Category: Economics

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Financial News: Regional Economy Report: Economic Activity Growth Moderates

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In May and June, growth in production and consumption became more moderate. However, the situation was uneven across industries and regions.

More restrained dynamics of demand in the housing market reduced the launch of new projects in many regions of the country, furniture production in Central Russia and the Volga region decreased. At the same time, cargo turnover of the ports of the Far East increased again, the output of meat and dairy enterprises in the Urals and the North-West remained at a high level. In Siberia, after 2 years of growth, the volumes of paper and paper products production stabilized, including due to difficulties with export.

Special topics of this issue are the dynamics of import deliveries and stocks, the situation on the labor market, and the passenger car market.

Read more in the July report "Regional Economy: State University Comments".

Preview photo: Donat Sorokin / TASS

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Institutions Should Be More Responsible About Stock Investing

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia has developed Code of Responsible Investment for banks, insurers, management companies, NPFs and other institutional investors who place funds in equity instruments. The regulator suggests that they adhere to a number of principles that will increase the return on investment not only through effective management of the securities portfolio, but also through active interaction with issuers.

Institutional investors are currently little involved in the corporate governance of joint-stock companies. The Code requires them to be more actively involved in the life of issuers in order to improve the long-term prospects of companies – primarily to help increase their shareholder value. When investing, "institutionalists" should pay attention primarily to companies that have adopted strategy to increase shareholder valueIf such a document does not exist, investors can exercise their corporate rights and encourage the issuer to develop it.

Those who adhere to the Code are required to publicly report annually on their compliance with these principles.

Compliance with the principles of the Code will contribute to the development of the equity capital market and increase the capitalization of the Russian stock market.

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: What the trends say: Inflation is returning to target.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In June, the monthly growth of seasonally adjusted consumer prices slowed down, and in annual terms it was close to the inflation target. Inflation expectations of enterprises and the population decreased, and the growth of enterprise costs slowed. At the same time, price dynamics remain uneven across segments, and fixing inflation at the target level requires additional confirmation. A sustainable reduction in inflation to 4% and its stabilization at this level require maintaining tight monetary conditions for a long time.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Mass implementation of the digital ruble will begin on September 1, 2026

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The largest banks will have to be the first to provide their clients with the opportunity to use digital rubles: open accounts, make transfers, pay for purchases and services, and perform other transactions. Gradually, by September 2028, all banks will have this obligation. The corresponding law The State Duma adopted it today.

Trading companies that are clients of the largest banks and whose revenue for the past year exceeds 120 million rubles will also have to provide the ability to pay for goods and services in a digital form of the national currency from September 1, 2026.

Banks with a universal license and their clients — trading companies with annual revenue of over 30 million rubles — will have to start working with digital rubles from September 1, 2027. Other banks and sellers with revenue of less than 30 million rubles per year — from September 1, 2028. The obligation to accept payments in digital rubles will not apply to retail outlets whose annual revenue is less than 5 million rubles.

The law also sets the launch dates for a universal QR code based on the National Payment Card System (NSPK) solution. It will allow both buyers and sellers to significantly simplify the payment process without cards and avoid confusion when there are many QR codes at the checkout. The universal QR code can be used to access various payment options: the Fast Payment System, banking services or installment plans, and in the future, digital rubles. At the same time, the bonuses and discounts of the selected payment method are retained.

All banks must complete the preparation of their systems to work with the universal QR code by September 1, 2026. However, they can do it earlier if they wish.

NSPK will provide banks with a free universal QR code service. This will reduce their integration costs. The timeframes within which banks will be required to connect the universal QR code to sellers will be determined by the Board of Directors of the Bank of Russia.

Let us recall that digital rubles will be in circulation along with cash and non-cash. People will be able to create a wallet and use the digital national currency through the usual applications of banks connected to the digital ruble platform of the Bank of Russia. All transactions with the digital national currency for citizens will be free. The choice of whether to use digital rubles or not remains with the person.

Read more about the digital ruble on the website Bank of Russia.

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Guarantee system for IIS-3.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

A system of guaranteeing property on individual investment accounts (IIA) of the third type will appear in Russia. It will be possible to count on compensation for assets in the event of bankruptcy of the professional participant who was engaged in maintaining the account. Such law adopted by the State Duma.

The compensation fund will be formed from voluntary contributions of professional participants who work with IIS and have joined the guarantee system. The operator of the system will be the currently operating Federal Public-State Fund for the Protection of the Rights of Investors and Shareholders, which will be renamed the Individual Investment Account Guarantee Fund. It will determine the amount of contributions and will be responsible for payments.

An affected investor may apply to this fund if he/she has not received his/her assets in full within 6 months after the professional participant has been declared bankrupt and bankruptcy proceedings have begun. The maximum compensation amount is 1.4 million rubles for all accounts opened with the bankrupt.

The law defines the specifics of participation in the guarantee system, the procedure for the formation of the compensation fund and the investment of its funds, and also establishes requirements for the structure and powers of the governing bodies of the system operator.

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Annual inflation falls for fifth month in a row.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In June, annual inflation decreased to 9.4%. Seasonally adjusted monthly price growth was 4.0% in annual terms. Differences in price dynamics by groups of goods and services remained significant.

The monthly increase in food prices has decreased. The rate of increase in meat prices has decreased the most, while fruits and vegetables have become cheaper faster than the seasonal norm. The growth in prices for household and medical services has slowed somewhat, but remains high. Prices for non-food products, excluding petroleum products, have not changed on average.

Despite the decline, annual inflation in June was still significantly above the target. The Bank of Russia intends to return it to 4.0% in 2026 and keep it close to this level in the future.

For more details, read the Bank of Russia's information and analytical commentary "Dynamics of consumer prices".

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Marat Khusnullin visited Perm Krai on a working trip.

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

Deputy Prime Minister Marat Khusnullin visited Perm Krai on a working visit, where he met with the region's governor Dmitry Makhonin and inspected the construction site of the oncology center.

"The results of the Perm Krai team's work show that the region is not standing still, and is solving problems systematically. According to our "traffic lights", the region is consistently in the green zone in terms of meeting the indicators. It is one of the leaders in housing construction. Since the beginning of the year, 790 thousand square meters have been commissioned. Despite all the difficulties, I do not see any decline, and this is a very positive trend and an example for other regions. The region has long been engaged in updating the public utility infrastructure, paying attention to this. I ask you to maintain the pace, since today this is an important task facing the entire industry. There is good dynamics in road repairs – they are even ahead of schedule. Perm Krai remains one of the key regions that provide a significant contribution to the country's defense security. Thank you Dmitry Nikolaevich Makhonin and his team for their systematic and ongoing work," said Marat Khusnullin.

During the trip, the Deputy Prime Minister visited the construction site of the oncology center, which is being built in the Kama Valley. The project is being implemented in the format of a public-private partnership.

On an area of almost 70 thousand square meters, there will be a clinic for 450 visits per shift, 14 operating rooms and 32 intensive care beds, three ward buildings with 540 beds, a nuclear medicine unit with 10 “hot beds”, modern linear accelerators and diagnostic equipment, and a boarding house for 120 people.

At the moment, the construction of the boarding house building and the central block has been completed, and ventilation and electrical installation work is being carried out.

Perm Krai Governor Dmitry Makhonin emphasized that the new oncology center will be a unique medical facility. "In terms of scale and level of equipment, the new oncology center can be compared with federal centers operating in Moscow and St. Petersburg. The new oncology center will be designed to receive 14 thousand patients per year. 1.2 thousand doctors and medical personnel will work here. Thanks to this, we will be able to treat residents of Perm Krai and neighboring regions at the most modern level," Dmitry Makhonin noted.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Vitaly Savelyev held a working meeting with the Governor of the Vologda Region Georgy Filimonov

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

The participants discussed the prospects for modernizing the airport infrastructure of Vologda and the further development of air traffic in the region.

The project for the development of the Vologda airport infrastructure envisages an increase in the length of the runway from 1.5 thousand meters to 2.5 thousand meters, which will allow receiving larger class aircraft, modernization of the airfield infrastructure, and construction of a new terminal. The development of design and estimate documentation for the construction of the new airport complex will be completed this year.

The Deputy Prime Minister supported the proposals of the Governor of the Vologda Region Georgy Filimonov and his team to develop air traffic in the region.

"In accordance with the May decree of the President of Russia, by 2030 it is necessary to ensure the growth of aviation mobility of the population by 1.5 times compared to the level of 2023. The construction of a new airport will directly affect the growth of mobility of citizens and increase the tourism potential of the region. We support Georgy Yuryevich Filimonov in his work on the development of the transport complex of the region and are ready to provide further assistance in this," the Deputy Prime Minister noted.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Vitaly Savelyev held an extended meeting on the development of the unmanned aircraft systems industry

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

An extended meeting on the development of the unmanned aircraft systems industry was held at the Government Coordination Centre under the chairmanship of Deputy Prime Minister Vitaly Savelyev. The event was attended by representatives of the Ministry of Transport, the Ministry of Industry and Trade, the Ministry of Education and Science, subjects, as well as manufacturers of unmanned aircraft systems and their operators.

Participants presented up-to-date data on the production and use of advanced unmanned systems for various sectors of the economy, and discussed a number of opportunities that could contribute to the further development of the industry in terms of increasing production volumes and the use of UAS.

An important issue of stimulating the use of UAS at various levels remains the development of means of their identification and further integration of unmanned aircraft systems into the airspace. The introduction of a new class of airspace – H with the use of a simplified procedure for using airspace for the performance of flights of unmanned aircraft is at the final stage of development. In addition, a unified system for identifying unmanned transport is being created based on the state information system "ERA-GLONASS". The practical implementation of these solutions will create additional opportunities for opening the skies in the regions for the use of unmanned aircraft.

In 2024, the production volume of civil unmanned aircraft systems increased more than 2.5 times – from 6 thousand units to 16.4 thousand units compared to 2023. In total, there are currently more than 600 UAS and component manufacturers.

In addition, all participants of the meeting noted the importance of training personnel for UAS management, including the integration of veterans of the Air Defense Forces into civilian professions in the UAS industry. Thanks to the activities of the federal project "Personnel for Unmanned Aircraft Systems" of the national project "Unmanned Aircraft Systems", more than 10 thousand people were trained in 2024. This year, it is planned to train 5.6 thousand people. In total, about 68 thousand people are undergoing training under the programs of the Ministry of Education and Science, the Ministry of Education and the NTI Fund in various areas related to UAS.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Monitoring of enterprises: growth of business activity has slowed.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia's Business Climate Indicator (BCI) stood at 1.5 points in July, down from 3.0 points a month earlier. Current production and demand estimates, as well as short-term expectations, were below the June level. Business price expectations increased slightly after 6 months of decline. Companies' investment activity grew more slowly than in Q2 2025.

Read more in the July issue of the information and analytical commentary "Monitoring of enterprises".

Starting from this issue, the Bank of Russia will regularly publish data on the main indicators of enterprise monitoring by macroregions. In addition, survey data on types of economic activity and groups of enterprises in time series format are now available inData retrieval service (API).

Preview photo: Eric Romanenko / TASS

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.