Russian economy

Ruble hits all-time low, past 80.1 against dollar

The ruble hit a historic low on Wednesday as the dollar climbed past the 80.1 rubles level for the first time, exceeding the levels seen during the dramatic plunge of the Russian currency in December 2014.

Jan 20, 2016, 17:53 PM IST

Russia says recession over but economic pain goes on

An end to Russia's recession would imply an increase in GDP in the third quarter over the second, but Ulyukaev offered no quarter-on-quarter figures.

Nov 23, 2015, 22:19 PM IST

Russian crisis-hit economy slumped 4.1% in third quarter

Russia's economy shrank 4.1 percent in the third quarter this year, official statistics showed today, as a recession caused by low oil prices and Western sanctions over Ukraine continued to take its toll.

Nov 12, 2015, 23:20 PM IST

Russian economy to see positive growth in 2016

Russia is expected to see a positive growth of 2.3 percent in its economy next year, a leading Russian official has said.

Jul 28, 2015, 10:50 AM IST

World Bank improves outlook of Russia`s battered economy

The World Bank on Monday said it saw some improvement in Russia`s battered economy, predicting it would shrink by 2.7 percent this year and return to growth of 0.7 percent in 2016.

Jun 01, 2015, 21:06 PM IST

IMF sees less pessimistic outlook for Russian economy

The International Monetary Fund on Thursday announced a less pessimistic forecast for Russia`s economy, predicting no more than 3.4 percent contraction in 2015 and emergence from recession in 2016.

May 21, 2015, 20:56 PM IST

Vladimir Putin says Russian economy not in crisis

Russian President Vladimir Putin said Tuesday the country's economy was not in crisis and that the worst was over, as the central bank is set to meet this week to decide whether to lower the interest rate following the ruble's rebound.

Apr 28, 2015, 23:07 PM IST

Vladamir Putin says worst is over for Russian economy

President Vladimir Putin said Thursday the worst was over for Russia`s crisis-hit economy as he shrugged off widespread concerns over the impact of the Ukraine crisis in his annual phone-in.

Apr 16, 2015, 19:36 PM IST

Inflation-hit Russia sees fruit, veg prices jump 22% in January

Inflation-weary Russians saw the price of fruit and vegetables increase by 22 percent in January, the government said Wednesday, increasing pressure on households already reeling from an economic crisis.

Mar 04, 2015, 17:20 PM IST

Russia unveils $35 billion anti-crisis plan, silent on cuts to pay for it

Russia announced a $35 billion "anti-crisis" spending plan on Wednesday to bail out an economy battered by Western sanctions and falling oil prices, but gave few details of the deep cuts it said would be enacted this year to pay for it.

Jan 28, 2015, 18:40 PM IST

Russia attacks 'politically motivated' downgrade to junk rating

Moscow said S&P`s downgrade to `BB+` was motivated by the West`s current standoff with Russia over Ukraine.

Jan 28, 2015, 00:16 AM IST

Russian govt preparing 18bn euro anti-crisis plan: deputy PM

The Russian government is preparing to launch an "anti-crisis programme" to tackle the country's stalled economy at the cost of 1.375 trillion rubles (USD 21 billion), deputy prime minister Igor Shuvalov said.

Jan 22, 2015, 11:38 AM IST

Kerry accuses pro-Russia rebels of `blatant Ukraine land grab`

US Secretary of State John Kerry accused pro-Russian separatists on Wednesday of attempting "a blatant land grab" in fresh fighting in eastern Ukraine.

Jan 22, 2015, 04:02 AM IST

Oil price plunge drags down Russian economy: EBRD bank

Russia`s battered economy will shrink by a far worse-than-expected 4.8 percent this year, as plunging oil prices add to fallout from the Ukraine crisis, the EBRD development bank forecast Monday.

Jan 19, 2015, 18:18 PM IST

Sanction-hit Russian state bank VTB receives $1.8 bn aid

Russia`s second largest bank VTB said Tuesday it has received 100 billion rubles ($1.8 billion) from the country`s national welfare fund, part of a plan to recapitalise the banking system hit by the falling ruble and Western sanctions.

Dec 30, 2014, 22:48 PM IST

Russian economy suffers first major contraction since 2009

Russia's economy shrank sharply in November and the rouble resumed its slide on Monday as Western sanctions and a slump in oil prices combined to inflict the first contraction in GDP since the global financial crisis.

Dec 29, 2014, 16:34 PM IST

Russian economy could shrink 4% next year: Minister

Finance Minister Anton Siluanov said on Friday Russia`s economy could suffer a 4-percent contraction next year and see a budget deficit of 3 percent.

Dec 26, 2014, 19:50 PM IST

Ex-minister Kudrin warns of "full-fledged crisis" in Russia

Russia`s government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, as evidence mounted of t

Dec 23, 2014, 06:34 AM IST

Putin says his grip on power is firm, economy will rebound

President Vladimir Putin vowed Thursday that Russia would rapidly recover from its financial crisis and said his grip on power was firm, even as new Western sanctions and a run on the ruble pile on the pressure.

Dec 18, 2014, 21:13 PM IST