BOFIT BOFIT Weekly Yearbook 2005 Bank of Finland, BOFIT Institute for Economies in Transition BOFIT Weekly Editor-in-Chief Timo Harell Bank of Finland BOFIT – Institute for Economies in Transition PO Box 160 FIN-00101 Helsinki Phone: +358 10 831 2268 Fax: +358 10 831 2294 Email:
[email protected] Website: www.bof.fi/bofit The opinions expressed in this paper are those of the authors and do not necessarily reflect the views of the Bank of Finland. BOFIT Weekly – Russia headlines 2005 7.1.2005 BOFIT Weekly – Russia headlines 1/2005 Putin consolidated political power in 2004. Slow progress in structural reform of Russian economy in 2004. New legislation entering into force at the start of 2005. Russia to build pipeline to Sea of Japan. 14.1.2005 BOFIT Weekly – Russia headlines 2/2005 Russian inflation rate exceeds 2004 forecast. Current account surplus and outflow of private capital higher than expected in first three quarters of 2004. Government sets meat import quotas for 2005. Operating environment for small firms improves slightly. 21.1.2005 BOFIT Weekly – Russia headlines 3/2005 Rouble exchange rate drops in 4Q04. Stabilisation fund reaches 3 % of GDP at end-2004. Russia’s reform of social benefits in trouble. 28.1.2005 BOFIT Weekly – Russia headlines 4/2005 Russian economic growth expected to slow this year. Industrial output growth declined towards the end of 2004. Audit Chamber’s assessment of 1993–2003 privatisation outcomes awaits Duma discussion. 4.2.2005 BOFIT Weekly – Russia headlines 5/2005 Unexpectedly high GDP growth figure for 2004. Russia pays off the last of its IMF debts.