EXCERPT This is a demo that should work on L1RU and D1
New this week: October 13th: The government will extend for a year the higher tariff rates on imports of wine from unfriendly countries.
New this week: October 4th: A bill to halve the VAT rate on seeds for plants used in agriculture to 10% has been introduced
into the Duma.
According to estimates by the Ministry of Economy, Russia’s GDP expanded by 2.5% YoY in 8M23 and by 5.2% YoY in August 2023. The two key drivers of this recovery are rising output in the defense industry and strong domestic consumer demand.
New this week: October 1st: On this day, a March 2023 government ruling comes into force which prohibits the use of SWIFT for bank transfers inside Russia.
New this week: September 24th: The government has prolonged until the end of 2024 the higher limit of EUR1,000 for the import of duty free items by individuals.
New this week: September 15th: The Central Bank of Russia raised its key rate from 12% to 13%. It raised rates on August 15th from 6.5% to 12% in reaction to the sharp fall in the ruble.
New this week: September 7th: The Central Bank prolonged the limitations on banks selling cash FX to individuals, but removed the restriction that they could only sell cash that they had bought since April 2022.
The latest statistics show a strong GDP bounce in 2Q23 which was accompanied by a solid rise in growth rates in all major sectors of the economy.
New this week: August 25th: Reuters reported that the Russian government is demanding further discounts on the sale price of Western investors leaving Russia.