Russia’s Economic Ministry issues bleak economic stress test scenario
1 day ago
Bulgaria’s seasonally adjusted retail sales increased by 0.9% month on month in February, after rising by 0.3% m/m in January, statistics institute data showed on April 5. Year on year, retail sales increased by 3.2%, after falling by 0.1% in January (chart).
Bulgarian retail sales started dropping amid surging inflation caused by high fuel prices, and later returned to growth when fuel prices eased, to fall again due to economic crisis caused by high inflation and the Russian war in Ukraine.
Retail sales of food, beverages and tobacco grew by 10.3% y/y in February, after rising by 6.3% y/y in January. Sales of non-food products (except fuel) expanded by 3.7% y/y, after decreasing by 0.5% y/y in January. Automotive fuel sales decreased by 14% y/y in February, after falling by 13.2% y/y in the previous month.
Month on month, food sales increased by 2.8% and non-food sales increased by 1.4%, while fuel sales fell by 0.7% m/m.
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Russia’s Economic Ministry issues bleak economic stress test scenario
Russia's Finance Ministry ran an extreme stress test on the economy for this year that assumes zero growth, a weakening ruble and falling oil and gas revenues in the worst-case scenario.
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More abundant and cheaper gas this year creates opportunity for resumption of industrial activity in Moldova.
Russia’s CBR maintains key rate at 16%
The board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 16% at the policy meeting on April 26, making a third meeting in a row that the rate is maintained flat.
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