Q4 2022 saw trend component growth in the industrial production index driven by extractive industries and manufacturing of goods substituting foreign brands which left the Russian market, as well as a pickup in demand for intermediate goods for the state defense order

The approved tax code amendments will cap a discount on Urals oil price to North Sea Dated for the calculation of oil taxes. By our estimates, amendments may bring an additional of around Rb640bn into the budget in 2023. However, the mechanism incorporated in the amendments entails the risk of a...

In Q2 2022, the industrial production volume decreased. Slow growth was observed only in the mining industry on the back of the extraction of minerals (except for fuel and energy) and industries related to the provision of services in the extractive sector. Manufacturing industries began to feel...

In January-October 2022 industrial production demonstrated sluggish growth. The main contribution was made by the food industry, textile and garment production, metallurgy, and machine-building. The growth, among other things, was due to the replacement of foreign brands with domestic products...

The sanctions imposed against Russia in the spring of 2022 can affect the growth of electricity prices, both for industrial consumers and for the population, through several channels: through higher prices for gas, coal and diesel fuel; through higher prices for equipment and technology; through...

The objective of this paper is to review the structure of the Russian exports and its dynamics over the last decade (the period of 1999-2006 is under review here) in the light of recent theoretical and empirical research findings on the importance of export structures to ensure sustainability of...

Russian Abstract: Снижение ключевой ставки Банком России выглядит преждевременным и несет риски дальнейшего разгона инфляции и нестабильности на валютном рынке. В...