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Five-years sanctions: food production increased, and also prices

Most of all, the embargo helped dairy, fruit and vegetable producers. On August 6, 2014, Russian President Vladimir Putin signed a decree banning or restricting the import of agricultural products, raw materials, and food from states that introduced economic sanctions against some Russian Federation residents. The next day, the government determined the countries and types of food that should be banned: meat, fish, shellfish, milk and dairy products, vegetables, fruits, etc. from the European Union, the USA, Canada, Australia, and Norway fell under the embargo. The sanctions were introduced for a year. But the embargo is extended every year. Again in June Putin once again extended it until December 31, 2020.

 

Source: www.vedomosti.ru   

News
In 2018, consumption of sweets in Russia broke the record of the previous year for all key indicators – consumption, production, sales, and export.
The main source of growth of the Russian economy in the second quarter of 2019 was consumer demand, estimates the Central Bank of the Russian Federation in the information and analytical commentary “Economics”.
The Ministry of Economic Development lowered the forecast for inflation in the Russian Federation for 2020 to 3% from 3.8%, keeping the forecast for 2021-2024 at 4%, the Minister for Economic Development of the Russian Federation Maxim Oreshkin told reporters, presenting an updated forecast for the Ministry for 2020-2024 and Updated forecast for 2019.

The volume of investments in fixed assets in Moscow in H1 2019 increased by 19.5% YoY and amounted to 946 billion rubles, according to a press release from the Complex of Economic Policy and Property & Land Relations of the Moscow Government.

The annual inflation forecast for 2019, according to the Ministry of Economic Development, is about 4.3%. According to July 15, annual inflation in the Russian Federation fell to 4.5%, according to the report of the Ministry of Economic Development “Picture of business activity. July 2019”.

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THE RUSSIAN TOURIST MARKET
THE RUSSIAN TOURIST MARKET
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Review of the Russian Coffee Market
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Review of the Russian Meat Market
Review of the Russian Fruit and Vegetables Market
Review of the Russian Fruit and Vegetables Market
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