The oil price can fall to $30 per barrel over the next few years and can decrease further over a 20-year period, Alexei Kudrin, former finance minister and current head of the Center for Strategic Research, said. “After the oil price has fallen, the budget deficit will be 3.7% (of gross domestic product) this year…
Russia’s Finance Ministry and the Central Bank plan to present a draft of a new system of voluntary pension savings in the near future and the system may be launched from 2018, Minister Anton Siluanov said. Earlier, the government froze the accumulative part of pension savings for 2014 and 2015, and used 6% of citizens’…
As of September 22, Russian agrarians continued harvesting grains and pulses. Agrarians harvested grain crops throughout the general areas of 40.6 million ha (on the same date in 2015 – 36.6 million ha), or 86% of the planned areas (47.3 million ha). The produced volumes reached 107.5 million tons of grains, with the average yield…
Russia has filed an appeal against a decision of the World Trade Organization’s (WTO) arbiter panel on a suit by the E.U. against Russia’s prohibition of pork imports from the union, the Economic Development Ministry said. “On September 23, the Russian Federation filed an appeal against the WTO’s decision on a dispute “the Russian Federation…
Russian multi-industry holding Sistema has sold a 1.27% stake in MTS in the form of American depositary receipts (ADRs) for $100.4 million, and its total interest in the mobile operator decreased to 50.44%, the holding said in a statement. The stake of 12.7 million shares was sold by Sistema’s unit, Sistema Finance S.A., to a…
Czech Republic’s PPF Group NV and Staroak Limited plan to sell up to 26 million common shares, or 6% in the charter capital of the Russian precious metals producer Polymetal International via accelerated book building, Morgan Stanley, one of the possible organizers of the deal, said in a statement. The book building was to start…
On September 23, Russia zeroed down the export duties on wheat, the Minister of Agriculture of Russia Alexander Tkachev declared. According to the forecast of Tkachev, in the current year the grain exports will reach 35-40 million tons. At the same time, as of the morning of September 23, the officials still did not make…