Efforts to investigate financial crimes have been largely unsuccessful due to endemic corruption within the judiciary.
Balance of payments for 4Q19 suggests weakness in the current account and tells us that as much as $25bn of net portfolio inflows into local currency state bonds (OFZ) may be needed in 2020 in order to avoid ruble depreciation.
CEESE had a good year in 2019, with the economies in the region buoyed by increasing domestic consumption and capital spending that allowed the region to decouple from western Europe.
“We need an economic breakthrough,” declared Vladimir Putin back in December 2018, during his now legendary annual press conference. Acknowledging Russia’s gloomy economic outlook, the President forecast 1.8% growth in 2019, down from 2.3% the year
In 2018, Russia launched Chestny ZNAK, its first nationwide digital track & trace system, set to become the cornerstone of industrial digitalization. By 2024, the system is expected to cover most goods traded throughout the country