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Bank of Russia does not rule out another pandemic wave, geopolitical shocks, $25 oil price

The regulator presented base-case, deflation, pro-inflation and risk scenarios of Russia’s mid-term economic development

© Alexander Shcherbak/TASS

MOSCOW, September 10. /TASS/. Russia’s Central Bank does not rule out another wave of the coronavirus pandemic and other shocks for the global economy, including intensified trade frictions and geopolitical tensions, in its risk scenario of the outlook for 2021-2023, in which it expects oil prices at the level of $25 per barrel, according to the draft of ‘Main areas of the single state monetary policy for 2021 and the period of 2022-2023’ released on Thursday.

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Russian economy may see 5-6% slump, Putin says

The regulator presented base-case, deflation, pro-inflation and risk scenarios of Russia’s mid-term economic development. In the base-case scenario, global economic recovery will be slow and insufficient for returning to the potential level of output that the economy is able to provide with full production utilization, by the end of 2023. Oil prices will stabilize at $50 per barrel by the end of 2022. Inflation in Russia will be close to 4% in case of soft monetary policy.

In the risk scenario, it is expected that together with another incidence rate growth, other shocks for the global economy are possible, such as intensification of trade frictions and geopolitical tensions, debt problems in certain countries and sectors. Despite the OPEC+ agreement, oil prices will plunge to $25 per barrel and will recover slowly to $35 per barrel by the end of the projected period.

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TASS has gathered the main information about the incident

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CIA station in Kiev targeted in recent Russian attack, military expert reveals

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Oreshnik test launch forces London to take a step back — Russian ambassador

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Airborne troops from Russia’s Battlegroup Dnepr wipe out enemy position in Kherson region

A Russian airborne crew hit the target by firing a 120-mm mortar gun on a Ukrainian temporary position

Drone attack triggers fire at fuel infrastructure facility in Russia’s Oryol Region

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Putin suggests Zelensky may flee abroad, says Russia would take him in

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Ukrainian lawmaker slams Zelensky for trying to bribe Slovak PM

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Biden signs bill to fund US government until March 14, 2025

The US Senate and House of Representatives approved the bill a day before

Possible arrival of new Russian envoy before Trump’s inauguration depends on US — diplomat

"However, since he is a very prominent and experienced diplomat, I think the host country should have no doubt that he will show a high level of professionalism and his efforts will aim to at least slightly improve bilateral relations," Russian Deputy Foreign Minister Sergey Ryabkov noted

NATO prepares for war with Russia, Moscow takes these risks into account — senior diplomat

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Kiev Mayor Vitaly Klitschko reported the fires in Solomensky and Shevchenkovsky districts

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Maximal costs of Nord Stream pipeline repair to be 633 mln euro

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Assad allegedly hands list of military targets over to Israel before leaving Syria — media

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Slovak PM to visit Moscow for talks with Putin, Serbian president says

"Robert Fico will travel to visit Putin as a European countries leader," Aleksandar Vucic said

Russia to invite World War II allies to next year’s Victory Day parade

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