A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 180 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 81 countries worldwide, and 186 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, Spanish – t.me/RoscongressEsp and Arabic t.me/RosCongressArabic. Official website and Information and Analytical System of the Roscongress Foundation:roscongress.org.

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Digital Ruble: Opportunities and Options

The challenge of the possibility of issuing a Central Bank Digital Currency (CBDC) has attracted increasing attention from many Central Banks around the world over the past two or three years. By early 2020, according to a survey by the Bank for International Settlements (BIS), this or that type of work on the CBDC — from potential studies to pilot projects — was carried out in four out of every five Central Banks in the world, which together account for 75% of the world’s population and 90% of global output. By mid-2020, according to the BIS, at least 36 central banks, including the Bank of Russia, published analytical papers on their CBDC studies. Testing of the national digital currency has been completed in three countries (Ecuador, Uruguay and the Ukraine), and pilot projects are underway in six more countries, including China, South Korea and Sweden.

The Bank of Russia’s Digital Ruble advisory report presents possible options and ways to implement such a solution, as well as the necessary functional requirements. Taking into account that the introduction of the digital ruble will become a significant event for the economy and society, the Bank of Russia considers it crucial to discuss key aspects, advantages, possible risks, stages and terms of this project with the financial sector, expert community and all interested parties.

The full text of the article is available at the link: https://econs.online/articles/regulirovanie/tsifrovoy-rubl-vozmozhnosti-i-varianty/

For more information about construction as a sector with a sizeable share in many economies, rising level of digitalization, and shifts in consumer sentiment in real estate, please see the Monetary policy, Digitalization and Financial market.

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