Markets Actual Q2 Q3 Q4 Q1 2022
Currency 77.35 77.86 78.37 78.89 79.42 80.47
Stock Market (points) 3486.03 3441 3375 3311 3248 3121
Government Bond 10Y (%) 7.36 7.42 7.47 7.53 7.59 7.71

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 (%) -1.80 7.5 3.6 3 3.1 3.2
Unemployment Rate (%) 5.70 6.4 6.6 6.3 6 5.5
Inflation Rate (%) 5.79 4.6 4.1 3.8 3.7 4
Inflation Rate Mom (%) 0.66 0.3 0.3 0.4 0.3 0.3
Interest Rate (%) 4.50 5 5.25 5.5 6 6
Balance of Trade (USD Million) 8315.00 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 19.2 19.2
Government Budget (% of GDP) 1.80 -1.2 -1.2 -1.2 -0.5 -0.5
Business Confidence (points) -0.30 -2 -2 -5 -2 -1
Manufacturing PMI (points) 51.10 52.4 52.7 52.9 52.5 50.7
Services PMI (points) 55.80 54 53 52.3 52 51.7
Consumer Confidence (points) -21.00 -17 -13 -11 -9 -8
Retail Sales MoM (%) -1.90 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 (%) -1.80 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 20254 21582 24481 23369 24117
Gross Fixed Capital Formation (RUB Billion) 7225.30 3231 4188 4853 4837 4991
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) 952.10 420 647 1539 1487 1535
GDP From Construction (RUB Billion) 1912.70 702 1124 1465 1305 1346
GDP From Manufacturing (RUB Billion) 3275.90 2310 2638 2862 2888 2981
GDP From Mining (RUB Billion) 1836.40 1888 1828 2005 1752 1808
GDP From Public Administration (RUB Billion) 1661.30 1634 1791 1689 1699 1754
GDP From Transport (RUB Billion) 1339.10 1344 1270 1577 1394 1439
GDP From Utilities (RUB Billion) 633.00 618 515 488 464 479

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 5.70 6.4 6.6 6.3 6 5.5
Employed Persons (Million ) 70.80 71.1 71.4 71.6 71.9 72.2
Unemployed Persons (Million ) 4.24 4.7 4.8 4.7 4.5 4.4
Employment Rate (%) 58.60 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) 49516.00 51559 52957 59084 70594 72006
Wages in Manufacturing (RUB/Month) 46201.00 47089 46660 50219 47079 48020
Wage Growth (%) 0.10 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 (%) 5.79 4.6 4.1 3.8 3.7 4
Inflation Rate Mom (%) 0.66 0.3 0.3 0.4 0.3 0.3
Consumer Price Index CPI (points) 634.70 636 634 645 658 671
Core Inflation Rate (%) 5.38 4.5 4.5 3.2 3.3 3.5
GDP Deflator (points) 123.89 121 128 129 128 134
Producer Prices (points) 729.70 675 696 702 755 733
Producer Prices Change (%) 10.70 8 5 3 3.5 4.5
Food Inflation (%) 7.58 5.5 4.8 4 3.8 3.3

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 4.50 5 5.25 5.5 6 6
Interbank Rate (%) 4.90 5.37 5.87 8.48 6.37 6.37
Money Supply M2 (RUB Billion) 58178.20 61700 65000 67000 64500 68000
Foreign Exchange Reserves (USD Million) 573322.00 600300 610500 615500 619500 621000
Central Bank Balance Sheet (RUB Million) 49500246.00 52123000 52223000 52257000 53580000 55658000
Loans to Private Sector (RUB Million) 34008301.00 30534483 33943715 33879865 34130653 35222834
Deposit Interest Rate (%) 3.21 3.42 3.92 5.85 4.42 4.42
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Million) 8315.00 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) 20953.00 19300 20500 23900 21100 24100
Exports (USD Million) 29268.00 32000 35000 37000 35000 39000
Gold Reserves (Tonnes) 2298.53 2299 2305 2305 2305 2400
Crude Oil Production (BBL/D/1K) 9655.00 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 19.2 19.2
Government Budget (% of GDP) 1.80 -1.2 -1.2 -1.2 -0.5 -0.5
Government Budget Value (RUB Billion) -645.05 -800 -800 -850 -850 -850
Government Spending (RUB Billion) 4409.10 4185 4571 4163 4390 4531
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) -0.30 -2 -2 -5 -2 -1
Manufacturing PMI (points) 51.10 52.4 52.7 52.9 52.5 50.7
Services PMI (points) 55.80 54 53 52.3 52 51.7
Industrial Production (%) -3.70 3.5 2.5 2.3 2.8 3.4
Industrial Production Mom (%) -1.40 2.8 0.5 3.8 10 3
Manufacturing Production (%) -1.00 3.2 3.8 4 3.3 3
Capacity Utilization (%) 61.00 63 63 63 64 65
Car Production (Thousand Units) 127.60 135 125 130 135 140
Car Registrations 148676.00 178000 178000 185000 185000 185000
Leading Economic Index (%) -2.80 7 5.5 3.8 2.8 3
Mining Production (%) -7.10 2.5 1.5 1.7 4 5
Composite PMI (points) 54.60 54 53.8 53.2 52.4 52.1
Bankruptcies (Companies) 2467.00 3090 3090 3120 3120 3120
Corporate Profits (RUB Billion) 1359.40 5800 10350 14000 3300 15000

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -21.00 -17 -13 -11 -9 -8
Retail Sales MoM (%) -1.90 1.8 -0.2 18 8.3 17.5
Retail Sales YoY (%) -1.30 12 4.5 4.2 3.7 2.7
Consumer Spending (RUB Billion) 12722.30 11740 10117 12967 12043 12428
Consumer Credit (RUB Million) 20430479.00 18022085 19664627 15664963 20548060 21205598
Bank Lending Rate (%) 6.02 6.02 6.52 8.98 7.02 7.02
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) 5.50 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.