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300,000 former entrepreneurs will go to labor market and get registered as unemployed

27 march 2013

One of these days the President of Russia Vladimir Putin will commission the Russian Government to reconsider the expedience of raising imputed social transfers payable by individual entrepreneurs.

 

Russia’s budget system can be described as ‘unstable balance’

27 march 2013

According to the Federal Treasury of Russia, the volume of federal budget revenues amounted to Rb 1.98 trillion in January-February 2013, showing a decrease of 2.3 p.p. of GDP year on year. The volume of federal budgetary expenditures also decreased to 23.6 % of GDP (Rb 2239.5bn) in January-February 2013, showing a decrease of 0.3 p.p. of GDP year on year.

The offshore history of Cyprus has come to its end

26 march 2013

On Monday night the Cypriots found out how to prevent Cyprus from default. The island country will receive 10bn euro of financing from the European Commission, European Central Bank, and IMF. Though no disputable tax on bank deposits was imposed, two largest banks which suffered from Greece debts remission - Bank of Cyprus and Cyprus Popular Bank (Laiki) -- will have to fall victims.

 

Refined data on capital investments in 2011–2012

20 march 2013

The Federal State Statistics Service of Russia (Rosstat) published refined data on investment volumes in 2011-2012 and adjusted growth rate data in comparable prices for the period between 2001 and 2012.

Cyprian offshores – an evil which used to work smoothly

20 march 2013

The Cyprian Government delegation headed by Minister of Finance Michalis Sarris arrived to Moscow on March 20 to negotiate with the Russian Government on billion dollar loans in exchange for holding an interest in Cyprian banks and energy assets.

 

The dynamics of the industry in February 2013

19 march 2013

The tendency towards a steady slowdown in industrial production continued throughout 2012. In December 2012, the rate of industrial production amounted to 101.4% of the previous year.



Stability of the Cypriot financial system under threat

18 march 2013

A measure to tax all the deposits in Cypriot banks under new special taxing policies is something unparalleled, never seen before. Today, the Cypriot Parliament will decide whether or not to approve the decision of the President, which is linked to obtaining financial assistance fr om the European Union in the amount of 10 billion Euros.

Taxpayer internet services from the Russian Federal Tax Service

15 march 2013

On 15 March, 2013 the Head of the Russian Federal Tax Service M.V. Mishustin, First Deputy Finance Minister T.G. Nesterenko, Head of the Federal Treasury, R.E Artyukhin made a working visit to Ufa 1


Nabiullina's nomination is a compromise step in the search of optimal policy

13 march 2013

On the 12 March, President of the Russian Federation Vladimir Putin proposed candidate Elvira Nabiullina for the role of Head of the Bank of Russia. 



The Russian government has approved the state program on the "Development of Foreign Economic Activity"

12 march 2013

On March 7, 2013, the Minister of Economic Development Andrei Belousov, spoke at a meeting of the Russian Government to report on the draft of the state program on "The development of foreign economic activity." After the discussion, the decision was agreed upon to approve the draft of the state program.


The death of Hugo Chavez - a factor of political risk in trade and economic relations

06 march 2013

The news of the death of the president of Venezuela, Hugo Chavez once again leads us to analyze the prospects of trade and economic cooperation with resource-dependent economies which simultaneously hold a high political risk.

Restricting cash flow will reduce the shadow sector of the economy

28 february 2013

In recent days, the Russian Finance Ministry has been actively discussing an initiative to establish a limit for payment transactions using cash funds. In this case, the different levels of the limits are referred to: 600 thousand, 300 thousand or even 100 thousand roubles.

The banking sector has entered a phase of calm

28 february 2013

In January 2013, the Russian banking sector entered into a phase of particular calm. The main indicators of credit dynamics of borrowed funds for the month were slightly downward.

 

The real sector of the economy: factors and trends

27 february 2013

If we take a look at this January, the dynamics of the main macroeconomic indicators with regards to the possibility of achieving the forecast of the Russian Economic Development Ministry for 2013 - growth of GDP at 3.5%, industrial production - at 3.6%, retail trade turnover - 5.4% and investment in fixed assets - 6.5%, - this achievement involves the mobilization and efficient use of resources.

Changes in Small Business Taxation

26 february 2013

Since January 1, 2013 patent-based taxation system for individual entrepreneurs is imposed; it is regulated by a separate Chapter 26.5, Part two of the Tax Code of the Russian Federation, having been singled out fr om Chapter 26.2 "Simplified Taxation System" into a separate special taxation regime.

IMF: The Economy Growth Pace of the Russian Federation May Exceed 6% a Year

20 february 2013

Odd Per Brekk, Senior Resident Representative of the International Monetary Fund in the Russian Federation, said that the Russian economy may grow at a pace over 6% a year provided that optimal policy in the investments sphere be realized. He added that everything would depend on the kind of economic policy the government was going to conduct.