Russia economy - updates

Rappler's latest stories on Russia economy


Russia to hike taxes on high earners after coronavirus

Jun 24, 2020 - 9:20 AM

Russian President Vladimir Putin says extra revenues from higher taxes starting 2021 would be used for 'treating children with severe rare diseases'

LOCKDOWN. A woman walks on a deserted street past the Vysoko-Petrovsky Monastery in downtown Moscow on April 16, 2020, during a strict lockdown in Russia to stop the spread of the coronavirus. Photo by Dimitar Dilkoff/AFP

Russia's central bank cuts key rate to historic low

Jun 20, 2020 - 8:00 AM

The Russian central bank says the negative effect of the economic lockdown has been 'more extended' than previously assumed

OUTDOORS. People enjoy warm weather in downtown Moscow on June 8, 2020, during a strict lockdown in Russia to stop the spread of COVID-19. Photo by Yuri Kadobnov/AFP

Russia unveils $72-billion virus recovery plan

Jun 03, 2020 - 1:05 AM

Aimed at boosting employment, incomes, and economic growth, the Russian government's plan 'contains over 500 measures'

A woman wears a protective face mask as she rides a bike along the Moskva river embankment in central Moscow on May 10, 2020, during a strict lockdown in Russia to stop the spread of the novel coronavirus COVID-19. (Photo by Yuri KADOBNOV / AFP)

Russian small businesses reopen to uncertain future

May 31, 2020 - 4:30 PM

A study shows about a third of Russian companies risk bankruptcy following a collapse in demand fueled by the coronavirus pandemic

Russian businessman Boris Kupriyanov, the owner of Falanster book store, inspects shelves in his closed shop in Moscow on May 29, 2020, amid the COVID-19 outbreak, caused by the novel coronavirus. - When Moscow authorities closed bookshops and other non-essential businesses to stop the spread of the coronavirus, publisher Boris Kupriyanov began to personally deliver books to customers. This, he said, is what has helped him and his indie bookstore to survive for the past two months. (Photo by Alexander NEMENOV / AFP)

Russian economy seen to shrink 9.5% in Q2 2020

May 22, 2020 - 9:00 AM

After sluggish growth in the 1st quarter of 2020, Russia expects its 2nd quarter gross domestic product to plummet as coronavirus restrictions bite

A woman walks on a deserted street past the Vysoko-Petrovsky Monastery in downtown Moscow on April 16, 2020, during a strict lockdown in Russia to stop the spread of the COVID-19 coronavirus. (Photo by Dimitar DILKOFF / AFP)

Russia Q1 2020 economic growth slows to 1.6%

May 20, 2020 - 12:45 AM

This is lower than the Russian economy ministry's forecast of 1.8%. But the 2nd quarter figure is expected to be much worse as the full impact of the coronavirus lockdown is felt.

STOCKING UP. A woman stands by partially empty shelves at a local supermarket in Moscow, Russia, on March 17, 2020. Photo by Natalia Kolesnikova/AFP

Russia's small businesses buckling under virus restrictions

Apr 14, 2020 - 4:35 PM

For Russians whose purchasing power has already been hit over recent years, the economic situation looks set to become even more precarious

A woman crosses a road in front of closed shops on the outskirts of Moscow on April 11, 2020. - When President Vladimir Putin announced a paid holiday over April to keep Russians home and prevent the coronavirus from spreading, many small business owners braced. How would they keep the president's promise of paying employees while shutting? Lawmakers are due Tuesday to table legislation to help small and medium sized businesses, but for many it could already be too late. (Photo by Kirill KUDRYAVTSEV / AFP)

Coronavirus, falling oil hit Putin hopes for economic revival

Mar 20, 2020 - 10:50 PM

Russian President Vladimir Putin promised to revive the economy, but now faces a double whammy

PUTIN. In this file photo, Russian President Vladimir Putin looks on during a press conference on December 11, 2017. File photo by Alexander Zemlianichenko/Pool/AFP

Russia unveils measures to support business amid pandemic

Mar 17, 2020 - 7:35 AM

Russian Prime Minister Mikhail Mishustin also calls on large corporations to provide solutions and help the government

A woman stands by partially empty shelves in a local supermarket on March 17, 2020, in Moscow, as people stock up on goods amid concerns over the COVID-19 outbreak, caused by the novel coronavirus. (Photo by Natalia KOLESNIKOVA / AFP)

IMF slashes 2015-2016 world growth forecast

Jan 20, 2015 - 4:39 PM

The IMF said poorer prospects in China Russia the euro area and Japan will hold world GDP growth to just 3 5 this year and 3 7 in 2016

A file photo dated 18 May 2011 showing the sign of the International Monetary Fund at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. Jim Lo Scalzo/EPA

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

Dec 18, 2014 - 9:16 PM

The Russian leader says the economic downturn will last two years at most but adds the economic gloom has not swayed his stance on Ukraine

UNDER SCRUTINY. Russian President Vladimir Putin speaks at his annual news conference in Moscow, Russia, 18 December 2014. Vladimir Putin will face scrutiny from journalists with more than 1,000 gathered in Moscow on 18 December for the Russian president's end-of-the-year press conference. Global interest in the annual event is high because of the crisis over Ukraine and the recent collapse of the Russian ruble. EPA/MAXIM SHIPENKOV

Russians go on shopping splurge as ruble plunges

Dec 17, 2014 - 1:28 PM

For those with savings planning to buy big ticket imported items now is the time to hit the shops before prices go up drastically to reflect the new cost of imports

A Russian one Ruble coin placed on a one dollar note. Karl-Josef Hildenbrand/EPA

Sanctions-hit Putin visits India to boost energy, trade ties

Dec 11, 2014 - 2:19 PM

UPDATED Putin will be looking to advance nuclear power oil and natural gas and even diamond deals with longstanding ally India on his first visit since Prime Minister Narendra Modi swept to power in May

Russian President Vladimir Putin in St. Petersburg on December 8, 2014. Alexey Druzhinin/Pool/RIA Novosti/AFP

Ukraine opposition seeks early polls after protest crackdown

Dec 01, 2013 - 8:17 AM

Opposition parties also said they would form a national resistance task force and call a countrywide strike

ANGER IN KIEV. Ukrainian protesters wave an EU flag as hundreds gather for an opposition rally in Mykhayllivska Square in Kiev after police dispersed protesters in Independence Square on November 30, 2013. AFP/Vasily Maximov