Russian budget plans for both resilience and growth

2018 ◽  
Keyword(s):  
Growth And Development ◽  
Oil Prices ◽  
National Strategy ◽  
External Funding ◽  
Sovereign Wealth Fund ◽  
Content Type ◽  
Supply Disruptions ◽  
Funding Sources ◽  
Additional Funding ◽  
Vladimir Putin

Significance The budget earmarks additional funding for a six-year 'national strategy' for growth and development, yet still envisages a surplus in each of the next three years and an expansion in the sovereign wealth fund. The document needs to be passed in one more reading before it goes to President Vladimir Putin for final sign-off, but amendments are likely to be minor. Impacts Privatisation has been shelved; a budget note refers to just 13 and 11 billion dollars in 2019 and 2020 from selling off state assets. Conservative spending plans should reduce US sanctions risks; reliance on external funding sources is low and likely to diminish further. If sanctions on Iran or other supply disruptions drive oil prices higher, the budget surplus should grow further.

A new OPEC+ deal would not resolve Russia's problems

2020 ◽  
Keyword(s):  
Saudi Arabia ◽  
Middle East ◽  
Growth And Development ◽  
Oil Prices ◽  
Economic Conditions ◽  
Content Type ◽  
Funding Sources ◽  
Global Demand ◽  
Price Management ◽  
Price War

Significance As the COVID-19 pandemic depressed Chinese and global demand for oil, Russia and Saudi Arabia broke off their three-year price management agreement, sending prices tumbling. Moscow insists it can weather the storm, but low oil prices further complicate the adverse economic conditions stemming from COVID-19. Russia has the funding sources to prop up its budget, but this implies abandoning ambitious plans to invest in growth and development. Impacts The disintegration of OPEC+ would undermine Russia's wider attempts to win political partners in the Middle East. Kazakhstan and Azerbaijan signed up to OPEC+ but are less willing or able to side with Russia in a price war. Rosneft's divestment of its Venezuelan assets shows a greater sensitivity to sanctions risks in a tougher market.

Prospects for Russian economy in 2016

2015 ◽  
Keyword(s):  
Oil Prices ◽  
Military Power ◽  
Content Type ◽  
Russian Economy ◽  
Global Events ◽  
Vladimir Putin

Subject Prospects for Russian economy in 2016. Significance Russia's economy in 2015 has continued to be plagued by low oil prices that hovered under 50 dollars per barrel, and Western sanctions over Moscow's actions in Ukraine. As the Syrian intervention has shown, President Vladimir Putin is still intent on using Russia's military power to influence global events and also possibly to deflect domestic attention from Russia's economic plight.

El Salvador majority to ease external funding access

2021 ◽  
Keyword(s):  
Interest Rates ◽  
Private Consumption ◽  
Separation Of Powers ◽  
Oil Prices ◽  
Economic Recovery ◽  
External Funding ◽  
National Unity ◽  
Checks And Balances ◽  
Content Type ◽  
Low Interest Rates

Significance The five seats obtained by its allies, the Gran Alianza por la Unidad Nacional (Grand Alliance for National Unity) will cement the majority further. This concentration of power will improve the government’s ability to implement policies, but may jeopardise El Salvador's separation of powers and political checks and balances. Impacts Concerns about democratic and media freedoms may increase as Bukele strengthens his position. Prices will pick up this year, fuelled by recovering demand, higher oil prices and low interest rates. Remittances will remain resilient on the back of US economic recovery, supporting strengthening private consumption.

Russian leaders will clear obstacles to election win

2016 ◽  
Keyword(s):  
Economic Crisis ◽  
Oil Prices ◽  
Single Issue ◽  
Content Type ◽  
Parliamentary Elections ◽  
Income Levels ◽  
Lower House ◽  
Second Year ◽  
Vladimir Putin ◽  
Ruling Party

Subject Managing the parliamentary elections to ensure a win for the ruling party. Significance Elections to the lower house of Russia's parliament, the State Duma, take place in September in what is likely to be a second year of recession. The last elections similarly followed a period of economic crisis, and popular discontent translated into protests in Moscow. This time, conditions are similar, although President Vladimir Putin continues to score well in popularity ratings, owing in large part to an upswing in patriotic feeling driven by Russia's actions in Ukraine and Syria. Impacts United Russia will be bankrolled so that it can outspend the opposition even if its messaging is lacklustre. With global oil prices remaining soft, the economy will struggle and low personal income levels will dent support for United Russia. The major protest risk is that the scattered activities of opposition and single-issue groups begin to coalesce into a larger movement. As the Ukrainian conflict is not such a live issue, there will be less scope for rallying patriotic nationalist resentment around it.

Russia to woo South-east Asia amid West's hostility

2016 ◽  
Keyword(s):  
East Asia ◽  
Oil Prices ◽  
South East Asia ◽  
Content Type ◽  
China And India ◽  
Democratic Regimes ◽  
Vladimir Putin

Subject Russia's ties with South-east Asia. Significance Russia is renewing ties with South-east Asia primarily to counter falling oil prices, Western sanctions and European moves to reduce dependence on Russia, especially its gas. Yet there are signs that Russia's new interest in the region is also an attempt to regain some of the influence it once held in South-east Asia. Impacts Moscow's 'no-political-strings' approach appeals to non-democratic regimes, especially in Thailand, Cambodia and Vietnam. Medvedev will manage South-east Asia ties, while President Vladimir Putin handles the heavyweights -- China and India. Russia risks alienating China by building South-east Asia's naval capabilities.

Oil prices will squeeze Russian budget spending

2016 ◽  
Keyword(s):  
Interest Rates ◽  
Capital Investment ◽  
Oil Prices ◽  
Content Type ◽  
Access To Credit ◽  
Eurasian Economic Union ◽  
The Media ◽  
The Government ◽  
Fixed Capital Investment ◽  
Vladimir Putin

Subject The government's scramble to revise its budget. Significance Prime Minister Dmitry Medvedev has ordered ministries to cut spending further, the government's website announced on January 15. The reductions will be "significantly more drastic" than in previous years, he said. The media reported earlier that the government was planning to cut 10% from the budget expenditure that parliament approved in November and President Vladimir Putin signed into law in December. Impacts Continuing low oil prices will be the main obstacle to a balanced budgetary policy beyond 2016. Reduced fixed capital investment and limited access to credit due to high interest rates will hamper a return to growth. Domestic economic problems will continue to depress trade with other former Soviet states, especially those in the Eurasian Economic Union.

Russia faces twin hits from COVID-19 and cheap oil

2020 ◽  
Keyword(s):  
Banking Sector ◽  
Oil Prices ◽  
Content Type ◽  
Regulatory Changes ◽  
Rapid Spread ◽  
Additional Funding ◽  
Capital Outflows ◽  
The Rich ◽  
The Government ◽  
To Receive

Significance The steep fall in global oil prices and rapid spread of COVID-19 have ended hopes of economic revival in 2020. The government has allocated 300 billion rubles (4 billion dollars) for immediate use, and Putin has announced hefty taxes on the rich to boost revenues. The Central Bank of Russia (CBR) has no plans for monetary expansion but will provide additional liquidity to the banking sector and relax regulations to encourage credit for badly hit industries. Impacts A temporary hike in inflation is expected due to ruble devaluation and possible price hikes on some products. The government will make regulatory changes to ensure food supplies. The deteriorating economic situation is likely to spur higher capital outflows. Poorer regions are likely to receive additional funding from Moscow.

Exploring the motivations of tourism social entrepreneurs

2016 ◽  
Vol 28 (6) ◽  
pp. 1137-1154 ◽  
Author(s):  
Ziene Mottiar
Keyword(s):  
Social Entrepreneurship ◽  
Design Methodology ◽  
Local Community ◽  
Positive Impact ◽  
National Strategy ◽  
Social Entrepreneurs ◽  
Content Type ◽  
Key Informant ◽  
Research Questions ◽  
Tourism Destinations

Purpose The purpose of this paper is to examine the motivations of social entrepreneurs. It explores the case of the Gathering in Ireland in 2013, when against a backdrop of recession, the national Government encouraged individuals and communities to organize events and invite the Diaspora to visit Ireland as a way of helping the country to revitalize. Some 5,000 events took place across the country during the year, and this paper examines this in the context of social entrepreneurship. Three research questions are posed: Who were these tourism and social entrepreneurs who organized events as a result of the Gathering? What motivated them to engage in these activities? Will this social entrepreneurship activity be maintained beyond 2013 and how has it been impacted by the Gathering? Design/methodology/approach The empirical research was conducted in two counties in Ireland, Co. Kerry and Co. Westmeath. The research tools used were key informant interviews, a survey of event organizers and focus groups. Findings Key findings show that the Gathering has resulted in the emergence of new social entrepreneurs, but it has also had a positive impact on those who had run their events before, as it made them be more strategic in the way they planned and ran their event and also resulted in them thinking about these events in terms of tourists rather than just the local community. They also developed new skills which will aid their future development. It is clear that social entrepreneurs can play a fundamental role in the development of tourism destinations, and this is an important topic for researchers in tourism to be concerned about. Originality/value The originality of this paper lies in the fact that it addresses the issue of motivation of social entrepreneurs and challenges us to think more about how these types of entrepreneurs identify the problem that they will address. Furthermore, this case shows that the motivation for such action can be prompted by a national strategy, rather than as the literature heretofore represented it as an innate motivation that materialized and developed within particular individuals.

US shale sector will grow cautiously

2021 ◽  
Keyword(s):  
Oil Prices ◽  
Energy Transition ◽  
Business Environment ◽  
Energy Sources ◽  
Content Type ◽  
Corporate Strategies ◽  
Value Growth

Significance With weaker oil prices possible next year, investors see better prospects in technologies and energy sources aligned with the green transition. While US shale output is set to grow, companies in the sector are likely to retain defensive corporate strategies. Impacts Divestment of non-core hydrocarbons assets by oil majors could provide opportunities for smaller shale players. The outlook for US oil services companies is improving but the business environment will remain very competitive. The shale sector is aware that investor perceptions of value growth are switching heavily towards energy transition technologies.

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