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

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, 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, and 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 5000 people working in Russia and abroad. In addition, it works in close cooperation with 162 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

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

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Oil dependence recovers along with Azerbaijan economy coming out of stagnation

According to ACRA estimates, the Azerbaijani economy is coming out of stagnation. This year, the economy will grow by 1.5%. The key drivers include recovering external demand for a basic export commodity and growing non-primary economy as a phenomenon of delayed activity. However, according to ACRA analysts, no significant growth drivers are expected to emerge until 2022, and the annual growth will be within 3.2%.

The regulator has managed to cap the inflation, which reached double-digit values in 2016 and 2017. The surge was caused by a shock in the exchange rate dynamics and a high level of import dependence. According to ACRA estimates, in 2018–2022, the inflation will be in range 4–6%, following the counter-cyclical regulatory policy and the end of the translation of the exchange rate shock into price formation.

Significant dependence of the economy on mineral resources remains the main risk. At the same time, the basic forecast scenario implies a low probability of worsening demand; the trade balance will remain positive, provided that price for Azeri Light is $45 per barrel or higher. In this case, manat will demonstrate stability; the probability of devaluation is low.

The share of mining sector in the industry of Azerbaijan is growing again. The recovery in industrial production has occurred solely due to growth in mining industries, and the share of manufacturing sector has fallen to 28% of the industrial production volume (63% in 1997). Negative dynamics of lending activity aggravates this trend.

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