New Federal Budget: Deficit but Balanced

New Federal Budget: Deficit but Balanced The State Duma of the Russian Federation has adopted the federal budget for 2023 and for the planning period of 2024 and 2025. The main financial document of the country was commented on by the Chief Researcher of the Institute of Economics of the Russian Academy of Sciences, Doctor of Economic Sciences Igor Nikolaev.   The budget is about 5 thousand pages of text. Can…

A Difficult Decision: What private investors will prefer in 2023 

Yevgenia Obukhova A Difficult Decision: What private investors will prefer in 2023 Despite all the difficulties of 2022, Russians continue to save and look for tools in which to place savings. As before, the main requirement remains profitability – at least enough to protect the money from inflation.   In the past year, there were practically no “lifesaving assets” for the general public that would…

How the Oil “Price Ceiling” Will Affect the Russian Economy

How the Oil “Price Ceiling” Will Affect the Russian Economy Two Potential Scenarios   On the fifth of December, the European Union set a ceiling of $60 per barrel on the price of Russian oil. How will this affect the Russian economy? Alexander Potavin, an analyst at “Finam,” one of the largest investment groups in Russia, proposes considering two scenarios of further development of events with the oil market and the Russian…

COP27 for Russia: Interests of the domestic financial market in the international climate agenda

COP27 for Russia: Interests of the domestic financial market in the international climate agenda At the end of November, the annual Conference of the Parties to the UN Framework Convention on Climate Change (COP27) took place in Sharm el-­Sheikh, where participants discussed the implementation of their commitments to combat global warming. The relevance of COP27 and the Sustainable Development Agenda for the Russian financial market is described in her article by Tatyana…

Import Substitution Cannot Be Done with Money Alone – Here We Also Need the Knowledge Economy

Georgy Ostapkovich Import Substitution Cannot Be Done with Money Alone – Here We Also Need the Knowledge Economy In Russia, a turning point has come, and the process of restructuring the economy has begun, says Georgy Ostapkovich, Director of the Center for Market Studies at the Higher School of Economics. In an interview with Capital Ideas, he told what Russia’s security depends on today, whether…

Decentralized Finance: Features of development

Decentralized Finance: Features of development Decentralized Finance (DeFi) is a new form of financial products and services operating on the basis of “Permissionless Blockchains” using “Smart Contracts.” Sergey Andryushin, Doctor of Economic Sciences, Professor, Chief Researcher, Institute of Economics of the Russian Academy of Sciences   Decentralized finance differs from traditional centralized finance (CeFi) in three ways: First is the degree of transparency. Any user of the DeFi ecosystem can…

New Vectors of Moscow’s Foreign Trade Activity

New Vectors of Moscow’s Foreign Trade Activity Global changes are taking place in the world trade and economic system. How Moscow is adapting to them is described in his analytical article by Andrey Dorokhin, Head of the Division of Foreign Trade Analytics and Relations with International Organizations of the Department of Foreign Economic and International Relations of the City of Moscow   In 2022,…

What’s new #6 (2022)

Decoupling from Foreign Currency Continues in the Russian Banking Sector The share of assets and liabilities in foreign currency has decreased by 3%, to 15%. At the same time, the share of the yuan among foreign currency is increasing: a third of all currency exchange trading in November was held with the involvement of the yuan, First Deputy Chairman of the Bank of Russia Ksenia Yudaeva said at…

BRICS Infrastructure in the Context of International Investment Cooperation

BRICS Infrastructure in the Context of International Investment Cooperation The instability of the global economy has led to a search for new ways to ensure sustainable economic and financial development of any country. This is especially important for developing countries, and BRICS in particular. One of the ways of meeting new challenges is to strengthen investment cooperation between the partners.   Irina Yarygina, Dr. Sci. (Econ.), Prof.,…

Restrictive Measures Against Russia: What’s next?

  Restrictive Measures Against Russia: What’s next? From February to the end of November this year, 10,184 sanctions were imposed against Russia. What’s next? Will the sanctions intensify, and how will Moscow respond? Upon these questions reflects Lev Sokolshchik, Candidate of Historical Sciences, Associate Professor of the Department of Foreign Regional Studies of the Faculty of World Economy and World Politics, Research Fellow at…