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

Макроэкономические показатели

2018 (Dec. к Dec.)

Jan.-Sep. 2018

Jan.-Sep. 2019

Sep. 2018

Sep. 2019

CPI, %

4,3

2,5

2,3

0,2

-0,2

PPI, %

11,7

9,71

-2,61

0,21

0,61

Monetary base1, %

8,0

4,5

-0,9

0,0

0,4

USD/RUB real appreciation, %

-10,8

-13,2

3,6

-2,2

0,6

Real effective exchange rate, %

-7,0

-9,3

5,5

-2,4

1,0

1 As on the 1st day of the month

2 Narrow definiton.

3 Estimate.

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FEDERAL BUDGET EXECUTION

 

billion rubles

 

% of GDP

 

jan-aug 2018

jan-aug2019

aug 2019

 

jan-aug 2018

jan-aug2019

aug 2019

TOTAL REVENUES 12222,4 13256,7 1785,4 19,0% 19,2% 19,8%
Oil&Gas Revenues 5501,8 5407,5 624,6 8,5% 7,8% 6,9%
Others 6720,6 7849,2 1160,8 10,4% 11,4% 12,9%
TOTAL EXPENDITURE  10184,9 10694,7 1374,5 15,8% 15,5% 15,2%
Debt service 567,8 471,4 58,6 0,9% 0,7% 0,6%
Non-interest expenditure 9617,1 10223,3 1315,9 14,9% 14,8% 14,6%
BUDGET BALANCE 2037,5 2562,0 410,9 3,2% 3,7% 4,6%
PRIMARY SURPLUS(+)/DEFICIT(-) 2605,3 3033,4 469,5 4,0% 4,4% 5,2%
Gross Domestic Product, billion rubles1 64382,5 68957,4 9028,2        

1 Estimation.

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