Дорогие друзья! Больше трех лет я рассказываю вам об основных новостях, событиях, трендах на мировом рынке нефти и газа. Я делаю это бесплатно и без рекламы. Поэтому я прошу вас о помощи. Wognews нуждается в развитии. Вас больше 20 000 человек из более чем 80 стран мира. Если каждый пожертвует небольшую сумму денег, 500 или 1000 рублей, или больше, wognews станет лучше. Спасибо, Владимир Виноградов, основатель wognews.

Dear friends! For more than three years I've been telling you about the main news, events, trends in the world oil and gas market. I do it for free and without advertising. Therefore I ask you for help. Wognews needs development. You are more than 20 000 people from more than 80 countries. If each donate a small amount of money, $10, $20, $30 or more, wognews will become better. Thank you, Vladimir Vinogradov, the founder of wognews.
2017-07-17 13:50:00

IMF NEED RUSSIA

IMF NEED RUSSIA

IMFthe Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation  with the Russian Federation. 

The Russian economy stabilized in 2016, contracting by just 0.2 percent of GDP, after being hit in 2014 by the dual shocks of lower oil prices and sanctions. The relatively modest reaction to the large external shocks reflects the authorities' effective policy response—floating exchange rate, banking system liquidity support and capital injections, and limited fiscal stimulus coupled with restrictive incomes policies. The policy response was also enabled by robust buffers.

The more stable oil prices and improved financial conditions will support a return to growth in 2017, with an expected increase in real GDP of 1.4 percent. Growth is forecast to continue at 1.4 percent in 2018. The still negative output gap, weak consumption demand, strengthening of the ruble and lower food prices from a bumper harvest are supporting the convergence of CPI inflation to the Central Bank target of 4 percent at end–2017. With adverse demographics, and barring significant structural reforms that lifts productivity, potential growth is likely to stay at around 1½ percent over the medium term. The main risk to the outlook remains a fall in oil prices.

Executive Board Assessment 

Executive Directors agreed with the thrust of the staff appraisal. They commended the authorities for their effective policy response which, drawing on robust buffers, has helped the Russian Federation exit a two‑year recession. Looking forward, Directors stressed the need to reduce the economy's dependence on oil and rekindle structural reforms to support new sources of growth, accelerate per capita income convergence to that of advanced economies, and overcome demographic challenges.

Directors commended the authorities for reinstating the three‑year fiscal framework in the 2017 budget to reduce policy uncertainty. They emphasized that for the fiscal adjustment to be sustained, it should be underpinned by durable, well‑targeted measures and growth‑enhancing spending. Directors underlined the need for a credible fiscal rule to anchor the adjustment, allow a smoother response to oil price changes and build adequate savings. A parametric reform of the pension system would also deliver fiscal savings over time.

Directors welcomed the progress towards achieving the inflation objective. They recommended that monetary policy easing continue, but at a gradual pace, given the uncertain size of the output gap and the potential for disinflation reversal. They encouraged the authorities to shift the focus of their communication strategy to cover a longer horizon and clarify the acceptable departures from the inflation target.

Directors welcomed the steps taken to increase the resilience of the financial system, including an improved bank resolution mechanism. They encouraged further efforts to remove obstacles that discourage investors from effectively acquiring assets and liabilities in bank resolutions, replace central bank funding with federal funds, and increase recourse to banking industry capital. Directors also encouraged the authorities to revamp the statutory bail‑in legislation while keeping in mind financial stability implications. Directors noted that there is scope for further tightening the limit on related‑party lending and accelerating the introduction of explicit early bank intervention procedures.

Directors underscored that accelerated structural reforms and broader trade relations can help promote a diversified export mix. They also urged the authorities to strengthen property rights, advance privatization, improve governance, and invest in innovation and infrastructure to build the foundations for higher potential growth.

-----

Earlier: 

RUSSIA'S INVESTMENT POTENTIAL 

AGAINST RUSSIA SANCTIONS 

RUSSIAN OIL REDUCTION 

IMF: RUSSIAN STRUCTURAL REFORMS 

WBG: IMPORTANT FOR RUSSIA 

IMF: EXTERNAL RISKS FOR RUSSIA 

RUSSIA NEEDS MONEY

 

 

 

Tags: IMF, RUSSIA

Chronicle:

IMF NEED RUSSIA
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

IMF NEED RUSSIA
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

IMF NEED RUSSIA
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

IMF NEED RUSSIA
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00