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Events
Databanks
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Argentina databank Jun 13 -
Brazil Economics databank Jun 16
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Central America databank May 28
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Chile databank May 27
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China databank Mar 21
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Colombia databank Jun 5
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Dominican Republic databank Jun 18
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Ecuador databank Jun 20
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Gulf Countries databank Jun 20
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Hungary databank Jun 23
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India databank Jun 2
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Mexico databank May 12
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Panama databank May 13
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Peru databank Jun 12
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Philippines databank Jun 6
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Poland databank Apr 29
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Russia Economics databank Jun 16
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South Africa databank Jun 9
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank Jun 4
NEWS FLASH
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COUNTRY INSIGHTS
Current account in surplus in 3Q, but it is artificially small
RUSSIA ECONOMICS · In Brief · 09 Oct 2020
The Central bank reported that according to its preliminary estimate, the current account surplus reached $24.1 bn in 9m20, while in 3Q20, it was $2.5 bn. As according to the revised numbers, the current account balance temporarily turned into a deficit in 2Q20 (which was -0.5 bn), the ruble sinc...
OFZ issuance: Finance Ministry fulfilled 17.3% of quarterly plan in one auction day
RUSSIA ECONOMICS · In Brief · 07 Oct 2020
On Wednesday the Russian Finance Ministry placed a record high amount of OFZ. During two auctions it managed to place a 10-year floater (linked to RUONIA rate) worth to R316 bln and a 5-year fixed-rate paper worth to R30 bln. In such a way the Government covered more than 17% of the quarterly pla...
Russia’s political/pandemic update: The light is dim, the tunnel looks longer
RUSSIA ECONOMICS · Report · 05 Oct 2020
It looks as though earlier hopes to contain the spread of the coronavirus within a relatively short time frame evaporated in September. Newly registered cases in Europe (including Russia) started to rise much faster, and in the Americas they remained high, as well. The epidemiological situation i...
Russia and the West: Recent developments seal the split; economy to adjust
RUSSIA ECONOMICS · Report · 23 Sep 2020
The Russian ruble remained under pressure for some time, aggravated recently by fears of the COVID-19 pandemic's regaining momentum (both in Russia and Western Europe) and potential new sanctions against Russia. It looks as though sanctions are mounting on Russia permanently, so the pressure on t...
The Russian economy in August: slow recovery continues
RUSSIA ECONOMICS · In Brief · 18 Sep 2020
Rosstat reported that in August, the economic recovery continued across the board, albeit slowly. Most of the indicators looked better y-o-y than in July, especially taking into account that this year August had fewer working days than a year ago. Some previous data have been revised up slightly,...
Russian industry: gradual recovery to continue
RUSSIA ECONOMICS · In Brief · 16 Sep 2020
According to Rosstat, in August the Russian industry continued its gradual m-o-m recovery, therefore moving toward relatively moderate contraction of around 5.5% in 2020 as a whole. Even in the case of mining, where the oil production is still under the pressure of the OPEC+ deal, there was over ...
Budget and growth: Russia’s 2020 budget spending depends on its ability to borrow
RUSSIA ECONOMICS · Report · 14 Sep 2020
Rosstat reported that Russia's GDP was down by 8% in 2Q20 and provided the GDP sectoral breakdown by production. A month ago, when Rosstat announced its flash estimate of 2Q20 GDP, the decline was a bit deeper – 8.5%. Ongoing upward revisions are generally in line with our long-standing view that...
The CBR plans to publish the anticipated long-term trajectory of its key rate
RUSSIA ECONOMICS · In Brief · 10 Sep 2020
Today CBR published the draft of the “Key directions of the monetary policy in 2021-23”. In addition to updating macroeconomic projections and introducing various scenarios of the development of the Russian economy, the regulator indicated that it is almost ready to start forecasting and publishi...
No deflation in August, by year-end inflation is likely to exceed 4%
RUSSIA ECONOMICS · In Brief · 04 Sep 2020
Rosstat reported that m-o-m inflation was at 0% in August, even though some deflation due to seasonal factors was earlier expected. Even though prices of fruits and vegetables fell, so that food prices in total were down by 0.9% m-o-m, and by 1.0% y-o-y, it was not enough to offset increased pric...
Russia’s political and pandemic update: Russia’s alienation to deepen amid Navalny saga
RUSSIA ECONOMICS · Report · 04 Sep 2020
As the number of confirmed COVID-19 cases in Russia exceeded 1 mln people, while Russian economic performance has improved in recent months, Russians became a bit more optimistic in August, even though the daily numbers of newly infected people stopped declining in mid-August and fluctuated below...
Russian financial markets: retail investors looking for foreign assets
RUSSIA ECONOMICS · Report · 28 Aug 2020
The rapid decrease of interest rates in both Russia and the US in the first half of the year fueled the inflow of private investors’ money from banking deposits into the financial markets. As a result the aggregate amount of household funds in brokerage accounts and in asset management companies ...
Russian economy and finances: economy gradually improves, markets to stabilize
RUSSIA ECONOMICS · Report · 24 Aug 2020
As several sectors of the economy saw relative improvements in July, such as the strong m-o-m rebound in retail sales that continued to raise consumption following a deep fall reported in April, and better performance in manufacturing, the Economics Ministry estimated that Russia’s GDP contracted...
Economy continued to recover in July, performance differed across sectors
RUSSIA ECONOMICS · In Brief · 20 Aug 2020
Rosstat released preliminary statistics on major economic indicators for July, which confirm that the Russian economy is on a recovery track, even though this recovery is not uniform across sectors.Agriculture was up 4.0% y-o-y last month, which brought the 7m20 tally to 3.3% versus 3.0% in 1H20....
Finance Ministry cancels OFZ placement this week
RUSSIA ECONOMICS · In Brief · 18 Aug 2020 · 1 response
The Russian Ministry of Finance authorities decided not to conduct OFZ primary placement this week. To remind, last week the Finance Ministry failed to attract enough demand at reasonable yield and canceled the placement. This week the cancelation was made in advance. During the last three weeks ...
Russia's industrial performance looked encouraging in July amid some improvements in manufacturing
RUSSIA ECONOMICS · In Brief · 17 Aug 2020
In the aftermath of some break caused by the lockdown in April and May, the Russian industry performed reasonably well in July. Though, mining was still under pressure due to deep contraction in oil production stipulated by the OPEC+ deal. Rosstat reported that oil and gas extraction in July was ...