Russia’s gross domestic product (GDP) may grow by 0.2% in 2017, by 0.9% in 2018 and by 1.2% in 2019, according to a baseline forecast by the Economic Development Ministry in the ministry’s adjusted 2017-2019 social and macroeconomic development forecast. In 2016, GDP contraction will slow down to 0.6%, the ministry said. The ministry based…
In January-August Belarus decreased the import of merchandise and services by 10.9% YoY to $18.978 billion, according to the latest statistics released by the National Bank. In January-August Belarus’ foreign trade totaled $38.1 billion, down by 12.7% YoY. Belarus’ exports amounted to $19.159 billion (down by 14.4%), with imports at $18.978 billion (down by 10.9%).…
There is a plan to transform the Belarusian Currency and Stock Exchange (BCSE) into a multifunctional financial institution, NBB First Vice Chairman Taras Nadolny said. The National Bank of Belarus plans to promote further development of the stock market and recommends Belarusian banks to be more active in entering the statutory capital of state-owned companies.…
Ukraine needs to lift the ban on export of timber and settle the issue of social payments to internally displaced persons in order to get the next tranche of macro-financial assistance to the tune of 600 million EUR from the EU, new head of the EU Delegation to Ukraine, Ambassador Hugues Mingarelli has said. The…
Russian Energy Minister Alexander Novak expects the international oil surplus to fall by about 1 million barrels per day (bpd) until the end of 2016, Novak reported. On September 27, the Organization of the Petroleum Exporting Countries agreed to cut output by between 200,000 and 700,000 barrels a day. The 14-nation oil-producing group controls over…
Russia’s consumer price inflation will amount to 5.4-5.5% in 2016, below the official forecast of 5.8%, Economic Development Minister Alexei Ulyukayev reported. “Our accumulated inflation now stands at 4.1% since the start of the year and 6.4% compared with the corresponding last year period”, he said. “It will be around 0.4% in each of the…
VTB Capital, an investment advisor on privatization of the government’s 25% stake in Russian shipping company Sovcomflot, has submitted a report to the Economic Development Ministry in which it said that the stake might be sold in 2017 in parts on the Moscow and New York stock exchanges, Minister Alexei Ulyukayev reported. “Sovcomflot (privatization) may…