Russia's Monthly Economic Developments
April 10, 2015
- Global oil prices gained strength, averaging during the first week of May US$67 per barrel—the highest since January.
- In April, the ruble appreciated by 13 percent against the US dollar bolstered by favorable external balances due to higher oil prices, continued low import demand and lower external debt payments.
- Inflation pressures began to subside in April, motivating the Central Bank of Russia to cut key policy rates by 150 basis points to 12.5 percent.
- Industrial activity somewhat steadied in March yet indicators point towards continued weakness in domestic demand.
- In the first quarter, the federal budget deficit stood at 4.9 percent of GDP while the non-oil deficit soared to 14.2 percent of GDP amid rising expenditure.
- Development Partners Support the Creation of Global Financing Facility to Advance Women’s and Children’s Health
- 73 Countries and Over 1,000 Businesses Speak Out in Support of a Price on Carbon
- World Bank Group to Nearly Double Funding in Ebola Crisis to $400 Million
- International Food Prices Hit Four-Year Low
- Speech by World Bank Group President Jim Yong Kim at Howard University: “Boosting Shared Prosperity”