Russian press to ☕12.05.2023

ekonomiarosji.pl 2 years ago

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I invitation you to a subjective review of the Russian press that I hope will aid you..

Kommersant

1..Russian Ministry of abroad Affairs blocks the nancial resources of the Polish embassy in Moscow.

The authoritative typical of the Russian MFA Maria Zacharowa explained that since the diplomacy applies to reciprocity, the Polish embassy in Moscow lost access to its funds in Russian banks. According to her, this is an answer to blocking Russian embassy accounts in Warsaw.

Commenting on the fact that the Polish prosecutor withdrew funds from the Russian embassy accounts and the commercial mission in Warsaw, Zacharowa pointed out that Russia would "continue to get legal justice". "At the same time, as the rule of reciprocity applies in diplomacy, the Polish embassy in Moscow besides has no access to its funds in Russian banks. We besides let the anticipation of applying asymmetric measures in consequence – she stressed.

10 May ‘ Republic of “ reported that the Polish prosecutors took over nearly PLN 800 1000 and over $912,000 (totaling about $1.2 million) previously blocked on the bank accounts of the Russian embassy and the commercial mission. Poland considered these measures as evidence and transferred them to its accounts.

2. Budget deficit increased by another trillion rubles in April

Despite the assurances of the Ministry of Finance that the implementation of the national budget ‘points to gradual standardisation’ and ‘generally meets the parameters of the budget bill’, its own heavy truncated statistic do not confirm this yet. Judging from the figures published by the ministry, in April alone the budget deficit was over 1 trillion rubles. This year it was only higher in January (1.65 trillion rubles), which was considered an anomaly due to an highly active advance of part of the contracted expenditure. Overall, in the 4 months of 2023, the budget deficit has already increased to 3,424 trillion rubles, which is more than an yearly plan for this indicator of 2,925 trillion rubles. As shown in the chart, for 5 years the budget after the first period of the year, including the past, in the first year of Russian military operation in Ukraine, was always in surplus.

Revenue in January-April amounted to 7,782 trillion rubles, or 2.252 trillion, or 22%, little than a year ago. We remind you that the situation with oil and gas income is invariably bad. Now it is minus 52% compared to last year – 2,282 trillion rubles. In April, these revenues fell somewhat compared to March and did not scope the basic level required by the authorities to cover expenditure. With income outside oil and gas (5.5 trillion rubles), the situation is better – plus 5% compared to the erstwhile year. But specified an increase within the limits of inflation was provided by the main Russian VAT. His receipts for 4 months (including the home taxation and the import tax) amounted to 3,439 trillion rubles, which is 11% more year per year.

ISLAND

3. The Russians bought yuan in April for 54.2 billion rublesand

The increase in the share of Chinese currency – yuan – is visible both in the export and import structure as well as in abroad exchange flows in the stock and out-of-the-box markets. As noted in the study of the Central Bank of the Russian Federation of 11 May, in the face of the weakening of the ruble, Russian citizens continued to buy yuan.

The Russians bought it in April for 54.2 billion rubles (in March purchases amounted to 41.9 billion rubles).

In addition, citizens sold a "toxic" currency (bolaras and euro) for 61.7 billion rubles (in March it was purchased for 79.9 billion rubles). According to the Central Bank, the marketplace share of "toxic" currencies fell to 62.3% as a consequence of a fall in the volume of euro transactions (from 23.5 to 17.8%). It should besides be noted that yuan is besides a leader in Russia's operations in abroad trade.

"Among the currencies of friendly countries, Chinese yuan has become the most desirable currency in export-import operations. From March 2022 to March 2023, Russian exporters increased the volume of monthly yuan transactions from 0.5 to 6.9 billion dollars, and importers from 1.4 to $7.7 billion.

Since January, the value of yuan in ruble equivalent has increased almost 20%.

MK RU

4. Economist Nikolaev predicted the sad destiny of indexing pensions due to the budget deficit

This year, the Ministry of Finance's monthly reports on budget deficit parameters turned into a kind of ritual horror, inevitable as the summertime control off of hot water in residential buildings. And now Anton Siwanov's department has published a "provisional" information that gives serious origin for concern: during the January-April period, the government's deficit amounted to 3.4 trillion rubles, exceeding the year-round amount of 2.9 trillion rubles.

“The situation is truly worrying,” says Artem Deev, head of the analytical department at Amarkets. "The Ministry of Finance expected a deficit of 2% of GDP this year, but we have already exceeded these figures by 843 billion rubles. For the time being, this is compensated, according to the budgetary rule, at the expense of the National Social Benefits Fund.

Events are developing according to a script that is frankly unfavourable to us, says Igor Nikolaev, the chief investigator at the Institute of Economics of the Russian Academy of Sciences. It is very hard to mitigate the effects of a 45 % collapse in oil and gas revenues during the period January-March.

This year, the budget deficit will be partially compensated by KFM and national credit, but the pace of its growth predicts major problems in 2023. You may not be cutting social transitors, but we should not wait for the value of pensions and salaries, as well as disposable payments and another social assistance measures.

Remember, all articles are available first on https://EkonomiaRussia.pl

RBC

5. Putin has ordered the Russians to cut the Russian out of the country.

President Vladimir Putin signed a decree to change the concept of migration policy for the years 2019-2025. According to the concept, it appears that the authorities should make attractive financial, social "and another mechanisms to preserve human capital and reduce the outflow of the population" in Russia.
This is essential as the migration flows of the population intensified in 2022 “under the influence of changed socio-economic conditions”.

6. The EU proposes to halt the supply of oil from Russia through the North Druzba thread

UThe European Parliament proposed to suspend supplies of Russian oil by the northern strand of the relationship pipeline to all countries, thereby cancelling the exception for Germany and Poland, who were allowed to proceed shopping. Bloomberg writes about it , citing confidential papers to which the editorial board reached.

Berlin and Warsaw themselves have already stopped buying oil from Moscow, fulfilling their commitments to reduce dependence on Russian energy resources. If a complete ban on the northern leg is approved, it will mostly be a symbolic decision. Exceptions will stay in force to enable the Czech Republic, Slovakia and Hungary to receive Russian oil with the confederate thread.