The net migration of the Russian population in January-February 2021 remained virtually unchanged compared to the same period last year, however was able to make up for only 14.6% of the losses from natural population decline. The number of migrant workers in Russia decreased by more than a...

Once the Bank of Russia lifted regulatory easing related to the pandemic, the quality of corporate loan portfolios of Russian banks did not deteriorate: the average level of past due debt remains stable and at a low level; the growth rate of corporate lending corresponds to the 2020 values; the...

At the period-end of January-March 2021, the federal budget surplus was less than in the pre-crisis Q1 2020. After 2020, the budget system recorded an increase in public debt servicing costs driven by a large-scale borrowing and the accumulation of losses by enterprises, which carry forward will...

One of the main factors behind the reduction in oil supply and, consequently, theincrease in oil prices in Q1 2021 was the voluntary decision of Saudi Arabia underthe OPEC+ agreement to further reduce its production by 1 mbpd. This fact resultedin a record overall conformity with the original...

In Q1 2021, the revenues of the regions’ consolidated budgets went up compared to Q1 2020. The growth was ensured by the federal budget fiscal transfers and an increase in the own tax and non-tax revenues of regional and local budgets. According to the results of H1 2021, we can expect...

In Q1 2021, Russia’s trade surplus reduced by almost one third compared to Q1 2020 due to growth in the total value of imports. Net capital outflows from the private sector decreased compared to the same period last year. This was mainly due to the growth of foreign banking assets and other...