The rouble depreciation in H2 2014 and in 2015 led to a substantial rise of prices in the Russian economy amid sanctions. Those and related changes (e.g., foreign trade shocks and related updates of importers' strategies) also influenced price sensitivity (rigidity) to rouble exchange rate...

In Q1 2017, the current account surplus increased significantly due to rising exports alongside a slower growth in imports. Growth of the positive current account balance was the main factor behind the ruble's strengthening. At the same time, net capital outflow from the private sector also...

The corporate segment of Russia's loan market is experiencing stagnation. The volumes of new loans are declining relative to the size of the economy, while the amount of debt has been demonstrating practically no increase. Interest rates are continuing to follow their downward trend. The quality...

The monetary policy priority for the coming years is to maintain the inflation rate at 4%, according to the Draft Guidelines for the Single State Monetary Policy in 2018 and for 2019 and 2020. Monetary authorities will continue to pursue a moderately tight monetary policy, but the objective of...

Some of Russia's big private banks were faced with the risk of banking license revocation in August–September 2017. The financial resolution of Bank Otkritie and of Binbank was implemented using a new mechanism – The Fund for Banking Sector Consolidation

The ongoing revival of Russia's positive economic growth rates in 2017 was anticipated by an overwhelming majority of experts. A certain correction was reasonably expected following the 2015/16 decline in GDP and in investment and a drastic fall of living standards for the first time in 15...

In H1 2017, the share of households' outstanding HPUS debt decreased as compared to the relevant indices of the last decade. Among Russian territories, the North Caucasian regions have the highest share of HPUS debt. High risks of non-payment of HPUS and electricity bills are specific to...

Material changes in the Russian tax administration have boosted tax revenues on the back of improved tax collection performance, without raising the tax burden. Tax service informatization allows for automatic detection of fly-by-night companies, thereby contributing to the formation of a fair...

Russia's current account balance continued to contract in Q3 2017 on the back of stabilizing exports amid rising imports. A financial account surplus was led by foreign capital inflow (FDI) into other sectors, as well as by nonresident purchases of Federal Loan Obligations (OFZs). A double BOP...

The social well-being of the Russian middle class in terms of the dynamics of its financial standing and opportunities of successful self-actualization has somewhat improved. According to representatives of the middle class, the prospects of self-actualization depend primarily on a high level of...