Russian Economy General News: #8

The Russian economy shows growth - this is an obvious fact. Such a statement was made by President Vladimir Putin at the annual big press conference.

"As for the growth of the economy, it is still growing. This is an obvious fact. Here there are no pripis, "the head of state said.

According to the Russian leader, the automobile industry, chemical industry, pharmaceuticals, and agriculture are now showing more growth than other sectors. The president also noted the growth of Russian exports. "We came in first place in the world in terms of grain exports," the head of state added.

Also, the president added that in 2017 in Russia there was a record low inflation rate - at 2.5% in annual terms.

In addition, foreign direct investment in the economy doubled compared to last year. They amounted to $ 23 billion.

The fact that the Russian economy has emerged from the recession , and the growth of the gross domestic product in the country in the next two years will be 1.9%, was reported in the report of the Department of Economic and Social Affairs of the United Nations. About this portal iz.ru wrote on December 12.

Austin wrote:How Economic Shifts in China and India Could Impact Russia (Op-ed)

https://themoscowtimes.com/articles/how-economic-shifts-in-china-and-india-could-impact-russia-59951

TheArmenian wrote:The Central Bank of Russia has slashed interest rates by another 50points.
The benchmark rate now stands at 7.75%

http://markets.businessinsider.com/news/interestrates/Russia-Slashes-Rate-By-50-Bps-Signals-More-Reduction-1011532961

kvs wrote:Not quite.  The inflation rate is now 2.5%.   So the prime rate should be 2% or less.  

Nabiullina drinks NATO financing koolaid.  She thinks that a zero CPI is natural.   Zero CPI is physically impossible without a compensating
real standard of living contraction.    Even in the USA, where the middle class is shrinking, the CPI is about 2%.    Russia cannot have the
same inflation as the USA at its current development stage.   A 4-5% inflation rate is actually normal, especially when there are still long
term price adjustment transients associated with the transition to market economics.      

miketheterrible wrote:Damn, Putin was handsome. No homo of course.

MOSCOW, December 21. /TASS/. Chief Executive Officer of Russia’s Gazprom company Alexey Miller and Chairman of China National Petroleum Corporation (CNPC) Wang Yilin have signed an agreement on the basic conditions of gas supply from Russia’s Far East to China, Gazprom said in a statement.

"The document determines the main parameters of the future supplies, including their volume, the contract period, the timeframe to start the deliveries, the period to increase supplies and the border crossing point. The parties plan to sign the contract in 2018," the statement reads.

During the working meeting in Beijing, the sides gave high marks to gas partnership, noting that the companies are successfully implementing the project to export Russian gas to China via the so-called ‘eastern route’, and cooperating in a number of other areas, including underground gas storage, gas power generation, use of gas as motor fuel.

China’s state oil and gas company CNPC is Gazprom’s main partner in the country.

Currently, Gazprom is building the Power of Siberia gas pipeline, which will pump natural gas from the giant Chayanda oil and gas condensate deposit in Yakutia and the Kovykta gas condensate field in the Irkutsk Region in Eastern Siberia to deliver gas to the domestic market (via Khabarovsk to Vladivostok) and further on for exports to China. The pipe's section aimed for China will be built near Blagoveshchensk. The eastern route stipulates the supply of 38 billion cubic meters of natural gas to China annually within 30 years.

In 2017, Gazprom investment in the Power of Siberia pipeline increased to 158.811 billion rubles ($2.7 bln) from 76.162 billion rubles ($1.3 bln) .

The terms of the partnership in design, construction and operation of the cross-border zones of the gas pipeline are defined by an intergovernmental agreement dated October 13, 2014

In 2015, Gazprom and CNPC signed an agreement on the basic conditions of pipeline gas deliveries from Western Siberia to China via the "Western" route (Power of Siberia-2 pipeline). Initially supplies are envisaged at 30 billion cubic meters of gas per year.

Also in 2015, Gazprom and CNPC signed a memorandum of understanding on the project of pipeline shipments of natural gas to China from Russia’s Far East.

kvs wrote:It is clear that many people on this board do not have a clue about the importance of this issue....

Kimppis wrote:http://tass.com/economy/982340

So Russia's GDP is only up 1.4% from January to November? Well, I guess it makes sense if the economy really grew only by 1% in November. But that is quite a disappointment, so much for that 2%, which I thought was if anything conservative... ffs the economy was up by 2.5% in Q2, 3.1% in May.

So how the fuck was the growth much higher during H1!? It means IMF, and RCB were more accurate than the Ministry of Economic Development?

I know it's largely symbolic, I mean it's the first year of growth since 2014, but it seems to interest rates really are hurting... Or maybe I'm not reading that right. (Yeah, just read it again and I don't think so. There's no way around it, from January to November the growth was only 1.4%.) The slowdown is actually huge, damn...

Cyberspec wrote:

kvs wrote:It is clear that many people on this board do not have a clue about the importance of this issue....

The issue isn't whether high interest rates hurt economic activity but that it's a result of some foreign (illuminati ) controlled plot....I don't think it's that simple as you're suggesting

GunshipDemocracy wrote:what illumianti what illuminati? you mean charity donors and Open Russia sponsors ?

GunshipDemocracy wrote:
Lets wait for first half of new year what will happen. no economic depression worldwide we'll see drop of % rate to 6,5-7 . Perhaps more. I hope more programs supporting real economy.