Page 9 - RusRPTMar19

2.0 Politics
2.1 Government to take direct control of SOE investment
programmes, dividend payments
2.2 Russia’s austerity taking the wind out of economic sails
Both consumer and producer activity weakened in December 2018,
confirming our expectations of declining support of local demand to GDP growth at least at the beginning of 2019. This year will be a test to Russia's conservative approach to fiscal and monetary policy, writes Dmitry Dolgin, the head of ING’s Russia research, in a note.
Consumption no longer supported by income or leverage
With the exception of the unemployment rate, which remained at a low level of 4.8%, the household activity data for December 2018 was a disappointment.
9 RUSSIA Country Report March 2019 www.intellinews.com