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

Unemployment left for the fall // Ministry of Economy shared a slight concern about future employment

Economics Minister Maksim Reshetnikov expects Russia’s record low unemployment rate to rise slightly in the fall, as evidenced by rising rates of underemployment at enterprises, he said. So far, according to surveys by the Gaidar Institute, the proportion of workers who have been transferred to a shorter working day, sent on vacation or are in … Read more

“Restarting the investment cycle is a task facing the entire economic bloc” // Deputy Minister of Economy Murat Kerefov on the development of investment mechanisms

The government’s plans to restart the investment cycle in the new economic reality and the development of a key mechanism in this area – agreements on the protection and promotion of capital investments (SZPK) – in an interview with Kommersant, the new curator of the SZPK, Deputy Minister of Economy Murat Kerefov spoke. .

The head of the Ministry of Economy spoke about worrying “certain signs” in the labor market

Despite record low unemployment rates, there are some concerns about the labor market in Russia, Economics Minister Maxim Reshetnikov said. At the same time, according to him, the negative scenario in the labor market did not materialize, but it is impossible to “calm down”. At the same time, you and I are well aware that … Read more

Operational downturn // Economy accelerates contraction amid mounting uncertainty

The contraction of the Russian economy is accelerating. According to the Ministry of Economy, in June, GDP contracted by 4.9% in annual terms after a decline of 4.3% in May and 2.8% in April 2022, and in the first half of the year the economy shrank by 0.5%. The output of goods and services by … Read more

Ministry of Economy: Russia’s GDP in June decreased by 4.9% in annual terms

The decline in GDP in June 2022 was 4.9% year-on-year after a 4.3% decline in May. This is reported in the review “On the current state of the Russian economy”, published by the Ministry of Economy. “According to the Ministry of Economic Development of Russia, in June, GDP decreased by 4.9% year-on-year, in general for … Read more

FAS took up arms against speculators // The service asks to simplify its price control of the markets

The FAS proposed to tighten control over prices – in cases of “unreasonable” price growth, the service asks for the authority until 2024 to hold businesses accountable for collusion under a simplified scheme. De facto, this will help the state to quickly intervene in price regulation and smooth out peaks in the face of sanctions … Read more