Markets Actual Q2 Q3 Q4 Q1 2022
Currency 73.56 74.21 74.7 75.19 75.7 76.7
Stock Market (points) 3687.96 3570 3502 3435 3370 3239
Government Bond 10Y (%) 7.15 7.22 7.27 7.33 7.38 7.5

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.50 1.8 2.5 0.7 0.5 0.5
GDP Annual Growth Rate (%) -1.00 7.5 3.6 3 3.1 3.2
Unemployment Rate (%) 5.40 6.4 6.6 6.3 6 5.5
Inflation Rate (%) 5.50 4.6 4.1 3.8 3.7 4
Inflation Rate Mom (%) 0.60 0.3 0.3 0.4 0.3 0.3
Interest Rate (%) 5.00 5.5 5.5 5.5 6 6
Balance of Trade (USD Million) 10022.00 10100 12700 18600 13100 14900
Current Account (USD Million) 16800.00 14500 11400 13500 23500 16000
Current Account to GDP (%) 3.90 3.8 3.8 3.8 3.1 3.1
Government Debt to GDP (%) 14.60 18.5 18.5 18.5 17.9 17.9
Government Budget (% of GDP) 1.80 -1.2 -1.2 -1.2 -0.5 -0.5
Business Confidence (points) 0.00 -2 -2 -5 -2 -1
Manufacturing PMI (points) 50.40 52.4 52.7 52.9 52.5 50.7
Services PMI (points) 55.20 54 53 52.3 52 51.7
Consumer Confidence (points) -21.00 -17 -13 -11 -9 -8
Retail Sales MoM (%) 9.20 1.8 -0.2 18 8.3 17.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.50 1.8 2.5 0.7 0.5 0.5
GDP Annual Growth Rate (%) -1.00 7.5 3.6 3 3.1 3.2
GDP (USD Billion) 1699.90 1710 1710 1710 1778 1778
GDP Constant Prices (RUB Billion) 24995.50 21582 23506 25745 25770 26569
Gross Fixed Capital Formation (RUB Billion) 7225.30 4188 4865 7442 7449 7680
GDP per capita (USD) 12011.50 11000 11000 11000 11900 11900
GDP per capita PPP (USD) 27043.90 26200 26200 26200 26800 26800
GDP From Agriculture (RUB Billion) 952.10 647 1496 981 982 1012
GDP From Construction (RUB Billion) 1912.70 1124 1312 1970 1972 2033
GDP From Manufacturing (RUB Billion) 3275.90 2638 2905 3374 3377 3482
GDP From Mining (RUB Billion) 1836.40 1828 1762 1891 1893 1952
GDP From Public Administration (RUB Billion) 1661.30 1791 1709 1711 1713 1766
GDP From Transport (RUB Billion) 1339.10 1270 1403 1379 1381 1423
GDP From Utilities (RUB Billion) 633.00 515 467 652 653 673

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 5.40 6.4 6.6 6.3 6 5.5
Employed Persons (Million ) 71.00 71.1 71.4 71.6 71.9 72.2
Unemployed Persons (Million ) 4.10 4.7 4.8 4.7 4.5 4.4
Employment Rate (%) 58.70 58.7 58.9 60 60.3 60.5
Labor Force Participation Rate (%) 62.10 62.4 62.5 62.7 62.9 63.1
Productivity (%) 2.00 1.7 1.7 1.7 2 2
Wages (RUB/Month) 51229.00 52957 50096 70594 52202 72006
Wages in Manufacturing (RUB/Month) 46376.00 46660 46198 47079 47257 48020
Wage Growth (%) 2.00 1.6 1.7 1.9 1.9 2
Minimum Wages (RUB/Month) 12792.00 12792 12792 12792 12900 12900
Population (Million) 146.70 147 147 147 146 146
Retirement Age Women 55.50 56 56 56.5 56.5 56.5
Retirement Age Men 60.50 61 61 61.5 61.5 61.5

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 5.50 4.6 4.1 3.8 3.7 4
Inflation Rate Mom (%) 0.60 0.3 0.3 0.4 0.3 0.3
Consumer Price Index CPI (points) 638.30 636 634 645 658 671
Core Inflation Rate (%) 5.47 4.5 4.5 3.2 3.3 3.5
GDP Deflator (points) 123.89 121 128 129 128 134
Producer Prices (points) 221.50 198 204 206 229 215
Producer Prices Change (%) 16.00 8 5 3 3.5 4.5
Food Inflation (%) 6.55 5.5 4.8 4 3.8 3.3

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 5.00 5.5 5.5 5.5 6 6
Interbank Rate (%) 4.81 5.4 5.4 5.4 5.9 5.9
Money Supply M2 (RUB Billion) 58261.60 61700 65000 67000 64500 68000
Foreign Exchange Reserves (USD Million) 590476.00 600300 610500 615500 619500 621000
Central Bank Balance Sheet (RUB Million) 50061098.00 52123000 52223000 52257000 53580000 55658000
Loans to Private Sector (RUB Million) 34353225.00 33943715 33879865 34130653 35418175 35222834
Deposit Interest Rate (%) 3.25 3.71 3.71 3.71 4.21 4.21
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Million) 10022.00 10100 12700 18600 13100 14900
Current Account (USD Million) 16800.00 14500 11400 13500 23500 16000
Current Account to GDP (%) 3.90 3.8 3.8 3.8 3.1 3.1
Imports (USD Million) 25688.00 19300 20500 23900 21100 24100
Exports (USD Million) 35710.00 32000 35000 37000 35000 39000
Gold Reserves (Tonnes) 2298.53 2299 2305 2305 2305 2400
Crude Oil Production (BBL/D/1K) 9766.00 10500 10900 10900 11500 11500
Foreign Direct Investment (USD Million) 3886.00 5000 6000 7000 3000 9000

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 14.60 18.5 18.5 18.5 17.9 17.9
Government Budget (% of GDP) 1.80 -1.2 -1.2 -1.2 -0.5 -0.5
Government Budget Value (RUB Billion) 204.99 -800 -800 -850 -850 -850
Government Spending (RUB Billion) 4409.10 4571 4416 4541 4546 4687
Government Revenues (RUB Million) 5077663.30 34600000 34600000 35800000 35800000 35800000
Fiscal Expenditure (RUB Million) 5757870.60 16000000 25000000 37700000 37700000 37700000
Military Expenditure (USD Million) 64144.00 70000 70000 70000 70000 70000

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 30.00 30 30 30 30 30
Social Security Rate For Companies (%) 30.00 30 30 30 30 30
Social Security Rate For Employees (%) 0.00 0 0 0 0 0

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 0.00 -2 -2 -5 -2 -1
Manufacturing PMI (points) 50.40 52.4 52.7 52.9 52.5 50.7
Services PMI (points) 55.20 54 53 52.3 52 51.7
Industrial Production (%) 1.10 3.5 2.5 2.3 2.8 3.4
Industrial Production Mom (%) 12.20 2.8 0.5 3.8 10 3
Manufacturing Production (%) 4.20 3.2 3.8 4 3.3 3
Capacity Utilization (%) 61.00 63 63 63 64 65
Car Production (Thousand Units) 146.50 135 125 130 135 140
Car Registrations 151964.00 178000 178000 185000 185000 185000
Leading Economic Index (%) 0.50 7 5.5 3.8 2.8 3
Corporate Profits (RUB Billion) 3116.10 5800 10350 14000 3300 15000
Composite PMI (points) 54.00 54 53.8 53.2 52.4 52.1
Bankruptcies (Companies) 2467.00 3090 3090 3120 3120 3120
Mining Production (%) -5.60 2.5 1.5 1.7 4 5

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -21.00 -17 -13 -11 -9 -8
Retail Sales MoM (%) 9.20 1.8 -0.2 18 8.3 17.5
Retail Sales YoY (%) -3.40 12 4.5 4.2 3.7 2.7
Consumer Spending (RUB Billion) 12722.30 10117 12113 13104 13117 13523
Consumer Credit (RUB Million) 20718869.00 19664627 19995627 20548060 21361154 21205598
Bank Lending Rate (%) 5.94 6.39 6.39 6.39 6.89 6.89
Gasoline Prices (USD/Liter) 0.64 0.6 0.57 0.58 0.51 0.49

Housing Actual Q2 Q3 Q4 Q1 2022
Housing Index (%) 8.00 4.2 4.2 3.6 3.6 3.6
Construction Output (%) 0.00 1.5 2.8 3.5 3.8 4.2
Housing Starts (Million Sq Meter) 6.60 5 4.2 4 3.5 3.8
Home Ownership Rate (%) 89.00 85.5 85.5 85.5 85 85


This page has economic forecasts for Russia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Russia economy.