Russian Economic Reports is a series of periodic economic reports from the Moscow office of the World Bank. Each report contains a concise description of the major economic trends and issues facing the Russian economy. In addition, the reports often includes a special focus, based on work carried out by the World Bank as part of its assistance program to the Russian Federation.
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#20, November 2009: From Rebound to Recovery?
Part 1: Recent Economic Developments in the World and in Russia: Global trends––showing slow recovery; Russia’s output––returning to modest growth in the third quarter; Domestic demand—compressed with slow and uncertain recovery; Labor markets––moderating adjustment; Balance of payments––improved current account but volatile capital flows; Monetary policy and credits––easing of monetary conditions but no significant lending; Fiscal policy––focusing on reducing the deficit and increasing expenditure efficiency; Policy challenges going forward; Economic and Social Outlook for 2009-10. Part 2:Special topics: Impact of the crisis on households in Europe and Central Asia: key findings from a recent World Bank report; Confronting "Death on wheels": making roads safe in the Russian Federation. Full text in English | Full text in Russian | Featured Report
#19, June 2009: From Crisis to Recovery
Part 1: Recent Economic Developments in the World and in Russia: International environment––the impact escalated in the first quarter of 2009; Output and investment - contracting sharply; Domestic demand—collapsing; Labor markets - adjusting downward sharply; Balance of payments - improving with rising oil prices; Monetary and exchange rate policy - easing monetary conditions, higher exchange rate volatility; Fiscal policy - rising deficit as fiscal stimulus plans are implemented; Policy challenges going forward; Economic and social outlook for 2009-10. Part 2:Special topics: Testing times in Russia - How to facilitate access to essential drugs and get more value out of pharmaceutical expenditures? Russia needs to act swiftly to reduce vulnerability to its changing climate. Full text in English | Full text in Russian | Feature Story
#18, March 2009: Refocusing Policy on Households
Part 1: Recent Economic Developments in the World and in Russia: International environment - deteriorating dramatically; Output and investment - rapidly decelerating since the fourth quarter of 2008; Domestic demand—slowing in late 2008, collapsing in early 2009; Labor markets - adjusting through all channels: employment, wages, and arrears; Balance of payments - deteriorating sharply; Monetary and exchange rate policy to contain the impact of the crisis; Fiscal policy - worsening fiscal position requires tight expenditure management; Policy challenges going forward; Outlook for 2009-10. Part 2: The Fiscal Policy Response to the Crisis in Russia: Fiscal response so far - targeting banks and firms rather than households; Strengthening the financial system - supporting liquidity and recapitalizing banks; Supporting the real economy - using direct support and easing the tax burden; Supporting the vulnerable - limited interventions in the labor market; The social impact - deepening and spreading fast; Adjusting the fiscal policy response - targeting households, infrastructure, and small and medium enterprises. Part 3: Poverty, Vulnerability And Inequality in Russia During 2002-06: Poverty fell substantially during 2002–2006, but chronic poverty and vulnerability to poverty remain a critical challenges; Improving the effectiveness of social policies plays a key role in fighting poverty. Full text in English | Full text in Russian | Feature Story
#17, November 2008: Limit the Impact of the Crisis, Deepen Structural Reforms
Part 1: Recent Economic Developments: Output and investment – starting to decelerate; Labor markets – still tight but likely to soften; Banking–rollover risk sharply rising and consolidation starting; Monetary-exchange policy and inflation–risk shifting towards liquidity; Fiscal policy and fiscal developments–aiming to limit the impact of the crisis; Policy challenges going forward; Outlook for 2008–2009. Part 2: Anatomy of the Crisis: A perfect storm–the US subprime mortgage and financial crises; The global crisis reaches Russia–oil prices and the stock market collapse; The impact of the financial crisis: fiscal and monetary growth and poverty. Part 3: Low Energy Efficiency Affects Russia’s Economyand Requires Government Intervention: The challenges of high energy intensity; Benefits of energy efficiency in addressing the challenges; Shaping an effective policy agenda to achieve energy efficiency. Full text in English | Full text in Russian | Feature Story
#16, June 2008
Part 1: Recent Economic Developments: GDP and Industrial Production, Investment, The Balance of Payments, Capital Flows, FDI, Inflation and Stabilization Policy, Impact of Food; Inflation, Fiscal Policy, Federal Budget, Income, Employment, Debt, Financial Sector, Structural Reforms. Part 2: Long-Term Fiscal Sustainability of the Russian Federation Part 3: Tackling Health Reform Full text in English | Full text in Russian | Feature Story
Part 1: Recent Economic Developments Part 2: Russian Regional Growth And Agglomeration Effects: Recent trends in industrial growth: 1999-2003 and 2004-2006 contrasted, Differences in regional growth and agglomeration effects. Part 3: Developing Targeted Social Assistance In Russia. Full text in English | Full text in Russian | Feature Story
#13, December 2006
Part 1: Recent Economic Developments. Part 2: Fostering an Innovation Economy in Russia. Part 3: Competitiveness, Innovation, and Skilled Labor: Some Conclusions from the World Bank/Higher School of Economics Investment Climate Survey. Full text in English | Full text in Russian
#12, April 2006
Part 1: Recent Economic Developments. Part 2: The Management of Surplus Oil Revenues: Major Opportunities for Russia. Part 3: Mortality and the Health of the Russian Population. Full text in English | Full text in Russian
#11, November 2005
Part 1: Recent Economic Developments. Part 2: Regional Development And Policy In Russia. Part 3: Migration And Russian Economic Development. Full text in English | Full text in Russian
#10, March 2005
Part 1: Recent Economic Developments. Part 2: Achieving Diversified Growth In Russia. Part 3: Russia's Wto Accession: What Are The Macroeconomic, Sector,Labor Market And Household Effects? Full text in English | Full text in Russian
#9, November 2004
Part 1: Recent Economic Developments. Part 2: Banking and Deposit Insurance in Russia. Part 3: A New Look at Poverty in Russia. Full text in English | Full text in Russian
#8, June 2004
Part 1: Recent Economic Developments. Part 2: Government Restructuring and Public Administration Reform. Part 3: Ownership Concentration, Once Again. Full text in English | Full text in Russian
#7, February 2004
Part 1: Recent Economic Developments. Part 2: Recalculating the Composition of Russia’s GDP. Part 3: Housing Finance in Russia. Full text in English | Full text in Russian
#6, August 2003
Part 1: Recent Economic Developments. Part 2: The Link Between Real Income and GDP Growth. Part 3: E-Learning in Russia’s Schools. Full text in English | Full text in Russian
#5, March 2003
Part 1: Recent Economic Developments. Part 2: Prioritizing Expenditures: Linking the Structural Reform Agenda to the Budget. Part 3: Reforming Russia's Pension System. Full text in English | Full text in Russian
#4, October 2002
Part 1: Recent Economic Developments. Part 2: Regional Diversification. Part 3: Monitoring the Impact of Deregulation on Small Enterprises. Full text in English | Full text in Russian
Part 1: Recent Economic Developments. Part 2: New Firm growth and the Social Consequences of Enterprise Restructuring. Full text in English | Full text in Russian
#1, October 2001
Part 1: Recent Economic Developments (PDF 79 Kb) Part 2: Implementation of the Government.s Reform Agenda. Part 3: Focus: The Efficiency of Public Investment in Russia. Full text in English | Full text in Russian
For all press inquiries regarding Russian Economic Reports, please contact World Bank Press Office in Russia: (7-495) 745-7000, Marina Vasilieva, mvasilieva@worldbank.org or Tatiana Piunovskaya, tpiunovskaya@worldbank.org
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