Economic News in Review
Crisis, Sectors, and Domestic Policy in Russia
September, 2009

 

Agriculture / Food

 

Russia To Harvest Enough Grain To Meet Domestic Needs And Export – Minister

Russia will harvest enough grain this year to meet its domestic needs and export to other countries, Agriculture Minister Yelena Skrynnik said.

 

Auto

 

GM Returns to Cold War Fear in Talks to Sell Opel

Behind GM's hesitation to sell its unprofitable car business in Europe lies a Cold War fear: American technology will fall into Russian hands.

 

Banking

 

Russia Bank Lending Still Sags

The Russian economy's nascent recovery is helping to ease the country's bad-debt crisis, although conditions for banks remain tough, according to the head of a major lender (for subscribed users).

 

Better Econ Easing Russia Bad Loan Crisis

Signs of recovery in the Russian economy are helping to ease the country's bad debt crisis, although consolidation within the banking sector is unlikely despite the tough conditions, according to the head of one major lender.

 

Ever More Russians Unable To Repay Bank Loans

Ever more Russians who a while ago took bank loans are unable to honor their liabilities. Statistics indicate the first half of the year saw a considerable worsening of the situation on the lending market, which is fraught with a new banking crisis.

 

Business Commentary

 

Where Next For Russia?

It's been ten years since Vladimir Putin assumed power in Russia. So what has he achieved, and what does the future hold?

 

Domestic Policy

 

Russian Govt To Name 60 Public Services To Be Provided In Electronic Form

The Russian government will approve a schedule of providing 60 public services electronic form, Vice Prime Minister Sergei Sobyanin said.

 

Prosecutor Orders Better Supervision Of Small Business' Rights

Prosecutor General Yuri Chaika demanded that prosecutors step up supervision over the rights of small and medium-size business in Russia.

 

The Kremlin, Decorporated

Medvedev asks State Prosecutor General to inquire into the activity of seven major state corporations.

 

How Much Do Officials Cost?

Crisis or not, the federal and regional authorities become increasingly more expensive. State machinery remains inefficient and unbelievably costly.

 

"Go Russia!"

The Excerpts from Dmitry Medvedev’s Article, "Go Russia!"

 

Over 700 NGO Projects To Be Implemented In 2009 With Budget Aid

Russia's Public Chamber has summed up the results of the contest for the annual governmental support to non-profit and non-governmental organizations.

 

Energy

 

Russian Renewable Energy Prepares For A Bigger Slice Of The Power Pie

As the world’s largest producer of gas, and one of the worlds major producers of oil and coal, Russia isn’t generally seen as being at the forefront of the global thrust towards greater use of renewable energy sources.

 

Russia Must Complete Liberalization Of Energy Mkts By 2030 - Putin

Russian Prime Minister Vladimir Putin has called for completing the liberalization of domestic markets of fuels by 2030.

 

Gas and Oil

 

Turkey bumps Ukraine as transit nation?

An energy agreement between Moscow and Ankara puts Turkey above Ukraine as the top transit nation for Europe, an analyst says.

 

Europe Gas Demand May Not Accommodate Rival Pipelines

Europe may have room for only one of two rival gas pipelines by the time the projects are due to be finished as changing energy policy and supply conditions reshape the continent's energy needs.

 

The Great Pipeline Opera

Inside the European pipeline fantasy that became a real-life gas war with Russia.

 

Indicators

 

Foreign Investment in City Plummets

The volume of foreign investment into St. Petersburg’s economy fell to $1.4 billion from January to June — 35 percent less than the same period last year.

 

Russia Emerging From Recession, Official Says

Russia is likely emerging from its deep recession, a top governmental official said Monday, noting an improvement in the latest economic output figures for July.

 

Russian Economy To Return To Pre-crisis Level In 2012

The Russian economy will reach 2008 pre-crisis level as early as in 2012, a government source working in the financial and economic area said on Tuesday.

 

IT

 

Medvedev hits out at media 'technological collapse' reports

Russia's president criticized on Monday media reports that claimed a recent fatal accident at a south Siberia hydropower plant indicated that Russia was on the verge of a technological collapse.

 

Russia 10-15 Years Behind Lead Industries In Computer Engineering –Expert

Russian industries will stop being competitive if they do not actively adopt computer engineering technologies, head of the Altair Engineering Russian office Leonid Rvachev told Interfax-AVN on Wednesday.

 

No Internet Access In The Regions

Data released yesterday by the Public Opinion Foundation (POF) indicates that only one-fourth of Russians use the Internet from home.

 

Medvedev Calls For Using Foreign Technology, Money

Russian President Dmitry Medvedev has said Russia should use foreign technology and financial resources and improve its relations with the West in order to modernize its economy.

 

685 Russian Populated Centres Still Have No Telephone Communication

All in all, 685 Russia's populated centres still have no telephone communications, Deputy Chief of the Federal Communication Agency Sergei Malyanov said during Tuesday's meeting of the Russian Communication Ministry's scientific and technical council.

 

Labor

 

Average Life Expectancy In Moscow Up By Nine Years Over 12 Years

The average life expectancy in Moscow lengthened by nine years in the past 12 years, while the average life expectancy in the whole of Russia increased over the same period by one year and a half, a source in the Moscow public health department told Itar-Tass.

 

Alcoholism Down Twofold In St Petersburg And Region, But Still High Nationwide

The number of people afflicted with alcoholism in St. Petersburg and the Leningrad region has decreased twofold over the past five years, chief regional drug abuse expert Yevgeny Krupitsky said on Wednesday.

 

Death Rate On Russian Roads Declines By 12 Prc In Jan-July – Kiryanov

The death rate on Russian roads decreased by 12 percent in the first seven months of the year, traffic police chief Viktor Kiryanov said.

 

Real Estate

 

The Death Of St. Petersburg?

St. Petersburg and, especially, Moscow suffered too much from the depredations of the 20th century to be able to afford to squander what remains of their priceless, irreplaceable heritage in this way.

 

Retail

 

The Plight of the Evicted Merchants

Traders selling cheap clothes in Moscow suffering more than just market fluctuations – dislocations and unaffordable rent payments.

 

Ikea to Resume Russia Expansion, Says Officials Obeying the Law

Ikea’s Russian chief said the world’s largest furniture retailer will resume plans to open stores, ending a freeze on Russian investment, because local officials started to adhere more closely to the law.

 

Travel

 

Swine Flu - An Excuse To Close the Borders?

Freedom to travel abroad has come under serious threat, with Russia’s public health chief Gennady Onishchenko proposing to ban Russian school trips to the U.K over fears of the children catching swine flu.

 

Is Côte d'Azur on their horizon?

Does the Russian president have the right to vacation abroad? What is written in the laws regarding this issue?