Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond
Russia's economy grew 3.4 percent in 2012, down from 4.3 percent in 2011. The economy of Russia slowed in the second half of the year due to weak net exports, negative base effects, and destocking at the end of the year. More than four years a...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/01/17389712/russian-economic-report-recovery-beyond http://hdl.handle.net/10986/16565 |
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okr-10986-16565 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ACCOUNTING STANDARDS ADMINISTRATIVE BURDEN ADMINISTRATIVE PROCEDURES ADVANCED ECONOMIES ANNUAL GROWTH ARREARS AUCTION AVERAGE OIL PRICE BALANCE OF PAYMENT BALANCE OF PAYMENTS BANK DEPOSITS BANK LENDING BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BASIS POINTS BORROWING CAPACITY BRIBE BRIBES BUFFERS BUSINESS CONFIDENCE CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL OUTFLOWS CDS CENTRAL BANK COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES COMPETITIVENESS COMPOSITION OF GOVERNMENT DEBT CONSOLIDATION CONSUMER LENDING CONSUMPTION GROWTH CORE INFLATION CORRUPTION CPI CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT EXPANSION CREDIT GROWTH CREDIT QUALITY CURRENCY CURRENCY SWAP CURRENCY SWAPS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT SURPLUS DEBT REPAYMENTS DEFICITS DEMAND FOR CREDIT DEMOGRAPHIC TRANSITION DEMOGRAPHICS DEPOSIT DEVELOPING COUNTRIES DISPOSABLE INCOME DIVERSIFICATION ECONOMIC ACTIVITY ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC SLOWDOWN EMERGING ECONOMIES EMERGING MARKETS ENTREPRENEURS EXCHANGE RATE EXCHANGE RATE FLEXIBILITY EXCHANGE RATE POLICIES EXPENDITURE EXPENDITURES EXPORT VOLUMES EXTERNAL DEBT EXTERNAL DEMAND FEDERAL BUDGET FEDERAL BUDGET DEFICIT FINANCES FINANCIAL ACCOUNT FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SERVICES FISCAL BALANCE FISCAL BALANCES FISCAL DEFICIT FISCAL POLICY FIXED CAPITAL FIXED CAPITAL INVESTMENT FIXED INVESTMENT FLEXIBLE EXCHANGE RATE FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FOREIGN EXCHANGE RESERVES FOREIGN RESERVES FORESTRY FREEDOM OF INFORMATION GENDER GLOBAL BUSINESS GLOBAL DEMAND GLOBAL ECONOMY GLOBAL MARKET GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT POLICIES GOVERNMENT SPENDING GROUP LENDING GROWTH RATE GROWTH RATES HIGH INFLATION HIGH UNEMPLOYMENT HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOME HOUSEHOLDS IMPORT IMPORT GROWTH IMPORTS INCOME GROWTH INCOME LEVELS INFLATION INFLATION EXPECTATIONS INFLATION TARGETING INFLATIONARY EXPECTATIONS INTEREST RATES INTERNATIONAL BORROWINGS INTERNATIONAL STANDARDS INVENTORIES INVESTING INVESTMENT CLIMATE INVESTMENT INCOME INVESTMENT SPENDING LABOR FORCE LABOR MARKET LABOR MARKETS LABOR PRODUCTIVITY LIQUIDITY LOAN MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET CONDITIONS MARKET DEVELOPMENTS MARKET PARTICIPANTS MARKET RISK MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY SUPPLY MORTGAGE MORTGAGE DEBT MORTGAGE LENDING NATIONAL SECURITY NATURAL RESOURCES NON-PERFORMING LOANS NONPERFORMING LOANS OIL OIL MARKET OIL PRICE OIL PRICES OIL REVENUES OPEC OUTPUT GAP PENSION PENSION FUND PENSIONS POLICY MAKERS POPULATION GROWTH PORTFOLIO POVERTY REDUCTION PRICE INCREASES PRICE STABILITY PRICE VOLATILITY PRIVATE BANKS PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SAVINGS PRIVATIZATION PRODUCERS PRODUCTION CAPACITY PRODUCTIVITY GROWTH PUBLIC BORROWING PUBLIC DEBT PUBLIC FUNDS PUBLIC PARTICIPATION PUBLIC SPENDING REAL ESTATE REAL WAGE GROWTH REAL WAGES RECEIPTS RECESSION RED TAPE REGULATORY BARRIER REPO REPO RATE RESERVE RESERVE FUND RESERVE FUNDS RESERVES RETURN RETURNS RISK PERCEPTION SALES REVENUES SAVINGS SHARE OF CREDITS SLOWDOWN SOVEREIGN BONDS SOVEREIGN DEBT STOCK MARKET STOCK MARKET INDEX STOCKS STRUCTURAL REFORMS SUSTAINABLE GROWTH SWAP SWAPS TARGET RANGE TAX TAX COLLECTION TAX RATES TOTAL DEBT TRADE BALANCE TRADING TRANSACTION TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNION WAGES WORLD ECONOMY |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS ADMINISTRATIVE BURDEN ADMINISTRATIVE PROCEDURES ADVANCED ECONOMIES ANNUAL GROWTH ARREARS AUCTION AVERAGE OIL PRICE BALANCE OF PAYMENT BALANCE OF PAYMENTS BANK DEPOSITS BANK LENDING BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BASIS POINTS BORROWING CAPACITY BRIBE BRIBES BUFFERS BUSINESS CONFIDENCE CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL OUTFLOWS CDS CENTRAL BANK COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES COMPETITIVENESS COMPOSITION OF GOVERNMENT DEBT CONSOLIDATION CONSUMER LENDING CONSUMPTION GROWTH CORE INFLATION CORRUPTION CPI CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT EXPANSION CREDIT GROWTH CREDIT QUALITY CURRENCY CURRENCY SWAP CURRENCY SWAPS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT SURPLUS DEBT REPAYMENTS DEFICITS DEMAND FOR CREDIT DEMOGRAPHIC TRANSITION DEMOGRAPHICS DEPOSIT DEVELOPING COUNTRIES DISPOSABLE INCOME DIVERSIFICATION ECONOMIC ACTIVITY ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC SLOWDOWN EMERGING ECONOMIES EMERGING MARKETS ENTREPRENEURS EXCHANGE RATE EXCHANGE RATE FLEXIBILITY EXCHANGE RATE POLICIES EXPENDITURE EXPENDITURES EXPORT VOLUMES EXTERNAL DEBT EXTERNAL DEMAND FEDERAL BUDGET FEDERAL BUDGET DEFICIT FINANCES FINANCIAL ACCOUNT FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SERVICES FISCAL BALANCE FISCAL BALANCES FISCAL DEFICIT FISCAL POLICY FIXED CAPITAL FIXED CAPITAL INVESTMENT FIXED INVESTMENT FLEXIBLE EXCHANGE RATE FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FOREIGN EXCHANGE RESERVES FOREIGN RESERVES FORESTRY FREEDOM OF INFORMATION GENDER GLOBAL BUSINESS GLOBAL DEMAND GLOBAL ECONOMY GLOBAL MARKET GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT POLICIES GOVERNMENT SPENDING GROUP LENDING GROWTH RATE GROWTH RATES HIGH INFLATION HIGH UNEMPLOYMENT HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOME HOUSEHOLDS IMPORT IMPORT GROWTH IMPORTS INCOME GROWTH INCOME LEVELS INFLATION INFLATION EXPECTATIONS INFLATION TARGETING INFLATIONARY EXPECTATIONS INTEREST RATES INTERNATIONAL BORROWINGS INTERNATIONAL STANDARDS INVENTORIES INVESTING INVESTMENT CLIMATE INVESTMENT INCOME INVESTMENT SPENDING LABOR FORCE LABOR MARKET LABOR MARKETS LABOR PRODUCTIVITY LIQUIDITY LOAN MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET CONDITIONS MARKET DEVELOPMENTS MARKET PARTICIPANTS MARKET RISK MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY SUPPLY MORTGAGE MORTGAGE DEBT MORTGAGE LENDING NATIONAL SECURITY NATURAL RESOURCES NON-PERFORMING LOANS NONPERFORMING LOANS OIL OIL MARKET OIL PRICE OIL PRICES OIL REVENUES OPEC OUTPUT GAP PENSION PENSION FUND PENSIONS POLICY MAKERS POPULATION GROWTH PORTFOLIO POVERTY REDUCTION PRICE INCREASES PRICE STABILITY PRICE VOLATILITY PRIVATE BANKS PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SAVINGS PRIVATIZATION PRODUCERS PRODUCTION CAPACITY PRODUCTIVITY GROWTH PUBLIC BORROWING PUBLIC DEBT PUBLIC FUNDS PUBLIC PARTICIPATION PUBLIC SPENDING REAL ESTATE REAL WAGE GROWTH REAL WAGES RECEIPTS RECESSION RED TAPE REGULATORY BARRIER REPO REPO RATE RESERVE RESERVE FUND RESERVE FUNDS RESERVES RETURN RETURNS RISK PERCEPTION SALES REVENUES SAVINGS SHARE OF CREDITS SLOWDOWN SOVEREIGN BONDS SOVEREIGN DEBT STOCK MARKET STOCK MARKET INDEX STOCKS STRUCTURAL REFORMS SUSTAINABLE GROWTH SWAP SWAPS TARGET RANGE TAX TAX COLLECTION TAX RATES TOTAL DEBT TRADE BALANCE TRADING TRANSACTION TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNION WAGES WORLD ECONOMY World Bank Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond |
| geographic_facet |
Europe and Central Asia Russian Federation |
| relation |
Russian economic report; no. 29 |
| description |
Russia's economy grew 3.4 percent
in 2012, down from 4.3 percent in 2011. The economy of
Russia slowed in the second half of the year due to weak net
exports, negative base effects, and destocking at the end of
the year. More than four years after the global financial
crisis hit, the world economy remains sluggish. Industrial
production lost momentum throughout last year, exports
expanded only at a moderate pace, and imports even declined
for three month during autumn 2012. Growth declined mainly
due to weaker performance of investment. Inventories were
flat as the restocking cycle after the crisis came to an
end, and fixed investment expanded only moderately as
business remained cautious about future prospects. The
weaker performance of the tradable sectors reflects sluggish
global demand and the poor agricultural harvest but also low
competitiveness in parts of the industry, as growth declined
for all three subsectors. The capital account strengthened
in 2012 as net capital outflows decreased. According to
preliminary estimates, the capital account deficit amounted
to US$40.9 billion or 2 percent of Gross Domestic Product
(GDP) in 2012, compared to US$76.2 billion or 4 percent of
GDP in 2011. The labor market remains tight. The
unemployment rate declined across the country, and vacancy
and replacement rates increased. The number of poor people
in Russia reached a record low. In the first nine months of
2012, some 17.2 million of people were below the poverty
line, three million less than a year ago and the lowest
number in the last two decades. The weak external
environment, high inflation, flat oil prices and sluggish
domestic demand are set to postpone a pickup in growth
towards the second half of 2013. Nevertheless, modest growth
and lower inflation are projected to reduce poverty further. |
| format |
Economic & Sector Work :: Economic Updates and Modeling |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond |
| title_short |
Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond |
| title_full |
Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond |
| title_fullStr |
Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond |
| title_full_unstemmed |
Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond |
| title_sort |
russian economic report, no. 29, spring 2013 : recovery and beyond |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/01/17389712/russian-economic-report-recovery-beyond http://hdl.handle.net/10986/16565 |
| _version_ |
1764434038783737856 |
| spelling |
okr-10986-165652021-04-23T14:03:30Z Russian Economic Report, No. 29, Spring 2013 : Recovery and Beyond World Bank ACCOUNTING ACCOUNTING STANDARDS ADMINISTRATIVE BURDEN ADMINISTRATIVE PROCEDURES ADVANCED ECONOMIES ANNUAL GROWTH ARREARS AUCTION AVERAGE OIL PRICE BALANCE OF PAYMENT BALANCE OF PAYMENTS BANK DEPOSITS BANK LENDING BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BASIS POINTS BORROWING CAPACITY BRIBE BRIBES BUFFERS BUSINESS CONFIDENCE CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL OUTFLOWS CDS CENTRAL BANK COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES COMPETITIVENESS COMPOSITION OF GOVERNMENT DEBT CONSOLIDATION CONSUMER LENDING CONSUMPTION GROWTH CORE INFLATION CORRUPTION CPI CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT EXPANSION CREDIT GROWTH CREDIT QUALITY CURRENCY CURRENCY SWAP CURRENCY SWAPS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT SURPLUS DEBT REPAYMENTS DEFICITS DEMAND FOR CREDIT DEMOGRAPHIC TRANSITION DEMOGRAPHICS DEPOSIT DEVELOPING COUNTRIES DISPOSABLE INCOME DIVERSIFICATION ECONOMIC ACTIVITY ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC SLOWDOWN EMERGING ECONOMIES EMERGING MARKETS ENTREPRENEURS EXCHANGE RATE EXCHANGE RATE FLEXIBILITY EXCHANGE RATE POLICIES EXPENDITURE EXPENDITURES EXPORT VOLUMES EXTERNAL DEBT EXTERNAL DEMAND FEDERAL BUDGET FEDERAL BUDGET DEFICIT FINANCES FINANCIAL ACCOUNT FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SERVICES FISCAL BALANCE FISCAL BALANCES FISCAL DEFICIT FISCAL POLICY FIXED CAPITAL FIXED CAPITAL INVESTMENT FIXED INVESTMENT FLEXIBLE EXCHANGE RATE FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FOREIGN EXCHANGE RESERVES FOREIGN RESERVES FORESTRY FREEDOM OF INFORMATION GENDER GLOBAL BUSINESS GLOBAL DEMAND GLOBAL ECONOMY GLOBAL MARKET GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT POLICIES GOVERNMENT SPENDING GROUP LENDING GROWTH RATE GROWTH RATES HIGH INFLATION HIGH UNEMPLOYMENT HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOME HOUSEHOLDS IMPORT IMPORT GROWTH IMPORTS INCOME GROWTH INCOME LEVELS INFLATION INFLATION EXPECTATIONS INFLATION TARGETING INFLATIONARY EXPECTATIONS INTEREST RATES INTERNATIONAL BORROWINGS INTERNATIONAL STANDARDS INVENTORIES INVESTING INVESTMENT CLIMATE INVESTMENT INCOME INVESTMENT SPENDING LABOR FORCE LABOR MARKET LABOR MARKETS LABOR PRODUCTIVITY LIQUIDITY LOAN MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET CONDITIONS MARKET DEVELOPMENTS MARKET PARTICIPANTS MARKET RISK MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY SUPPLY MORTGAGE MORTGAGE DEBT MORTGAGE LENDING NATIONAL SECURITY NATURAL RESOURCES NON-PERFORMING LOANS NONPERFORMING LOANS OIL OIL MARKET OIL PRICE OIL PRICES OIL REVENUES OPEC OUTPUT GAP PENSION PENSION FUND PENSIONS POLICY MAKERS POPULATION GROWTH PORTFOLIO POVERTY REDUCTION PRICE INCREASES PRICE STABILITY PRICE VOLATILITY PRIVATE BANKS PRIVATE CREDIT PRIVATE INVESTMENT PRIVATE SAVINGS PRIVATIZATION PRODUCERS PRODUCTION CAPACITY PRODUCTIVITY GROWTH PUBLIC BORROWING PUBLIC DEBT PUBLIC FUNDS PUBLIC PARTICIPATION PUBLIC SPENDING REAL ESTATE REAL WAGE GROWTH REAL WAGES RECEIPTS RECESSION RED TAPE REGULATORY BARRIER REPO REPO RATE RESERVE RESERVE FUND RESERVE FUNDS RESERVES RETURN RETURNS RISK PERCEPTION SALES REVENUES SAVINGS SHARE OF CREDITS SLOWDOWN SOVEREIGN BONDS SOVEREIGN DEBT STOCK MARKET STOCK MARKET INDEX STOCKS STRUCTURAL REFORMS SUSTAINABLE GROWTH SWAP SWAPS TARGET RANGE TAX TAX COLLECTION TAX RATES TOTAL DEBT TRADE BALANCE TRADING TRANSACTION TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNION WAGES WORLD ECONOMY Russia's economy grew 3.4 percent in 2012, down from 4.3 percent in 2011. The economy of Russia slowed in the second half of the year due to weak net exports, negative base effects, and destocking at the end of the year. More than four years after the global financial crisis hit, the world economy remains sluggish. Industrial production lost momentum throughout last year, exports expanded only at a moderate pace, and imports even declined for three month during autumn 2012. Growth declined mainly due to weaker performance of investment. Inventories were flat as the restocking cycle after the crisis came to an end, and fixed investment expanded only moderately as business remained cautious about future prospects. The weaker performance of the tradable sectors reflects sluggish global demand and the poor agricultural harvest but also low competitiveness in parts of the industry, as growth declined for all three subsectors. The capital account strengthened in 2012 as net capital outflows decreased. According to preliminary estimates, the capital account deficit amounted to US$40.9 billion or 2 percent of Gross Domestic Product (GDP) in 2012, compared to US$76.2 billion or 4 percent of GDP in 2011. The labor market remains tight. The unemployment rate declined across the country, and vacancy and replacement rates increased. The number of poor people in Russia reached a record low. In the first nine months of 2012, some 17.2 million of people were below the poverty line, three million less than a year ago and the lowest number in the last two decades. The weak external environment, high inflation, flat oil prices and sluggish domestic demand are set to postpone a pickup in growth towards the second half of 2013. Nevertheless, modest growth and lower inflation are projected to reduce poverty further. 2014-01-10T22:11:32Z 2014-01-10T22:11:32Z 2013-02 http://documents.worldbank.org/curated/en/2013/01/17389712/russian-economic-report-recovery-beyond http://hdl.handle.net/10986/16565 English en_US Russian economic report; no. 29 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Europe and Central Asia Russian Federation |