The current account surplus will likely remain below $40 billion this year, despite oil prices rising 20% from 2016. The import substitution policy, p
Long-awaited economic strategy plan limits its focus to the fiscal agenda. Kudrin argues that Russia must increase "productive" spending and limit the
Our estimates suggest that last year's failed coup attempt has reduced output by as much as 4%. The recovery has been very strong, however, mainly due
The US extended existing sanctions on Russia, and imposed new ones, in August, affecting oil, gas, railway, and banking sectors, further limiting acce
The central bank may decide to wait on another interest rate cut until later this year, as weaker ruble feeds into inflation expectations and will lik
Higher oil prices will likely help narrow the fiscal deficit to 3% of GDP this year from 3.7% in 2016. The break-even oil price was decreasing from a
The Euro zone is a unique opportunity to examine Phillips curves at the country level. We examine for which countries within the Euro zone the Phillip