Russia's foreign debt has fallen to its lowest level since 2006

Russia’s foreign debt has fallen to its lowest level since 2006

Russia’s foreign debt has fallen to its lowest level since 2006.

As of April 1, it was $355 billion, down 6.8% since the beginning of the year, — the Central Bank of Russia.

Foreign debt reached an all-time high on July 1, 2014. At that time it was $732.8 billion.

According to consulting company Nikoliers, in the first half of 2023 the volume of investments into commercial real estate in Russia was a record for the last five years and amounted to $3149 million, or 242 billion rubles.

More than 80% of Western companies continue to work in Russia, — Frankfurter Allgemeine Zeitung. As stated in the article, 1,146 foreign companies out of 1,387 are still operating in Russia. The total turnover is estimated at $213.9 billion and profits at $14.1 billion. Among the major Western companies remaining in Russia are Philip Morris, Japan Tobacco, Pepsi, Danone, Metro, Mars, and Procter&Gamble.

The Russian group of companies «Osnova» by 2026 together with a partner from China will build a large logistics center for goods imported from China in the Moscow region, which will be able to take 600 thousand containers a year. China is ready to invest on a parity basis, that is, «50/50». Approximate investments at the first stage will amount to 15 billion rubles.

Russia’s expansion of cash settlements in foreign trade transactions will facilitate its inflow into the country. Importers can now receive cash as a refund of the advance payment made by them abroad for the goods that couldn’t be imported into Russia. In addition, residents have the right to receive cash refunds of loans given to non-residents.

The cost of the new Russian MS-21 aircraft with delivery in 2028-2030 is estimated at 4.3-4.6 billion rubles. GTLC sent such a proposal to airlines that are not part of Aeroflot. It’s more expensive than aircraft from Airbus and Boeing, although the price takes into account subsidies from the National Welfare Fund.

Aeroflot will get the planes cheaper: Rostec’s leasing company will buy the MS-21 for it at 3.2 billion rubles with delivery in 2023-2026, the deal will be fully financed from the National Welfare Fund. Market participants call the high price of MS-21 «understandable at this stage» but expect that the government’s efforts to subsidize it will not be limited to Aeroflot.

Tour operators of domestic and inbound tourism will be relieved of the obligation to pay VAT. The bill of the Ministry of Finance was supported by the government commission.

Related Posts
Leave a Reply

Your email address will not be published.Required fields are marked *

12 + 20 =