2017 6:12 am

    kvs wrote:
    Svyatoslavich wrote:
    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.

    I think this is just poor translation. The only foreign exposure is in US treasuries. The US would not really be able to "cancel" those in Russia's possession.
    Please someone correct me, but US treasuries are like bearer bonds and Russia could unload its US paper to 3rd parties and lose almost nothing.

    If Russian oligarchs and whatnot choose to keep their money in NATO banks, well, then, the Russian government cannot guarantee the safety of these
    assets.

    What about EU treasury since Forex 40 % is EU T bills ?

    US has in past confiscated T Bills of Iran of the tune of $100 billion.

    Gold is Certainly in Russia but what about US , EU T bills plus small amount of IMF SDR ,UK Pound etc
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    Post  Austin on Mon Nov 27, 2017 7:08 am

    Svyatoslavich wrote:
    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.

    What redline does Russia have even trade with US to fight a trade war ?

    What idiots are these who keeps buying US T bills and then say arrest of these would be equal to financial wars.

    What about the Comprehensive Sanctions of Energy , Military and other sectors by US is that not a Financial War according to Finance Minister but an Act of Love that Russia so cherishes ?

    What a bunch of bufoons we have in Finance Ministry and CBR they should reduce the exposure of US T bills to close to Zero by now and not keep buying these.

    Now I am convinced Putin is getting secrewed by his own people , They are cutting cost every where in budget and say we are sanction ready ! Increasing exposure to US T Bills and claim seziure will be act of Financial Terrorism , Why do they even buy it in first place .........They dont have a single person in Russia who would challenge that ?

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    Post  Project Canada on Mon Nov 27, 2017 10:47 am

    Austin wrote:
    Svyatoslavich wrote:
    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.

    What redline does Russia have even trade with US to fight a trade war ?

    What idiots are these who keeps buying US T bills and then say arrest of these would be equal to financial wars.

    What about the Comprehensive Sanctions of Energy , Military and other sectors by US is that not a Financial War according to Finance Minister but an Act of Love that Russia so cherishes ?

    What a bunch of bufoons we have in Finance Ministry and CBR they should reduce the exposure of US T bills to close to Zero by now and not keep buying these.

    Now I am convinced Putin is getting secrewed by his own people , They are cutting cost every where in budget and say we are sanction ready ! Increasing exposure to US T Bills and claim seziure will be act of Financial Terrorism , Why do they even buy it in first place .........They dont have a single person in Russia who would challenge that ?


    Maybe old age has caused Putin to become soft, if ever he runs for President for the last time, I surely hope his next heir will have double his resolve during his younger years in his leadership, preferably someone from the siloviki/ intelligence establishment.
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    Post  Cyberspec on Mon Nov 27, 2017 9:38 pm

    Or maybe he knows a thing or two more than us on the forum
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    Post  kvs on Tue Nov 28, 2017 2:15 am

    Austin wrote:
    kvs wrote:
    Svyatoslavich wrote:
    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.

    I think this is just poor translation.   The only foreign exposure is in US treasuries.    The US would not really be able to "cancel" those in Russia's possession.
    Please someone correct me, but US treasuries are like bearer bonds and Russia could unload its US paper to 3rd parties and lose almost nothing.  

    If Russian oligarchs and whatnot choose to keep their money in NATO banks, well, then, the Russian government cannot guarantee the safety of these
    assets.

    What about EU treasury since Forex 40 % is EU T bills ?

    US has in past confiscated T Bills of Iran of the tune of $100 billion.

    Gold is Certainly in Russia but what about US , EU T bills plus small amount of IMF SDR ,UK Pound etc

    I am going to have to ask for a reference regarding the $100 billion in "T bills". From what I recall, it was the freezing of various
    Iranian assets including property in the US and EU. Russia does not hold such assets in NATO. Oligarchs are not Russia.
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    Post  kvs on Tue Nov 28, 2017 2:16 am

    Cyberspec wrote:Or maybe he knows a thing or two more than us on the forum

    That's appeal to authority, a false argument.
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    Post  Austin on Tue Nov 28, 2017 6:30 am

    kvs wrote:
    Austin wrote:
    kvs wrote:
    Svyatoslavich wrote:
    Austin wrote:I am shocked Russia Finance Minister believes what he says

    http://tass.ru/ekonomika/4760077

    Finance Minister Anton Siluanov, in turn, added that he considers unlikely the arrest of Russia's gold and foreign exchange reserves abroad during the tightening of sanctions. "If our gold and currency exchanges are arrested, it's just financial terrorism, I think that certainly will not come to this." In fact, it will be a declaration of financial war, "the minister said.
    It may be a warning also, putting a red line and saying "don't cross it".
    Also, does Russia keeps gold reserves abroad? I didn't know it.

    I think this is just poor translation.   The only foreign exposure is in US treasuries.    The US would not really be able to "cancel" those in Russia's possession.
    Please someone correct me, but US treasuries are like bearer bonds and Russia could unload its US paper to 3rd parties and lose almost nothing.  

    If Russian oligarchs and whatnot choose to keep their money in NATO banks, well, then, the Russian government cannot guarantee the safety of these
    assets.

    What about EU treasury since Forex 40 % is EU T bills ?

    US has in past confiscated T Bills of Iran of the tune of $100 billion.

    Gold is Certainly in Russia but what about US , EU T bills plus small amount of IMF SDR ,UK Pound etc

    I am going to have to ask for a reference regarding the $100 billion in "T bills". From what I recall, it was the freezing of various
    Iranian assets including property in the US and EU. Russia does not hold such assets in NATO. Oligarchs are not Russia.

    https://www.al-monitor.com/pulse/originals/2016/04/ahmadinejad-us-supreme-court-iran-terror-2-billion.html

    "Under the previous administration, it was decided that a part of the Central Bank's resources be managed in Europe," said Vice President Eshag Jahangiri on April 23 regarding the US Supreme Court ruling. "Therefore, with complete poor planning, $2 billion of American bonds were purchased and kept in a European bank, so the Americans were able to easily block the bonds and then confiscate it."


    What makes you think US can simply refuse to honour its commitment to T bills and will simply refuse to redeem it for Russia ?

    They dont have to confiscate it they can just refuse to honour it and Russia CBR wont be able to do squat about it. What Russia holds is penuts for US and they can easily afford to say no with no consquences to US Bond Market.
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    Austin

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    Post  Austin on Tue Nov 28, 2017 5:41 pm

    The Ministry of Finance disclosed the amount of defense spending for the next three years

    For these purposes it is planned to spend almost 6.8 trillion rubles

    http://www.interfax.ru/business/589342


    Moscow. November 28. INTERFAX.RU - Nearly 6.8 trillion rubles in the next three years will be allocated from the budget for spending in the field of national defense, said Deputy Finance Minister Leonid Gornin.

    "The project of the federal budget in 2018-2020 cost in the field of national defense and national security, law enforcement activities recorded in the amount of 2 trillion 271 billion rubles, in 2019 - 2 trillion 228 billion rubles and 2020 - 2 trillion 295 billion rubles," - said Gornin during a meeting of the Federation Council Committee on Defense and Security.

    "The current maintenance of the Armed Forces of the Russian Federation, including food, transportation, infrastructure maintenance in 2018, we adjusted to the amount of more than 62 billion rubles, the implementation by the Armed Forces of the Russian Federation of certain measures in 2018 to the amount of more than 14 billion rubles, to pay for utilities and the provision of fuel and fuel, as well as food in 2018, was additionally provided for 23 billion rubles, "Gornin said. The Federation Council Committee on Defense and Security approved the draft budget.

    The State Duma last week adopted in the third and final reading the law on the federal budget for 2018-2020. State Duma Speaker Vyacheslav Volodin, commenting on the adoption of the budget in the third reading, said that its main indicator, "where we see development, is the growth of the gross domestic product."

    The budget revenues in 2018 will be 15.258 trillion rubles, expenditures - 16.529 trillion rubles, deficit - 1.3% of GDP. Revenues in 2019 are planned in the amount of 15.555 trillion rubles, expenses - 16.374 trillion rubles, deficit - 0.8% of GDP. In 2020, revenues are laid at 16.285 trillion rubles, expenditures - 17.155 trillion rubles, a deficit - 0.8% of GDP.

    According to the document, the base oil and gas revenues in 2018 will amount to 5.480 trillion rubles, in 2019 - 5.247 trillion rubles, in 2020 - 5.440 trillion rubles. In this case, non-oil revenues in 2018 will be equal to 9.779 trillion rubles, in 2019 - 10.307 trillion rubles, in 2020 - 10.845 trillion rubles.
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    Post  Austin on Tue Nov 28, 2017 7:29 pm

    The Central Bank was told about the possible effect of US sanctions against the state debt of Russia
    RIA NewsNovember 28, 19:11

    https://www.vedomosti.ru/economics/news/2017/11/28/743392-tsb-rasskazali

    US sanctions on Russia's national debt can have only a short-term effect. The Central Bank of Russia, if necessary, is ready to use its instruments to reduce the negative effect. This was reported by the first deputy chairman of the regulator Ksenia Yudaeva.
    "There may be some volatility," she noted. However, in Russia, "the heterogeneous activity of foreigners on the market, some fluctuations and suspensions occur all the time, it does not always cause any serious outbursts," Yudaeva explained. According to her, there has never been an intervention in the situation of the Central Bank.
    As noted by Yudaeva, as of October 1 this year the share of non-residents in the OFZ market was a record 33.2%.

    In this case, according to Bloomberg , referring to experts, the cost of borrowing will grow by 50-150 basis points, if the US authorities expand sanctions. Moscow downplayed the importance of expanding sanctions, believing that domestic demand compensates for the outflow of foreign investors, which currently account for at least 30% of the OFZ investments, the agency said.

    "New sanctions against Russia can force foreign investors to completely abandon buying new government bonds, which will lead to a strong increase in the cost of borrowing for Russia," said Vladimir Miklashevsky, senior economist at Danske Bank A / S in Helsinki.

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