Eastern Europe / Data
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Russia meets Opec oil production cut target
Russia has met the production cut target agreed with Opec in May and produced 300,000 less barrels of oil than in October, just after the agreement was signed, according to Energy Minister Alexander Novak.
Ukraine's industrial production surges in June and consumption demand returns, but agriculture is down
Ukraine’s industrial production continues to rise steadily up 3.8% y/y in June from 1.2% in May. The gain shows that industrial activity is picking up as are consumption and construction, but agricultural production is down due to bad weather.
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IMF says Russia’s economy is gradually recovering
The International Monetary Fund (IMF) confirmed it sees the Russian economy gradually returning to health this year.
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Cold weather hits Russian economy in May but recovery still on track
Russia’s statistics agency released a slew of numbers for June and revised the May numbers. The bottom line is while the economy took a hit from the bad weather in May, the recovery is broadly on track and life is starting to look better.
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Visitors to Eurovision song contest pushed up Ukraine's retail sales 7.3%
Visitors to May's Eurovision song contest pushed up Ukraine's retail sales in the first half of this year, but big jumps in real income suggest consumption will continue to rise in 2017.
Half of Russians see hardest crisis times still ahead
Almost half of Russians (45%) believe the “worst is yet to come” for them as the crisis unwinds, according to the state owned pollster, the Russian Public Opinion Research Centre (VTsIOM).
Average bribe in Moscow is $10,397
Russia’s interior ministry calculates that the average size of a bribe in the capital is RUB614,000 ($10,397).
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Russian passenger car production rose 17% in June
Production of passenger cars in Russia grew by 16.9% y/y in June to 121,000 units, according to Rosstat. Compared to May of this year, car production grew by 16.3%.
NBU: Ukraine’s reserves could rise to $20bn in 2017
Ukraine’s central bank (NBU) forecasts gross international reserves will reach $20bn by the end of 2017 from $18bn as of end-1H17, according to its Inflation Report released last week. However, if things go badly reserves could fall to $16bn.
Russia's industrial output continues growth in June
Russia's industrial output in June continued its recovery, expanding by 3.5% year-on-year in June, according to a report by Rosstat statistics agency on July 17. The figure matched the expectations of analysts surveyed by Reuters and continues the re
Nato still has a mixed reception in Emerging Europe
After 70 years of being told Nato was the enemy, most of the populations of the former Communist bloc continue to have mixed feelings about their former enemies – even if the geopolitics have changed radically.
Trade between Russia and China on course to hit $80bn target for this year
Trade turnover between Russia and China grew by almost 26% in the first half of 2017 and is on course to hit the $80bn target for this year.
Russia’s first quarter equity sell off creates buying opportunity, says Aton
The dollar-denominated Russia Trading System index is down 13% this year and fell briefly below the psychologically important 1000 mark, making some investors ask if the market was so cheap it was worth a punt.
Monthly bond wrap: Russia leads in CEE with $5.85bn new issues in June
Ten of 12 new bond issues in the Commonwealth of Independent States (CIS) in June were Russian after only one Russian bond issue offer in May.
Russian stocks may gain 15% in 2H17 to end year flat against January's levels
Stock market loses impetus of 2016 after investors took profits, political tensions with US grew and oil prices fell below $50 a barrel.
Return of Russian tourists swells Turkey’s arrivals figures
The number of foreign tourists visiting Turkey rose by 16% y/y to 2.89mn in May, with the return of Russian tourists in the wake of the Ankara-Moscow rapprochement driving the expansion.