The outlines of Russia’s next three-year budget are emerging: The 2017-2019 budget will impose austerity on the government, but pave the way for the 2018 presidential elections. Defence spending will fall, social spending will rise.
Russia’s industrial production is clearly dependent on state spending, but recent spending cuts by the finance ministry as it struggles to balance the budget show just how closely the two are intertwined.
Russia’s shopping footfall index accelerated again in the 35th week of the year as consumer confidence begins to return on the back of falling inflation and gradually recovering real incomes, according to the Watcom Shopping index.
Is Russia’s stock market stirring? The dollar-denominated RTS index crossed the psychologically important 1,000 mark for the first time in a year on September 7 and was trading at 1000.19 at the time of writing.
The seasonally adjusted Markit Russia Purchasing Managers’ Index for manufacturers put in a surprise jump in August after contracting in July. The index posted a 50.8 in August, up from 49.5 in July.
Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.
If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.
Thank you. Please complete your registration by confirming your email address. The confirmation email has been sent to the email address you provided.
IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.
"No day starts for my team without IntelliNews Pro" — UBS
Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.