Page 41 - RusRPTSept19

Experts believe that the Q2 dynamics is due to the high base effect of 2018.
A total of 1.7 trillion rubles ($26bn) have been allocated for implementation of National Projects in 2019. However, according to the figures provided by the Accounts Chamber, only 32.4% of funds were applied in 1H 2019, which is much higher than previously, but still lower than the average level of the federal budget execution (42.5%).
Renaissance Capital expects the implementation of National Projects to drive the total investment growth in 2020 to 3.6% in annual terms against 0.7% in 2019.
4.5 Labour and income
4.5.1 Labour market, unemployment dynamics
The labour market in Russia remains tight with almost full employment. Unemployment ticked up in July to 4.5% from 4.4% the previous month in June.
41 RUSSIA Country Report September 2019 www.intellinews.com