Russia's Monthly Economic Developments
March 10, 2015
- Crude oil prices rebounded in February, gaining on average 16 percent compared to January.
- The Ruble appreciated in February by 12 percent against the US dollar as oil prices stabilized and geopolitical tensions subsided, yet inflation remained on the rise.
- In January, Russia’s high frequency statistics confirmed the expected slowdown in industrial activity and further weakening of domestic demand, verifying that the December trends in economic activity were only temporary.
- In February, government tapped for the first time this year into the Reserve Fund for budget financing, as January federal budget revenue decreased due to low oil prices while expenditure increased as military spending soared.
- In early March, the Ministry of Finance submitted amendments to the 2015 federal budget to the government.
- 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”