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Igor Lipsits - 3 — - 2 KSE - 1 it's - 1 haven't - 1 Dmitry Peskov - 1 Steven Tian - 1 Tian - 1
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☆ Fact-Checking Kremlin's Claim That More Foreign Companies Remain in Russia Than Have Left
  + stars: | 2023-12-06 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +7 min
AdvertisementAfter Russia invaded Ukraine in February 2022, over 1,000 foreign companies announced they would exit Russia in protest against the war. "More foreign companies remain in Russia than those who left the country," Dmitry Peskov, a spokesperson for the Kremlin, told Business Insider in late October. 1: Data from Yale UniversityYale University runs an ongoing study that examines which foreign companies have left Russia since the war began. Here are their results as of November 21:KSE's data shows that most foreign companies have not left Russia. Russia is making it difficult for foreign companies to exitMany companies still operating in Russia are also stuck in the process of exiting the market.
Persons: KSE, —, it's, haven't, Dmitry Peskov, Steven Tian, Tian, Agathe Demarais, Igor Lipsits Organizations: Kremlin, Yale, Service, BI, Yale University Yale University, Kyiv School of, Kyiv School of Economics, University of St, Yale's, Leadership Institute, BP, Benetton, Unilever, Nestlé, European Council, Foreign Relations, Financial Times Locations: Russia, Ukraine, Gallen, Switzerland, Ukrainian, Russian
☆ The Russian economy is in bad shape, no matter what the Kremlin says: Russian economist
  + stars: | 2023-11-21 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
The "real situation" in Russia's economy is bad, Russian economist Igor Lipsits told Reuters. AdvertisementThe Kremlin has been painting a rosy picture of the country's economy even amid a swathe of Western sanctions — but "the real situation is bad," Igor Lipsits, a prominent Russian economist, told Reuters. Official rosy pronouncements on the Russian economy are not a good gauge of how the Russian economy is doing because authorities are just trying to make the Kremlin happy, Lipsits added. "A large part of the Russian population have very low wages," Lipsits told the news agency. Lipsits told Reuters he expects economic stagnation — at the very least — and a serious slump after the country's presidential election in March.
Persons: Igor Lipsits, —, Lipsits, Vladimir Putin Organizations: Reuters, Service, Business, HSE University Locations: Russian, Ukraine, Russia
☆ The wartime economy is making Russians hoard cold hard cash more than ever — the money in circulation reached a record $187 billion in June
  + stars: | 2023-08-08 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +4 min
In June, the amount of cash in circulation in Russia hit a record $187 billion, per its central bank. Russians are hoarding cold, hard cash amid economic uncertainty, an economist told Novaya Gazeta. Compensation to families of dead fighters and increased demand in Russian-occupied Ukrainian regions also add to the cash in circulation. In June, the amount of cash in circulation in Russia hit a record 17.9 trillion rubles, or $187 billion, data from the Russian central bank shows. To tame inflation, the Russian central bank its central bank raised interest rates by one percentage point on July 21 — double the 0.5 percentage point analysts polled by Reuters had expected.
Persons: Igor Lipsits, there's, Alexey Zabotkin, Wagner, Nikolay Korzhenevsky Organizations: Novaya Gazeta, Service, HSE University, RBC, Wagner Group, Bloomberg, Reuters Locations: Russia, Wall, Silicon, Russian, Ukraine, —, Kazakhstan, Russia's
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