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Emerging Market Economist, Emerginomics

Tatiana Orlova

Emerging Market Economist

Emerginomics

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

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<p>With the trading war raging between the US and China in the background, Russia is pressing on with an ambitious infrastructure development plan approved earlier this year. Russia is integrating its road and railway infrastructure into the network of new transportation links emerging across and around the Eurasian continent. The plan neatly dovetails with the Belt and Road Initiative promoted by China. By the end of the current presidential term in 2024, the government plans to inject an equivalent of USD 0.4trn into the economy. </p>
<p>The US Congress is poised to consider draft bills targeting Nord Stream II and Russian sovereign debt. If approved, sanctions aimed at sovereign debt would restrict Russia's ability to raise funds from Western investors via Eurobonds or infrastructure bonds. To finance some of the projects, Russia may use windfall budget revenues accumulated due to its prudent fiscal policy. However, given the sheer scale of the plan, they are unlikely to suffice. If the Chinese economy slows down in the coming years, Russia may not be able to raise the financing from China it may be hoping for. </p>
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With the trading war raging between the US and China in the background, Russia is pressing on with an ambitious infrastructure development plan approved earlier this year. Russia is integrating its road and railway infrastructure into the network of new transportation links emerging across and around the Eurasian continent. The plan neatly dovetails with the Belt and Road Initiative promoted by China. By the end of the current presidential term in 2024, the government plans to inject an equivalent of USD 0.4trn into the economy. 
The US Congress is poised to consider draft bills targeting Nord Stream II and Russian sovereign debt. If approved, sanctions aimed at sovereign debt would restrict Russia's ability to raise funds from Western investors via Eurobonds or infrastructure bonds. To finance some of the projects, Russia may use windfall budget revenues accumulated due to its prudent fiscal policy. However, given the sheer scale of the plan, they are unlikely to suffice. If the Chinese economy slows down in the coming years, Russia may not be able to raise the financing from China it may be hoping for. 


ロシアの第1四半期GDP成長率は前年比0.5%に低下。ロシアは低迷から脱却できるのか？