“Avtograzhdanka” tariffs are changed // Central Bank has published proposals to change prices for OSAGO

The Bank of Russia has published its proposals to change the tariffs for compulsory motor third party liability insurance. It is assumed that “car insurance” will become cheaper for accurate and experienced drivers – but will rise in price for those who get into accidents. Regional coefficients used to calculate the final price of the policy will decrease for drivers in Moscow, St. Petersburg and Kazan; will increase – for Simferopol, Sevastopol, Nazran and Magadan. For most motorists, tariffs will eventually come down, experts say. …

The IMF called the policy of Russia during the pandemic correct

The policy of the Russian authorities during the pandemic made it possible to avoid recessions and ensure a quick economic recovery, said the head of the European department of the International Monetary Fund Alfred Kammer. He noted that for further growth, Russia needs to focus on structural reforms of the economy. “Russia faced a relatively small recession in 2020, and recovered very strongly in 2021. Also, Russia used the right mix of measures during the crisis, which supported the recovery. Fiscal policy supported (growth), as did monetary policy, which led to the strong recovery that is now taking place, “said Mr. Kammer (quoted by RIA Novosti). At the same time, according to him, now it is important for Russia to focus on structural reforms of the economy in order to increase productivity and increase growth, and this will remain in the future the main Achilles’ heel of the Russian economy. ”Previously, the IMF raised its estimate of the growth of the Russian economy in 2021 from 4.4 % expected….

Annual inflation in Russia reached 7.8%

The weekly increase in inflation in Russia from October 12 to 18 increased from 0.22% to 0.26%. Annual inflation was 7.8%. The last time it exceeded 7.7% in February 2016 (8.1%). This is evidenced by Rosstat data. Thus, inflation has already surpassed the Central Bank’s forecast for the entire 2021, which ranged from 5.7% to 6.2%. Since the beginning of the year, consumer prices have increased by 5.98%. For the week from 12 to 18 October, prices for chicken eggs increased by 2.8%, buckwheat – by 1.0%. Prices for chicken meat in the country on average increased by 1.5%. Vegetables and fruits also increased significantly – by only 2.3%. A noticeable increase is observed in prices for cucumbers – 14.3%, for tomatoes – 9.9%, for potatoes – 3.6%. Apples, onions and carrots fell in price. Among non-food products, domestic cars rose in price over the week – by 1.1%, shampoos – by 0.8%. The Kremlin explained the rise in inflation forecast “trends in international markets.” Today Russian President Vladimir Putin instructed the government to develop a set of measures to support manufacturers….

What measures to support business due to covid restrictions Putin approved

Today, Russian President Vladimir Putin at a meeting with the Cabinet of Ministers supported the proposal of Deputy Prime Minister Tatyana Golikova to introduce non-working days in the country from October 30 to November 7 due to the worsening epidemiological situation. Mr Putin also approved measures proposed by Deputy Prime Minister Andrei Belousov to support industries that will suffer from the introduction of non-working days. …

Oh mine gas // Russian oilmen want to make money on mining

The Ministry of Industry and Trade, the Ministry of Digital Industry and the Central Bank are discussing a project of Russian oil companies for the production of cryptocurrencies in their fields. The enterprises proposed to use associated petroleum gas (APG) for these purposes, with the help of which electricity will be generated to supply nearby data processing centers (DPC) required for mining. The project may be of interest to foreign investors, primarily from China, where mining is prohibited, experts say. In Russia, however, the law regulating the procedure for the circulation of digital currencies has not yet been adopted. …