Russia Monthly Economic Developments

  • On July 1, the European Council extended the economic sanctions against Russia for six months. Russia eased its economic sanctions against Turkey.
  • The 12-month Consumer Price Index edged up to 7.5 percent in June from 7.3 percent in May, as base effects pushed up food inflation.  A strong decline in fixed investment dominated the demand composition of GDP growth during the first quarter of 2016.
  • Poverty improved slightly in the first quarter of 2016, while unemployment remains elevated.
  • The privatization of government shares in the state-owned diamond producer is underway and others are expected to follow later in 2016.


Birgit Hansl

Program Leader and Lead Economist for the Russian Federation

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Marina Vasilieva
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