The international rating agency S&P has approved a long-term rating of Russia for liabilities in foreign currency at BBB- with a stable outlook.
The unemployment rate in Russian regions at the end of Q2 2020 increased by an average of 30% compared to the same period last year, writes Kommersant, citing Rosstat.
The share of unprofitable organizations in the Russian Federation in January-May 2020 increased by 3.8 pp compared to the same period last year and amounted to 36%, Rosstat reports.
Inflation in Russia in the period from June 30 to July 6 jumped to 0.3% after zero value reached a week earlier, according to Rosstat data.
Rosstat published the full structure of all consumer income and expenses for Q2 2020.
The costs of manufacturers are growing, but the business does not always have the opportunity to shift them to consumers.
The Bank of Russia announced a key rate cut by one percentage point at once – up to 4.5%. This is a historical minimum, follows from the data of the regulator.
The collapse of the retail trade of the Russian Federation turned out to be worse than forecasts and the fall in consumer demand in a similar situation in China or the United States.
Russian investors faced a great risk of investing in domestic development projects, as they can become drowned investments.
Chamber of Commerce and Industry (CCI) asks the Ministry of Finance to abolish import customs duties on food, industrial equipment, ingredients and packaging materials, which have no analogues in the Russian Federation.
Inflation in the Russian Federation in May amounted to 0.3% against 0.8% a month earlier, having returned to the level of February, in annual terms – it slowed down to 3% from April 3.1%, follows from the message of the Federal State Statistics Service.
Over the week of May 20, investors took away $210 million from funds targeting Russian assets and bonds (including funds focused not only on the Russian Federation), according to Emerging Portfolio Fund Research (EPFR), which tracks the inflow and outflow of funds into investment funds and distribution of funds.
The IMF predicts a fall in Russia's GDP in 2020 by 5.5%; the world economy will decline by 3%.
The Bank of Russia may use the key rate mechanism if the situation in the financial and commodity markets does not stabilize in the near future, experts interviewed by TASS believe.
Imported products may rise in price over time due to the situation on the world markets, said Minister of Industry and Trade Denis Manturov. Although in general the Ministry of Industry and Trade Russia has not yet recorded a serious increase in food prices.
The Ministry of Economic Development predicts inflation in March at the level of 0.3-0.4%.
A major role in this was played not only by coronavirus, but also by problems in the capital market.
A global recession has begun because of declining business activity, 31 out of 41 economists surveyed by Reuters said.
GDP began to fall in the US, the eurozone and Japan amid outflows from emerging markets. Economists at the Institute of International Finance (IIF) sharply lowered their forecast for global economic growth in 2020 to 0.4% due to a shock in world markets.
The Central Bank of the Russian Federation, following a meeting of the board of directors on Friday, March 20, decided to maintain the key rate at 6%.
The Bank of Russia may use the key rate mechanism if the situation in the financial and commodity markets does not stabilize in the near future, experts interviewed by TASS believe.
