Sergey A. Zubov – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration, Сandidate of Economic Sciences, Associate Professor (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Owing to the Russian banking sector’s stability based on excess liquidity and high levels of capital, banks can step up corporate lending operations on the market. Overdue debts remain at a low level, while the debt on loans restructured because of the pandemic keeps growing and represents a potential credit risk.
Key words: Russian banking sector, corporate lending, Bank of Russia.
JEL-codes: D81, E58, G21, G38.
Sergey A. Zubov – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration, Сandidate of Economic Sciences, Associate Professor (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
In 2021, retail lending has been the most dynamically growing banking market segment spurring banking revenues growth. The worsening of loan portfolio quality was driven by rising inflation, stagnation of households’ real incomes and the epidemiological situation, which factors could not but cause the monetary authorities’ concern and make them take additional measures to cool the credit market in order to prevent a pickup in households’ debt burden and reduce market risks.
Key words: Russian banking sector, retail lending, debt burden indicator, macroprudential markups, Bank of Russia.
JEL-codes: D81, E58, G21.
Sergey V. Tsukhlo – Head of Business Surveys Department of the Gaidar Institute for Economic Policy, Candidate of Economic Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
In Q3 2021, the Russian industry demonstrated a high level of adaptation to the current economic environment. High estimates of demand by industrial enterprises largely contributed to the growth of Adaptation Index, as well as the availability of stocks of finished products and production capacity. The level of estimates of the financial and economic situation of enterprises remains high.
Key words: Russian industry, Industry Adaptability Index, demand, stock of finished products, stock of materials, output, stuffing, financial and economic situation.
JEL-codes: L16, L60.
Sergey P. Aukutsionek – Head of Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences, Candidate of Economic Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Andrey S. Yegorov – Senior Researcher of the Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences, Candidate of Economic Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Inessa A. Bachirova – Senior Researcher of the Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Stanislav V. Belyakov – Researcher of the Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
In July 2021, in general, there were no serious deviations from the indicators of the previous month or beyond the last few months. Nevertheless, it can be noted that the diffusion index of the order-book level decreased by 10 percentage points (p.p.), and the diffusion index of stocks of finished products increased by 12 p.p. At the same time, the share of enterprises that are not going to take new loans from banks in the next 3 months reached 63% – the highest value in two years.
Key words: Russia, industry, industrial enterprises, price level, wages, employment, output, investment, indebtedness to banks, order-book level, stocks of finished products, capacity utilization rate, financial situation, production restrictive factors.
JEL-codes: D22, D24, G31, L23, P23.
Marina A. Baeva – Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Maria O. Kazaryan – Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
The former republics of the USSR make a choice between European (EU) and Eurasian integration (EAEU), which leads to benefits and risks for all CIS+ countries (taking into account Ukraine, which actually suspended its membership and Georgia, which is currently not a member of organization), especially for Russia. The article provides a brief analysis of cooperation between Russia and some CIS + countries.
The article was prepared in the framework of execution of state order by RANEPA.
Key words: CIS, EAEU, European Union (EU), former republics of the USSR, regional trade agreements (RTA), cooperation.
JEL-codes: F1, F15, F52, L14, L24.
