Russia readies itself for investors as Economic Forum looms

by 22 May, 2018

 

From the 24th to the 26th of May, Russia will play host to leaders including Emmanuel Macron and executives from the business world for the St. Petersburg International Economic Forum. Investors with an interest in Russia’s equity market should keep an eye on proceedings, as any hint at new foreign investment and closer ties between Russia and the West could boost the Ruble and Russian stocks.

The country has been under heavy economic sanctions from the West since its incursion into Crimea in 2014 (and these were increased in light of its backing of the Assad regime), but appears to have weathered the storm, having boosted its domestic economy due to import substitution.

The Economic Forum will be a chance for Putin to play up Russia’s economic prospects in an effort to boost foreign investment into the increasingly politically isolated country.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (the $10 billion sovereign wealth fund), is bullish on Russia’s economic prospects. He said: “The doomsday predictions of Russia’s international isolation or collapse of the Russian economy have failed. The economy has adapted itself to sanctions”.

Indeed, Russia’s economy did grow 1.5% in 2017, while rising oil prices in 2018 brought an additional $49 billion to the Russian state budget. Perhaps things are looking up after all?

Want to learn more about the markets and how to become a better investor?

Download the Invstr App now.

All emails include an unsubscribe link. You can opt-out at any time. ​See our privacy policy.

Download on the App Store           Download on Google Play

ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

Share This