Russia: Summary Indicators
(Year averages unless specified otherwise)
|Real GDP (percent change)2||–13||–19||–12||–15|
|CPI(within-year percent change)3||144||2.318||840||215|
|Real wage (1987 = 100)4,5,6||119||86||90||83|
|Real ruble M2(within-year percent change)6||–19||–75||–43||–4|
|Enlarged government deficit (percent of GDP)7||16||21||7||9|
|Unbudgeted federal import subsidies||…||12||2||0|
|Seignorage (percent of GDP)5,8||…||26||12||6|
|Velocity of ruble broad money (end-year)9||1.6||6.4||10.5||10.9|
|Exchange rate against U.S. dollar5,10|
|Real (July 1992 = 100, rise denotes appreciation)6||…||75||156||282|
|Monthly real interest rate (end-year)11||–11||–15||4||–2|
|Dollarization ratio (end-year, in percent)12||17||41||29||29|
|Privatization (flow of firms privatized, thousands)||1||47||43||22|
|Share of private sector in recorded retail trade (in percent)||24||35||53||66|
|Privatized portion of apartments (end-year, in percent)13||0.5||8||25||32|
|Number of private farms (end-year, thousands)||49||183||270||279|
|Availability of foodstuffs (end-year, in percent)14||28||54||72||91|
|Domestic price of crude oil (end-year, in percent of world price)||…||20–25||40–45||30–35|
Official Goskomstat estimates.
Urban CPI for 1991–92, expanded CPI for 1993–94.
Abstracting from wage arrears.
Average of monthlies.
Using the CPI as a deflator.
Federal and local governments, plus extrabudgetary funds, plus unbudgeted import subsidies; average of quarterly ratios to GDP. For 1991, annual notional budget deficit (IMF 1992) over annual GDP.
Change in base money divided by GDP. The 1992 estimate is for June to December only.
Annualized December GDP divided by end-December ruble M2.
Rate quoted on Moscow interbank currency exchange.
End-year CBR refinance rate deflated by December CPI inflation.
Foreign exchange deposits with domestic banks over total M2 (since foreign exchange holdings in the form of cash or deposits abroad are excluded, this measure is downward biased).
Measured by the number of apartments.
Average proportion of main cities where items were available in state stores.