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05 January 2019

Russia only came 19th among the 25 countries in a survey on the effectiveness of public spending, a list composed by the experts from the Moscow-based academic think-tank Higher School of Economics (HSE). This poor result is a reflection of low efficiency of spending on administration and public health. Apart from Russia, the authors of the report reviewed other OECD and non-OECD countries, economically comparable to Russia.

20 December 2018

In December, the US currency dropped in value following the statement by the Fed chairman Jerome Powell who said that the interest rates are now just below the neutral range. Bankers observe such fluctuations with calm, albeit with concern: by the end of 2019, they reckon, the value of the US dollar will enter a downward trend for many years to come. As the Fortune100 billionaire and investor Ray Dalio affirms, the USD value will collapse by 30% due to the 'triple US deficit', which ultimately will lead to the inevitable: dollar will lose its status as the global reserve currency.

10 December 2018

Servicing the large deposits of third-country nationals and shell companies in Cyprus is over. The Cypriot Minister of Finance Harris Georgiades affirms that this sort of practice on the island contributed to the financial crisis in spring 2013.

05 December 2018

Russian taxes are growing nearly twice as fast as salaries. Analysts came to this conclusion after examining the fiscal charges paid by Russians over the past three years.

20 November 2018

Over the past three years, the CBR purchased a record amount of gold. As a result, Russia's gold reserves amounted to more than 2,000 tons, which is an equivalent of 17% of global reserves. At the same time, the Bank of Russia reduces investments in the US public debt. The central banks of other countries also started to invest more in gold, with its price sagging in August and rising again recently.

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