Economy
Can we trust Russian economic statistics? Paid Members Public
Since the start of the war, the Russian authorities have classified heaps of important statistical and economic data. For the third year in a row, Moscow is not publishing figures on imports, exports, foreign trade, gold and foreign exchange reserves, or oil production. But can the data that Moscow still
The Central Bank readies another rate hike Paid Members Public
There is little doubt that the central bank is gearing up to raise its key interest rate in its next meeting on Friday. Currently set at 19%, it’s expected to be hiked to 20-21% — matching or surpassing the emergency interest rate introduced days after Russia invaded Ukraine. This time
Putin’s new passion: boosting Russia’s flagging birth rate Paid Members Public
The bleak demographic prospects for Russia’s near future have prompted the authorities into fresh action, with new legislation set to come into force to try to boost the country’s low birth rate. Last week, a bill banning “childfree propaganda” passed the first of three readings in parliament. The
Calls for childless tax Paid Members Public
Weeks after advancing a bill to ban “childfree ideology,” several Russian figures have started calling for a tax to be introduced on couples that do not have children. It is the latest proposal that advocates say will address the country’s war-related demographic problems and fits into a deepening conservative
Secret spending hits record level Paid Members Public
The Russian government on Monday sent its 2025-2027 budget to the State Duma, outlining plans that will see defense spending hit a post-Soviet record at 6.3% of GDP. We wrote about the plans for another ramp-up in Russia’s military spending in Friday’s newsletter. The publication of the
New US sanctions hit mid-tier online providers Paid Members Public
New US sanctions on the use of American software in Russia — agreed in June — have been in place since Sep. 12. The measures were designed to deprive Russian companies of access to business management, design and production tools. There were some exceptions in place to prevent undue disruption, but this
Jet crash prompts speculation over Russia’s import substitution drive Paid Members Public
Last Friday, a Russian Sukhoi Superjet (SSJ) 100 passenger aircraft crashed near Moscow, killing all three crew members on board. The plane was flying to Moscow’s Vnukovo airport after having undergone repair work. First developed in the 2000s, the model never took off with airlines either abroad or at
Russia ends subsidized mortgages, leaving a housing bubble and inequality behind Paid Members Public
On July 1, Russia halted its preferential mortgage program after awarding loans to millions of people at interest rates of up to 8% — half the Central Bank’s current base rate. The program was first introduced to support the real estate market during the Covid pandemic, but ultimately proved hugely
