Russia is addressing its trillion-rouble deficit by initiating a privatisation plan aimed at raising funds for the national budget, enabling firms to invest in infrastructure and cutting corruption. According to Igor Shuvalov, the country's first deputy prime minister, more than 5,000 companies – including ports and airports – may be converted into joint stock organisations. [...]

Russia's central bank will call in emergency loans in order to reduce pressure on the rouble and "rein in inflation", it has been reported. The bank wants to curb Russia's budget deficit with the move by directing the funds back to the government, according to Bloomberg. "There's still plenty of government money in the banks," [...]

The rouble is at risk of increased volatility because of unpredictable oil prices, according to Russia's Central Bank. With crude oil remaining the country's chief export, the bank issued the warning as it cut interest rates by 25 per cent – a move intended to stimulate lending. The cut to 10.50 per cent marks the [...]

A weaker rouble has been blamed for making foreign cars more expensive, but during August automobile sales in Russia experienced their smallest year-on-year fall in four months. Data from the Association of European Businesses (AEB) show that sales dropped 54 per cent last month. The organisation expects 1.4 million cars to be sold in Russia [...]

It is in the interest of Russia's economy and export firms that the rouble weakens in the short term, one of the country's mining tycoons has claimed. According to Reuters, Vladimir Potanin foresees "a collapse" if Russia's main suppliers of export revenue continue to cut back on investment as they have been doing. Commenting on [...]

A sharp drop in traffic for Russia's airline industry has been attributed to the weak rouble and rising unemployment. The country's Federal Aviation agency reported this week that there was a fall of 16.5 per cent in traffic during the six months to July. According to economic analysts, a weakening rouble and an increase in [...]

Russia is expected to report a budget deficit of around three trillion roubles this year, which will be the country's first budget deficit in ten years. According to Reuters, Russia's oil wealth funds dropped in value by $2.2 billion over the last month, falling to approximately $176.4 billion. The country's finance ministry revealed this week [...]

The fluctuations in the Russian rouble’s value have been a key factor in the 1H and 2A earnings post by companies this week under global standards. For about three months, the Russian rouble has been relatively steady at between 30.50 and 32 to the US dollar. By contrast, the rouble was as strong as 23.15 [...]

The Russian rouble is to strengthen over the medium terms, according to Anatoly Aksakov despite very different forecasts not long ago. The Russian bank lobbyist and parliament member stated earlier this month that the currency would devalue by 30-40 per cent in a move that attracted criticism from the Russian government. The backtrack from Aksakov [...]

Russia and China are looking into setting up a bilateral currency deal, aiming to settle their trade with the rouble and Chinese yuan rather than the dollar and the euro. According to senior government officials from the two countries, such a deal would see Russian banks encouraged to set up outlets in China and vice [...]