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

 

2023

Jan.-Feb. 2023

Jan.-Feb. 2024

Feb. 2023

Feb. 2024

CPI, %

3,6

-2,62

4,62

-2,62

4,62

PPI, %

7,4

1,3

1,6

0,5

0,7

Monetary base1, %

19,2

-0,92

-1,42

-0,92

-1,42

USD/RUB real appreciation, %

12,6

1,0

-3,1

2,1

0,0

Real effective exchange rate, %

-25,2

-10,5

-0,6

-5,3

-2,8

CPI, %

-24,7

-11,6

-0,1

-4,9

-2,4

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
  jan- may 2023 jan-may 2024 (preliminary)*
 
TOTAL REVENUES 9818,7 14289,5
 
Oil&Gas Revenues 2853,1 4951,0
 
Non Oil&Gas Revenues 6965,7 9338,4
of which
Value-Added tax 4367,9 5203,3
Profit Tax 688,3 915,2
Personal Income Tax 36,5 57,6
Excise Taxes 532,2 593,5
Import Duties 379,4 471,2
Others 961,3 2097,6
 
TOTAL EXPENDITURE  12848,3 15272,2
 
 
BUDGET BALANCE -3029,5 -982,8
 
 
 
Source: Ministry of Finance of the Russian Federation  
 
Notes:
* Preliminary data may be updated

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