iBIC News

Russian inflation down to 4.4% by mid-March
Mar 16, 2017 interfax.com
Inflation in Russia continues to slow and was 4.4% in annual terms by March 13, lower than the Economic Development Ministry and Central Bank expected.
Revenue target of Ukraine's 2017 national budget met by 109.2% in Jan-Feb
Mar 03, 2017 en.interfax.com.ua
Revenues of Ukraine's national budget in January and February 2017 totaled UAH 112.04 billion, which was 9.2% or UAH 9.4 billion more than the target, the State Treasury Service reported on Thursday. According to the report, revenue grew by UAH 41.45 billion or 58.7% year-over-year.
IMF ups forecast for Kazakhstan GDP growth
Feb 09, 2017 inform.kz
The International Monetary Fund (IMF) increased its forecast for Kazakhstan's economy growth in 2017. In its Concluding Statement on the country the IMF projects Kazakhstan's economy growth to reach 2.5 percent in 2017, trend.az reports. Non-oil growth should reach 4 percent by 2021, the statement said.
Inflation in January reported at 1.1%, up from December's 0.9%
Inflation in Ukraine in January 2017 was 1.1% compared to 0.9% in December 2016, the State Statistics Service reported on Wednesday. In annual terms (compared to the same month last year) inflation in January fell to12.4% from 12.6%.
Russia’s GDP down 0.6% in 2016
Feb 01, 2017 tass.com
Russia's GDP decline by 0.6% in 2016, according to the preliminary assessment contained in the weekly monitoring of the Economic Development Ministry. In December 2016, GDP (net of seasonal factor) declined by 0.5% month-on-month and by 1% year-on-year, according to the Ministry.
Russian economy to grow steadily in next 5 years, but has capacity for more – IMF
Jan 12, 2017 rt.com
Russia will see average GDP growth of 1.5 percent in the next five years, according to International Monetary Fund (IMF) Deputy Managing Director David Lipton. However, he told the Gaidar Economic Forum in Moscow the country should strive for faster growth.
The World Bank predicts growth of Ukrainian economy
Jan 11, 2017 kyivpost.com
The World Bank has left unchanged its forecast for economic growth in Ukraine for the next three years, and it noted the progress in the implementation of reforms, in particular in the system of public finance, debt management, energy and banking sectors. The World Bank predicts the economic growth of Ukraine at the level of 2 percent in 2017 and at the level of 3 percent in 2018 and 2019.
WB changes forecast on Kazakhstan's GDP growth for 2017
Jan 11, 2017 en.trend.az
The World Bank (WB) has increased its forecast for Kazakhstan's GDP growth for 2017. According to the WB January 2017 Global Economic Prospects report, real GDP growth in Kazakhstan will amount to 2.2 percent in 2017. The WB also forecasts Kazakhstan's GDP growth to recover to 3.7 percent in 2018 and to 4 percent in 2019.
Russian Families Spend 80% of Income on Essentials
Dec 21, 2016 themoscowtimes.com
According to a Center for Economic and Political Reform report, the average Russian family consisting of two working parents and one child spends between 53-143 percent of their income on food, medicine, housing, and transport. Basic expenses for families with two children and one breadwinner may double household income. The only exception is in Moscow, where basic spending amounts to 29-77 percent.
Armenian parliament ratifies agreements to avoid double taxation with Belarus, Germany, India and Sweden
Dec 13, 2016 arka.am
Armenian Parliament at a meeting on Tuesday ratified a number of agreements on the avoidance of double taxation and prevention of evasion of taxation with respect to taxes on property and income with Belarus, Germany, India and Sweden.
Acting Uzbekistan’s president wins presidential election
Dec 05, 2016 news.tj
Acting Uzbekistan’s President Shavkat Mirziyayev has won the presidential election with 88.61 percent of the vote. The official turnout was 87.83 percent, with more than 17.9 million out of some 20 million eligible voters taking part.
Big Western Companies Are Pumping Cash Into Russia
Nov 24, 2016 bloomberg.com
Even before the U.S. presidential election raised hopes of warmer ties with the Kremlin, some big Western companies were betting Russia’s economy will soon come out of the deep freeze. Big retailers like Sweden’s Ikea Group and France’s Leroy Merlin SA have begun pumping billions of dollars in new stores and factories, counting on Russia’s consumers to start emerging from hibernation after two years of recession.
Russia Turns the Switch off on LinkedIn
Nov 18, 2016 themoscowtimes.com
LinkedIn, the major global professional social network, has finally been banned in Russia after a Moscow court upheld an earlier decision by Russian state media watchdog Roskomnadzor. LinkedIn stands accused of failing to comply with a 2014 federal law requiring internet companies that process Russian citizens’ personal information to store their user data on servers located in Russia.
Russia approves 3-yr federal budget in first reading
Nov 18, 2016 rt.com
The project envisages a budget deficit of 3.2 percent of GDP in 2017, which will gradually fall to 2.2 percent in 2018 and 1.2 percent in 2019 with GDP reaching 2.1 percent growth by the end of 2019. This means a return to the three-year planning after 2016, which saw a one-year budget due to economic crisis in Russia.
FDI in Ukraine grows by $2.62 bln in Jan-Sept
Nov 16, 2016 en.interfax.com.ua
Foreign direct investment (FDI) in Ukraine in the form of shareholder capital totaled $45.152 billion as of October 1, 2016, and this is $2.62 billion or 6.2% up compared to the start of the year, the State Statistics Service reported on Tuesday. Nonresidents increased investment in Ukraine by $3.8 billion in January-September 2016 and withdrew $460 million, with the negative exchange rate difference being $660 million.
Inflation in Kazakhstan hits 6.2% since early 2016
Nov 02, 2016 today.az
Inflation rate in Kazakhstan hit 6.2 percent in Jan.- Oct. 2016, Statistics Committee of the Ministry of National Economy of Kazakhstan reported. Food prices have increased by 5.7 percent, non-food items’ prices have gone up by 7.6 percent, and paid services’ prices have increased by 5.4 percent since early 2016.
Inflation, business expectations in Ukraine again improve in Q3 2016
Oct 12, 2016 en.interfax.com.ua
Inflation, hryvnia devaluation and business expectations of Ukrainian business circles continued improving in the third quarter of 2016. Such estimates are recorded in a survey conducted by the National Bank of Ukraine (NBU) among the country's business leaders in the second quarter of 2016. According to the poll, Ukrainian business continues improving inflation expectations for the sixth quarter in a row.
IMF forecasts long term economical crisis for Belarus
Oct 04, 2016 blackseagrain.net
IMF mission presented the report on economic situation of Belarus, reports The report mentions that during 2015-2016 economic condition in Belarus was defined by “the decrease in national currency rate, salaries and at the same time growth of unemployment”. Moreover, IMF forecasts further economic decrease. Without structural reforms minor growth (+0.5%) can be expected in 2018.
IMF approves $1bn tranche to Ukraine
The International Monetary Fund said its board on Wednesday approved a long-awaited loan disbursement to Ukraine of about $1 billion after a review of the country's bailout program. The IMF has agreed to pump $17.5 billion into Ukraine 's economy in a four-year bailout, releasing the funds in installments subject to the government making progress on economic and anti-corruption reforms.
Russian Central Bank drops key rate to 10%
Sep 16, 2016 rt.com
“On 16 September 2016, the Bank of Russia Board of Directors decided to reduce the key rate from 10.50 to 10.00 percent per annum given the inflation slowdown, in line with the forecast decrease in inflation expectations and unstable economic activity. However, for the trend towards sustainable decline in inflation to strengthen, according to the Bank of Russia’s estimates, the current value of the key rate needs to be maintained till the end of 2016 with further possible cuts in 2017 Q1-Q2,” said the regulator.

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