Russia Economy in April 2015

Source: OPEC 4/17/2015, Location: Asia

GDP growth posted 0.4% y-o-y in the 4Q14, the slowest since the 4Q09. Household consumption increased nearly 1%, while government consumption declined 0.2% over the same period. GFCF declined 1.2% compared to the 4Q13. Growth was also supported by a 7.7% drop in imports, which was greater than the 2.3% deceleration in exports. GDP growth for 2014 stood at 0.6%, which was higher than most estimates. However, it is the lowest rate of economic growth since the 2009 recession. The economy slowed for the fourth straight year, mainly due to a fall in investment and slower growth in household consumption, according to revised data from the Federal Statistics Office.

Inflation increased further in March to 16.9% y-o-y, following a rise of 16.7% in the previous month. This indicates the eighth consecutive month of consumer price acceleration. The inflation rate has been on an upward trend since the beginning of 2014 as the ruble depreciation has led to a rise in import prices. The central bank lowered its benchmark interest rate in March to 14% from 15% in February.

Nevertheless, the ruble appreciated in March for the first time in eight months. The ongoing ceasefire in Ukraine, now in its second month, though not fully observed, and news of a better-than-expected economic performance in the 4Q14 have supported the currency. The market estimates that foreign debt payments of Russian firms will be 42% less in the 2Q15 than in the first three months of the year. This could be a supportive factor for the ruble in the coming months.

Retail sales dropped sharply in February by 7.7% y-o-y, signaling the second consecutive month of contraction. The forecast for GDP growth in 2015 remains intact this month at -3.2% y-o-y. So far, monthly data shows that the GDP shrank by 1.4% in January 2015 and by 2.3% in February 2015. It is worth noting in this context that the central bank of Russia estimates that GDP will fall by 3.5-4.0% in 2015, while the Economy Ministry expects it to shrink by 3%.


Norway >>  5/9/2022 - - High order intake in 1Q 2022, with signed new contracts worth approximately NOK 2.6 billion. The market outlook for the Company’s services continue ...
Turkey >>  5/9/2022 - Valeura Energy Inc., an upstream oil and gas company with assets in the Thrace Basin of Turkey and an announced acquisition in the offshore Gulf of Th...

United States >>  5/9/2022 - Earnings Release Highlights
- Exelon completed the separation of Constellation Energy Corporation (Constellation), Exelon’s former power generat...

United States >>  5/9/2022 - Overseas Shipholding Group, Inc., a leading provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, ...

United States >>  5/9/2022 - Essential Utilities Inc. reported results for the first quarter ended March 31, 2022.

“We delivered strong financial results for the first...

United States >>  5/9/2022 - - Delivered a fifth consecutive quarter of NSR growth, which contributed to continued strong earnings growth
- Total backlog reached $40.8 billi...


Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.