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Tag Archives: Economy

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Russia should rethink its export-driven economy – central bank

The Russian government should reconsider the way the nation’s export-dependent economy is functioning under the current circumstances, according to the country’s central bank governor Elvira Nabiullina. Speaking at the St. Petersburg International Economic Forum on Thursday, Nabiullina said that a “substantial part” of the country’s industry should work for the …

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France has entered ‘war economy’ – Macron

France will adjust its six-year military spending plan in the wake of the Russia-Ukraine conflict, President Emmanuel Macron announced on Monday. Macron said he instructed the government to “carry out a reassessment of the military spending program in the coming weeks, in the light of the geopolitical context.”  France “has entered into a …

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Hungarian PM makes grim warning about European economy

Hungarian Prime Minister Viktor Orban has warned about the devastating effects of an EU embargo on gas from Russia, which Brussels hopes to introduce eventually. Speaking on the conflict between Russia and Ukraine in a regular Friday interview with Kossuth Radio, Orban said, “the Hungarian government is almost the only …

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White House assesses state of US economy

American consumers may feel gloomy about the US economy, considering the rampant inflation, but its state is actually better than it was only a year ago, White House Press Secretary Karine Jean-Pierre claimed during her regular press briefing on Tuesday. She was commenting on the recent Wall Street Journal-NORC opinion …

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EU not considering Russian gas embargo – economy chief

Discussions in the EU regarding further sanctions on Russia over the military operation in Ukraine so far do not include a ban on Russian gas, European Commissioner for Economy Paolo Gentiloni has revealed. In an interview with Italian newspaper La Stampa published on Saturday, Gentiloni said that while no punitive …

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Strong ruble may pose risk to Russian economy – minister 

The ruble’s rapid gains may pose a risk to the country’s economy in the future, Economy Minister Maxim Reshetnikov told reporters earlier this week. “The current exchange rate is a problem in the long run, because the real effective exchange rate is 40% stronger than in the last five years,” …

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Russia not leaving global economy – Putin

President Vladimir Putin said on Thursday that Russia is not going to leave the global economic arena despite Western attempts to squeeze it out. It is simply impossible, he stressed. According to Putin, who was addressing the Eurasian Economic Forum via video link, the countries that are seeking to harm Russia …

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Russian economy to remain open – Putin

The Russian economy will “certainly remain open, even in the new conditions,” President Vladimir Putin said on Tuesday, stating that partnerships will be strengthened with amenable countries. “We will expand cooperation with those countries that are interested in mutually beneficial cooperation,” Putin said. He highlighted the importance of developing a …

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Global economy in worst shape since WWII — IMF

The global economy is facing “its biggest test since the Second World War”, the managing director of the International Monetary Fund said at the start of the World Economic Forum in Davos. Kristalina Georgieva said the conflict in Ukraine has “compounded the Covid-19 pandemic – a crisis upon a crisis …

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