Russian press to ☕11.05.2023

Good morning,

I'd like to invitation you to a subjective review of the Russian press which I hope will make your morning light..

Kommersant

1..Russia's oil and gas revenues fell by 52% year-on-year in January-April

The Russian Ministry of Finance published preliminary estimates a national budget for the period January-April 2023. Budgetary gross amounted to 7.7 trillion rubles, 22% little than in the same period last year. gross outside oil and gas increased by 5% to 5.5 trillion rubles. Oil and gas fell by 52%, to 2.2 trillion rubles. According to the agency, this is due to a advanced base from last year, a decline in Urals oil prices and a simplification in gas exports.

The expenditure of the national budget in the period January-April 2023 was 11.2 trillion rubles. This is 26% more than in the same period last year.

My comment on the cash registry shows that the situation is even worse than the finance department says. The biggest difference is that the Ministry counts future receipts and dues as if they have already influenced what in practice turns out to be fiction. The difference reaches 40% and has persisted for a long time. It should besides be remembered that the government has severely reduced expenditure outside the military sphere, besides reducing subsidies to regions. There were besides extra-budget expenditures carried out by Russian banks and corporations . This is where the war effort should be further increased.

2.The profits of the Treasury companies fell by more than half at the end of the year

At the end of 2022 there were 507 public limited-liability companies in which the state had more than 25%. Among them are Gazprom, Russian Railways, ALROSA, Rosseti, VTB, Sbierbank, RusHydro, Rosnieftiegas, Aeroflot, etc. About 33% of state companies lost at the end of the year.

RBC notes that the comparison of these 2 indicators shows that the profits of state companies have decreased more than in the full commercial sector.

In terms of profit, companies operating in the wholesale and retail sectors and repair of vehicles and motorcycles carried out public limited liability companies. Their balanced profit was about 1 trillion rubles, or 3 times little than the results of 2021.

Let us remind you that in 2023 and 2024 the state companies will be subject to additional taxation on profits for the years 2022 2021, which may origin any companies in considerable trouble.

3. Dog Lies

Russian President's press secretary Dmitri Pieskov said that the Russian military operation in Ukraine is very difficult, but within a year’s targets were achieved, for example “the demolition of military production”. According to him, Russia's slow action stems from the fact that it is simply a military operation alternatively than a war.

"Of course, it is very hard to compare the military possible of Ukraine and Russia. And you ask why the Russians are so slow? due to the fact that the Russians are not at war," said Dmitri Pieskov in an interview with ATV (Serb Republic, Bosnia and Herzegovina).

“We are not at war. moving a war is simply a full different matter, it is the full demolition of infrastructure, it is the full demolition of cities," said Psikov. "We don't do that. We are trying to save infrastructure and we are trying to save lives," said the President's spokesman.

Speaking of the military operation, Dmitri Pieskov said that Russia “we managed to break up Ukraine’s military machine.” "You see, with very precise Russian missiles, many military productions could be destroyed, weapons stocks and so on, and so on. This work will continue," he added. He pointed out that the enemy should be ‘at considerable distance’ from the cities of Donbas.

Commenting on the situation around Bachmut, where dense fighting is taking place, Dmitri Pieskov said, “I will not mention different names of people, but I will say, no substance what they say, no substance what the statements are, we are inactive talking about, say, the Armed Forces of the Russian Federation”.

MK. RU

4. The washing machines and the kitchen robots are going to make it more expensive.

Soon, within a period or two, the prices of abroad household appliances in our country will start to emergence rapidly and the scope will narrow down. This is due to the fresh tightening of parallel import control across Kazakhstan, which clearly followed in the footsteps of U.S. Secretary of State Anthony Blinken. Russian distributors must one more time decision supply chains to China, Kyrgyzstan and the United arabian Emirates. The situation may inactive be stable, but it is clear that in the close future, average consumers who dream of a fresh kitchen robot or washing device will gotta save all penny.

Kazakhstan "will not let its jurisdiction to be utilized to circumvent anti-Russian sanctions," said Deputy abroad Minister Roman Vasilenko. The authoritative recalled that from 1 April the country has been moving an online tracking strategy for goods delivered for subsequent re-exports. How crucial is this current direction of pruritus data The Russian Chamber of manufacture and Commerce, according to which trade between countries increased by US$2 billion in 2022, to US$26 billion.

The RTV and household appliances of Bosch, LG, Samsung, Electrolux and a number of others were imported to Russia mainly from Kazakhstan and Uzbekistan. In the second half of 2022 these producers began to lose their positions on the Russian market, their share of sales money fell respective times. At the same time free spots began to be actively occupied by Chinese and Turkish brands. "Kazakhstan was a convenient and inexpensive supply channel as part of the "grey" schemes," says Artem Deev, head of analysis at Amarkets. "Now for many importers in our country, bringing equipment from there is simply not profitable. Of course, "nature hates vacuum", and business will look for fresh channels to replace the 1 who left. China, the United arabian Emirates and Kyrgyzstan stay the main countries. But this will lead to an increase in commodity prices of at least 12% in the average term. And this isn't the end of trouble, The marketplace situation seems tense. According to any reports, the United States has already convinced Turkey to halt re-exporting goods to Russia through the free trade zone."

5. Gas prices in Europe have collapsed.

Gas prices in Europe have fallen to evidence low values for the first time since July 2021. Prices fell due to warm weather, large deliveries and abundant LNG supplies from Qatar and the USA. But does this mean that the Old planet has overcome the energy crisis? Will Europeans not frost without Russian gas during the cold winter? What is the reason for the fall in prices and should a fresh wave of price increases be expected? Experts said "MK".

Kirill Dronov, Managing manager of Alfa-Forex:

"Since the EU has completely replaced natural gas from Russia, including LNG from the US and Asia, Europe is improbable to freeze. In any event, in our view, the EU energy crisis is no longer in danger, as the marketplace has full turned to another suppliers. Seasonal increases in natural gas prices are besides possible, but closer to winter. Additionally, most of the reserves in PMG facilities were saved. The reversal of the growth trend in the EU gas marketplace has already occurred in September-October 2022 and has been due to the elimination of forward positions after the panic surrounding the energy crisis has expired."

Remember that all articles are available first on https://EconomiaRussia.pl

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