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Soaring government spending, driven by the war in Ukraine, has pushed economic activity beyond levels many thought possible given the available supply of labour and capital. Yet…
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DOI: 10.1108/OXAN-DB287067
ISSN: 2633-304X
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Geographic
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Most of Russia’s hydrocarbon export revenues are generated from oil now that gas sales have collapsed. Ambitious state spending plans are based on oil revenues rising this year…
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DOI: 10.1108/OXAN-DB284811
ISSN: 2633-304X
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Record levels of defence spending have led to surging demand for inputs used to manufacture military equipment, driving up output across various sectors. However, evidence of…
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DOI: 10.1108/OXAN-DB285498
ISSN: 2633-304X
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Geographic
Topical
The economy has recovered somewhat from the one-third contraction in 2022 caused by Russia's invasion. Government spending, mainly on defence, dominates but agriculture has…
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DOI: 10.1108/OXAN-DB283880
ISSN: 2633-304X
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Separately, the head of Samsung Electronics -- the cornerstone of the Samsung Group, which contributes around 20% of South Korea’s GDP -- has been cleared of wrongdoing in a…
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DOI: 10.1108/OXAN-DB285352
ISSN: 2633-304X
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Geographic
Topical
The ban will be extended by the end of the year to include diamonds polished in third countries, lab-grown diamonds, as well as jewellery and watches containing diamonds. The new…
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DOI: 10.1108/OXAN-DB285470
ISSN: 2633-304X
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Geographic
Topical
The invasion of Ukraine is causing strains in Russian society to show, with opposition to another mobilisation and rising appetite for peace talks. The economy is overheating in…
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DOI: 10.1108/OXAN-DB284997
ISSN: 2633-304X
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However, although output has grown, a tight labour market and persistent inflation have created new problems. The reorientation of trade away from Europe has resulted in a…
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DOI: 10.1108/OXAN-DB285374
ISSN: 2633-304X
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Geographic
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Banking sector profitability surged from RUB199bn (USD2.2bn) in 2022 to around RUB3.3tn in 2023. Rising profitability was generated by robust credit expansion, lower loan…
Strong household demand, now restored to pre-war levels, mitigated the impact on GDP of falling exports last year. The consumer market is profoundly changed, with new brands from…