Russia Monthly Economic Developments, July 2015
In June, the European Council extended EU economic sanctions against Russia for another six months while Russia extended its food import ban against Western countries for a year. A fluid situation on global financial markets and yet again lower gro...
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| Format: | Brief |
| Language: | English en_US |
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World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/09/24982254/russia-monthly-economic-developments http://hdl.handle.net/10986/22754 |
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okr-10986-227542021-04-23T14:04:10Z Russia Monthly Economic Developments, July 2015 Hans, Birgit Baffes, John Emelyanova, Olga Ulatov, Sergei Vashakmadze, Ekaterine TARIFFS DEFICIT RISKS BUFFERS BASIS POINTS EQUIPMENT OIL PRICE LONG-TERM INTEREST STOCK DEFLATION INCOME INTEREST DEPRECIATION IMPORT INFLATION RISK EXCHANGE REMITTANCE SUPPLIES ECONOMIC DEVELOPMENTS BANKING SYSTEM EXPORTERS RECESSION REVENUES FISCAL POLICY FINANCIAL STRESS CAPITAL ADEQUACY OIL REVENUES SLOWDOWN PRICE REAL INCOME RETAIL TRADE NON-PERFORMING LOANS PAYMENTS RESERVE INFLATION DEVELOPING COUNTRY RETAIL BUDGET CENTRAL BANK OIL PRICES CURRENCY EXPORT GROWTH INCOME GROWTH CREDIT RISKS INTEREST RATES DEBT MARKETS SOVEREIGN RATING DEFICITS BUDGET DEFICIT IMPORTS LOANS GLOBAL FINANCIAL MARKETS INVENTORIES RESERVES UTILITY CONSUMER DEMAND FOREIGN CURRENCY EXPENDITURE INVESTORS NATIONAL SECURITY OIL SUPPLIES CONSUMPTION DEBT PAYMENTS INVESTMENT GOODS OIL MARKET WAGES GLOBAL MARKET FUTURE PENSIONS FEDERAL BUDGET CREDIT FIXED INVESTMENT BUDGETS DEMAND EXCHANGES LONG-TERM INTEREST RATES EXTERNAL DEBT PAYMENTS CONSUMER PRICE EXPENDITURES ECONOMY INCOMES ASSETS MARKET FOREIGN EXCHANGE OUTPUT DOMESTIC DEMAND TRADE CORE INFLATION GDP GOODS GLOBAL TRADE SECURITY OIL EXPORTERS INVESTMENT FEDERAL BUDGET DEFICIT RISK SHARE QUOTA FINANCIAL MARKETS SUPPLY BANKING UNCERTAINTY REVENUE EXTERNAL DEBT CONSUMER PRICE INDEX CREDIT GROWTH EXCHANGE RATE FOOD PRICES CURRENCY SUPPLY PROFITS PRICE INDEX COMMODITY GLOBAL ECONOMIC PROSPECTS PRICES In June, the European Council extended EU economic sanctions against Russia for another six months while Russia extended its food import ban against Western countries for a year. A fluid situation on global financial markets and yet again lower growth prospects led to oil prices losing ground in early July. Ruble depreciation pressure remained throughout June as demand for foreign currency increased while supply declined slightly due to lower oil prices. Russia’s first quarter GDP growth was revised from -1.9 to -2.2 percent−still slightly less than projected earlier−while May high frequency statistics show a deepening recession. On June 25, the government approved the main parameters for the 2016–2018 budgets, foreseeing persistent deficits and evaporating fiscal buffers despite significant expenditure cuts. 2015-10-08T22:07:10Z 2015-10-08T22:07:10Z 2015-07-01 Brief http://documents.worldbank.org/curated/en/2015/09/24982254/russia-monthly-economic-developments http://hdl.handle.net/10986/22754 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief Europe and Central Asia Russian Federation |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
TARIFFS DEFICIT RISKS BUFFERS BASIS POINTS EQUIPMENT OIL PRICE LONG-TERM INTEREST STOCK DEFLATION INCOME INTEREST DEPRECIATION IMPORT INFLATION RISK EXCHANGE REMITTANCE SUPPLIES ECONOMIC DEVELOPMENTS BANKING SYSTEM EXPORTERS RECESSION REVENUES FISCAL POLICY FINANCIAL STRESS CAPITAL ADEQUACY OIL REVENUES SLOWDOWN PRICE REAL INCOME RETAIL TRADE NON-PERFORMING LOANS PAYMENTS RESERVE INFLATION DEVELOPING COUNTRY RETAIL BUDGET CENTRAL BANK OIL PRICES CURRENCY EXPORT GROWTH INCOME GROWTH CREDIT RISKS INTEREST RATES DEBT MARKETS SOVEREIGN RATING DEFICITS BUDGET DEFICIT IMPORTS LOANS GLOBAL FINANCIAL MARKETS INVENTORIES RESERVES UTILITY CONSUMER DEMAND FOREIGN CURRENCY EXPENDITURE INVESTORS NATIONAL SECURITY OIL SUPPLIES CONSUMPTION DEBT PAYMENTS INVESTMENT GOODS OIL MARKET WAGES GLOBAL MARKET FUTURE PENSIONS FEDERAL BUDGET CREDIT FIXED INVESTMENT BUDGETS DEMAND EXCHANGES LONG-TERM INTEREST RATES EXTERNAL DEBT PAYMENTS CONSUMER PRICE EXPENDITURES ECONOMY INCOMES ASSETS MARKET FOREIGN EXCHANGE OUTPUT DOMESTIC DEMAND TRADE CORE INFLATION GDP GOODS GLOBAL TRADE SECURITY OIL EXPORTERS INVESTMENT FEDERAL BUDGET DEFICIT RISK SHARE QUOTA FINANCIAL MARKETS SUPPLY BANKING UNCERTAINTY REVENUE EXTERNAL DEBT CONSUMER PRICE INDEX CREDIT GROWTH EXCHANGE RATE FOOD PRICES CURRENCY SUPPLY PROFITS PRICE INDEX COMMODITY GLOBAL ECONOMIC PROSPECTS PRICES |
| spellingShingle |
TARIFFS DEFICIT RISKS BUFFERS BASIS POINTS EQUIPMENT OIL PRICE LONG-TERM INTEREST STOCK DEFLATION INCOME INTEREST DEPRECIATION IMPORT INFLATION RISK EXCHANGE REMITTANCE SUPPLIES ECONOMIC DEVELOPMENTS BANKING SYSTEM EXPORTERS RECESSION REVENUES FISCAL POLICY FINANCIAL STRESS CAPITAL ADEQUACY OIL REVENUES SLOWDOWN PRICE REAL INCOME RETAIL TRADE NON-PERFORMING LOANS PAYMENTS RESERVE INFLATION DEVELOPING COUNTRY RETAIL BUDGET CENTRAL BANK OIL PRICES CURRENCY EXPORT GROWTH INCOME GROWTH CREDIT RISKS INTEREST RATES DEBT MARKETS SOVEREIGN RATING DEFICITS BUDGET DEFICIT IMPORTS LOANS GLOBAL FINANCIAL MARKETS INVENTORIES RESERVES UTILITY CONSUMER DEMAND FOREIGN CURRENCY EXPENDITURE INVESTORS NATIONAL SECURITY OIL SUPPLIES CONSUMPTION DEBT PAYMENTS INVESTMENT GOODS OIL MARKET WAGES GLOBAL MARKET FUTURE PENSIONS FEDERAL BUDGET CREDIT FIXED INVESTMENT BUDGETS DEMAND EXCHANGES LONG-TERM INTEREST RATES EXTERNAL DEBT PAYMENTS CONSUMER PRICE EXPENDITURES ECONOMY INCOMES ASSETS MARKET FOREIGN EXCHANGE OUTPUT DOMESTIC DEMAND TRADE CORE INFLATION GDP GOODS GLOBAL TRADE SECURITY OIL EXPORTERS INVESTMENT FEDERAL BUDGET DEFICIT RISK SHARE QUOTA FINANCIAL MARKETS SUPPLY BANKING UNCERTAINTY REVENUE EXTERNAL DEBT CONSUMER PRICE INDEX CREDIT GROWTH EXCHANGE RATE FOOD PRICES CURRENCY SUPPLY PROFITS PRICE INDEX COMMODITY GLOBAL ECONOMIC PROSPECTS PRICES Hans, Birgit Baffes, John Emelyanova, Olga Ulatov, Sergei Vashakmadze, Ekaterine Russia Monthly Economic Developments, July 2015 |
| geographic_facet |
Europe and Central Asia Russian Federation |
| description |
In June, the European Council extended
EU economic sanctions against Russia for another six months
while Russia extended its food import ban against Western
countries for a year. A fluid situation on global financial
markets and yet again lower growth prospects led to oil
prices losing ground in early July. Ruble depreciation
pressure remained throughout June as demand for foreign
currency increased while supply declined slightly due to
lower oil prices. Russia’s first quarter GDP growth was
revised from -1.9 to -2.2 percent−still slightly less than
projected earlier−while May high frequency statistics show a
deepening recession. On June 25, the government approved the
main parameters for the 2016–2018 budgets, foreseeing
persistent deficits and evaporating fiscal buffers despite
significant expenditure cuts. |
| format |
Brief |
| author |
Hans, Birgit Baffes, John Emelyanova, Olga Ulatov, Sergei Vashakmadze, Ekaterine |
| author_facet |
Hans, Birgit Baffes, John Emelyanova, Olga Ulatov, Sergei Vashakmadze, Ekaterine |
| author_sort |
Hans, Birgit |
| title |
Russia Monthly Economic Developments, July 2015 |
| title_short |
Russia Monthly Economic Developments, July 2015 |
| title_full |
Russia Monthly Economic Developments, July 2015 |
| title_fullStr |
Russia Monthly Economic Developments, July 2015 |
| title_full_unstemmed |
Russia Monthly Economic Developments, July 2015 |
| title_sort |
russia monthly economic developments, july 2015 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/09/24982254/russia-monthly-economic-developments http://hdl.handle.net/10986/22754 |
| _version_ |
1764451957522563072 |