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Russian economy is quite resistant to the risks of sanctions

The economy of the Russian Federation is quite resistant to the potential risks of further deterioration in the attitude of investors to the markets of developing countries, as well as sanctions risks, according to the information and analytical material of the Central Bank “Financial Stability Review”.

"Due to the presence of balanced macroeconomic indicators, the Russian economy is quite resistant to the potential risks of further deterioration in investor attitudes towards EME (emerging markets - ed.), As well as geopolitical (sanctions) risks," the document says.

At the same time, it is noted that when it is necessary to limit risks for financial stability, the Bank of Russia can use a set of tools for crisis management, including operations on the OFZ market and on the foreign exchange market.

"One way to support the OFZ market may be to allow financial organizations not to overestimate the value of these securities," the Central Bank said.

In August, a bill was passed to the US Congress with a whole range of anti-Russian measures, including sanctions against the new government debt of the Russian Federation and state banks, which list includes Vnesheconombank, Sberbank, VTB, Gazprombank, Rosselkhozbank and Promsvyazbank. Experts interviewed by RIA Novosti noted that the wording in the state banks is vague, so it could potentially lead to a ban on dollar settlements.

Most foreign investors remain interested in Russian projects, despite all the "efforts" of Washington. This was stated by President - Chairman of the Board of PJSC "VTB Bank" Andrei Kostin in an interview with an economic observer Alexei Bobrovsky on the margins of the "Russia is calling!" Forum Western interest in working in Russia is confirmed, including the arrival in the country of a group of 40 investors who represent large foreign funds, as well as the successful placement this week of Russian Eurobonds for a billion euros.


Source: www.ria.ru and www.vestifinance.ru

News
The OECD predicts acceleration in the global economy and a slowdown in the domestic Russian economy. The decline in household incomes and the contraction of consumer demand may become an additional brake on the recovery of the Russian economy.
According to Rosstat, the economic downturn in Russia in 2020 amounted to 3.1% – significantly better than expected.
The Deputy Chairman of the Bank of Russia Alexey Zabotkin emphasized that the potential economic growth rates do not depend on monetary policy, they are influenced by demography, labor force, and the efficiency of institutions.
The Russian economy continues to lose its attractiveness in the eyes of large transnational businesses as consumers become poorer and the government continues the sanctions war with the West.

The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.

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