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4.4 Fixed investment
Russia -Fixed capital investment 2012 2013 2014 2015 2016 2017 Mar-2018
Investment (% of GDP)
24.3 22.9 22.0 21.4 22.5 23.5 15.3
GDP: Gross fixed investment capital formation (USD mn)
471,337 496,982 428,573 276,240 280,350 342,294 58,303
source: CEIC
The Russian government will launch a special Institute of Investment Defence and Facilitation Agreements (SZPK in Russian), Vedomosti daily reported on October 8 citing the announcement of Mikhail Mishustin to the cabinet.
SZPK's main goal is to guarantee that conditions of large investment project remain fixed and unchanged.
Reportedly, investors would be able to make trilateral agreements between SZPK and the Ministry of Economic Development in order to guarantee fixed investment conditions over a long-term horizon.
SZPK would also monitor the compliance of investment deals with various support mechanisms, such as tax breaks, compensations, discounted interest, and others.
Under the new investment mechanism the government plans to sign over 20 deals worth RUB900bn by the end of 2020, and at least 1,000 deals worth RUB14.1 trillion by 2024.
4.5 Labour and income
4.5.1 Labour market, unemployment dynamics
At the peak of the coronavirus pandemic, unemployment stood at two times the official figures, a new analysis from FinExpertiza argues. In the second quarter, Rosstat reported that 4.47 million Russians, or 6% of the labor force, were unemployed. However, another 4.87 million Russians were out of work as well. They weren’t counted toward official figures because they either were not looking for another job or were unable to return to work immediately. This means that true unemployment stood at 9.3 million people, or 12.1% of the labor force.
47 RUSSIA Country Report November 2020 www.intellinews.com
