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SnapshotsJun 2, 2017 | 22:20 GMT
Russia: Despite Sanctions, Economic Summit Booms
For years, the St. Petersburg International Economic Forum (SPIEF) was a lackluster affair, hampered by the sanctions against Russia and the country's isolationist economic policy. But this year's conference has been unusually lively, marking the first time since 2014 that Western businesspeople have attended the event in any significant number.
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AssessmentsJul 18, 2016 | 09:45 GMT
Russia's Muslim Regions Turn to the Gulf for Help
Russia's Muslim Regions Turn to the Gulf for Help
As Russia's economy continues to stagnate, the country's 83 regions are being forced to compete with one another for outside investment to stay afloat. The quest for funding was a popular theme at the recent St. Petersburg International Economic Forum, where regional governments and corporations tried to woo foreign partners
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AssessmentsMar 11, 2016 | 09:00 GMT
In Russia, Defense Cuts Were Inevitable
Russia's worsening economic crisis has forced the Kremlin to make further budget cuts for 2016. Going into 2016, the federal budget was tightened in all ministries, except defense, in which spending was kept largely flat. But in January, the Finance Ministry ordered another 10 percent spending cut for all ministries
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AssessmentsFeb 23, 2016 | 10:15 GMT
Russia Can No Longer Afford to Buy Allies
Russia Can No Longer Afford to Buy Allies
Russia's limited financial resources continue to hurt its ability to comfortably operate as it has in the previous decade. High oil prices, and resulting energy revenues, were largely responsible for skyrocketing economic growth since Russian President Vladimir Putin's government took over in 2000. Prosperity enabled Moscow to spend liberally on
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AssessmentsJan 29, 2016 | 09:00 GMT
In Russia, State Firms Will Stay Public For Now
In Russia, State Firms Will Stay Public for Now
Moscow is once again taking a hard look at its finances during this period of prolonged economic woe, this time considering privatizing of some of Russia's large state-owned firms and entities. Such a plan could help cover the possible shortfall looming over the federal budget. Whether the government can overcome
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AssessmentsNov 3, 2015 | 09:15 GMT
Russia Prepares to Tighten Spending in 2016
Russia Prepares to Tighten Spending in 2016
After months of battles over the details in the Russian Cabinet and among the Kremlin elite, the Russian State Duma is currently debating the 2016 federal budget. The draft submitted to the Duma shows the Kremlin's priorities for the next year, as well as the constraints on Russia both internally
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