ABOUT EEG

Economic Expert Group (EEG) is an independent Russian company, that specializes in consulting services on economic and financial policy issues to government officials on federal and regional level. Economic Expert Group was established in 1994 to render analytical support to the Department of Macroeconomic Policy of the Ministry of Finance of the Russian Federation. Since that time EEG has been working in close everyday contact with the Ministry of Finance and the Ministry of Economic Development and Trade. EEG provides Russian Government with analytical support at the negotiations with international financial organizations, Paris and London Clubs of creditors, international rating agencies, prepares monthly reviews of Russian economy, participates in monthly monitoring of Russian economy, carried out by the Ministry of Economic Development and Trade. On the Government orders EEG develops short-, medium-, and long-term macroeconomic projections, participates in the process of co-ordination of macroeconomic forecasts between official institutions (Ministry of the Economic Development and Trade, Ministry of Finance, Bank of Russia) and between the Government of Russia and the IMF in the process of discussing parameters of economic programs. EEG elaborated presentations of Russian economy for Offering Circulars of all issues of eurobonds of the Russian Federation.  


KEY ECONOMIC INDICATORS

Key Economic Indicators1

 

2019 (DEC. to DEC.)

Jan.-Apr. 2019

Jan.-Apr. 2020

Apr. 2019

Apr. 2020

CPI, %

3,0

2,1

2,1

0,3

0,8

PPI, %

-4,3

-1,02

-0,82

0,92

-1,42

Monetary base2, %

3,1

-2,9

10,3

2,3

5,0

USD/RUB real appreciation, %

7,6

4,5

-14.3

0,6

-0,6

Real effective exchange rate, %

8,1

5,1

-11,0

1,2

0,1

1 Sources: Rosstat, Bank of Russia, Federal Treasury, Ministry of Finance of Russia

2 As on the 1st day of the month

 

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FEDERAL BUDGET EXECUTION

 

billion rubles

 

% of GDP

 

jan.-mar.2019

jan.-mar.2020

mar.2020

 

jan.-mar.2019

jan.-mar.2020

mar.2020

TOTAL REVENUES

4590,0

4731,3

1912,4

 

18,7%

19,3%

23,0%

Oil&Gas Revenues

1993,3

1787,9

563,7

 

8,1%

7,3%

6,8%

Others

2596,8

2943,4

1348,8

 

10,6%

12,0%

16,2%

TOTAL EXPENDITURE 

3924,1

4618,0

1635,8

 

16,0%

18,8%

19,7%

Debt service

158,8

171,4

78,1

 

0,6%

0,7%

0,9%

Non-interest expenditure

3765,3

4446,5

1557,7

 

15,4%

18,1%

18,7%

BUDGET BALANCE

665,9

113,4

276,7

 

2,7%

0,5%

3,3%

PRIMARY SURPLUS(+)/DEFICIT(-)

824,7

284,8

354,7

 

3,4%

1,2%

4,3%

Gross Domestic Product, billion rubles1

24487,1

24532,0

8316,6

 

 

 

 

1 Estimation.

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