The Government of the Russian Federation approved the draft three-year federal budget

In 2023, revenues of 26.13 trillion rubles are planned. Expenditures will amount to about 29 trillion rubles, and the budget deficit will be 2.9 trillion rubles, or 2% of GDP. According to Russian Prime Minister Mikhail Mishustin, such a budget deficit is likely to last all three years. The President of the Russian Federation did … Read more

Fitch Agency: Ukraine’s public debt will exceed 100% of GDP

Kyiv, August 18. The conflict in Ukraine could last until 2023, pushing the country’s public debt to over 100% of GDP. This is stated in the new forecast of the international rating agency Fitch. The agency’s analysts have upgraded Ukraine’s long-term default rating from RD (limited default. — Editor’s note) to CC (very high credit … Read more

Let’s eat our own // The Ministry of Economy expects stabilization from the budget, recession from GDP, and reduction from imports

The macro-parameters of scenario conditions for economic development developed by the Ministry of Economy are being discussed in the government. They were first created in the logic of the new version of the budget rules, which assume stable exports at just under $500 billion a year, the agency, in line with expectations of a two-year … Read more

Mishustin noted the steady growth of the construction industry and its significant contribution to GDP

MOSCOW, 14 Aug – Prime Minister of the Russian Federation Mikhail Mishustin congratulated construction industry workers on their professional holiday and noted the steady growth of the industry and its significant contribution to Russia’s GDP, telegram published on the cabinet website. “Today, the industry is demonstrating steady growth, making a significant contribution to the country’s … Read more

The Central Bank predicted a decline in GDP until mid-2023

The Central Bank in the published report on monetary policy (pdf.) revised upwards the forecasts for the decline in GDP, inflation and other macroeconomic indicators. According to new estimates, by the end of 2022, GDP will fall by 4.5-6.5%. The decline will last until mid-2023, and then move to moderate growth. Despite the expected quarterly … Read more

GDP in the eurozone in the second quarter grew by 4% in annual terms

Eurozone GDP growth in the second quarter amounted to 4% in annual terms, 0.7% – in quarterly terms. Inflation in July accelerated to 8.9% after 8.6% in June, which became a historical maximum. As follows from the preliminary data of the Statistical Office of the European Union, in annual terms, the volume of GDP in … Read more

US GDP declined for the second quarter in a row // Monitoring of the world economy

US GDP in the second quarter fell by 0.9% year on year, the US Department of Commerce Bureau of Economic Analysis reported yesterday. This is worse than the forecasts of most analysts who expected at least a minimal increase. Let’s be clear: the US indicator shows how much the size of the economy would shrink … Read more