Russia Macro monthly report for April 2017 prepared by Macro-Advisory Ltd in Moscow
Please find Russia Macro Monthly report for April 201, prepared by Macro-Advisory Ltd from Moscow. The report discusses how political optimism ignores growth limitations.
- Economy returned to growth in 4Q16.
- .1% budget deficit in February.
- Minimal investment growth in 2016.
- Retail sales far from recovery.
- Agriculture growth slow.
- Ruble stays stubbornly strong in March.
- Ruble Op-ed.
- Finance Minister tries to talk the ruble down.
- CBR reserves rise. Central Bank reserves rose to US$397 billion as at the end of February. Gold bullion accounted for 16.8% of this total.
- Day of anti-Medvedev demonstrations.
- Political fall-out from the demonstrations?
- Small widening of sanctions.
- Syria tensions. As we go to press, the longer-term fallout to the recent events in Syria is unknown.
- Equities rebound slightly in March.