From 14 to 21 May, Russia’s international reserves rose by 1.2 percent (seven billion dollars), reaching a record of $ 600.9 billion in the entire history. This is evidenced by the materials of the Central Bank.
The reason for such a speaker, as explained in the regulator, has become a positive revaluation. The last time the record was fixed on August 7, then the reserves were 600.7 billion. In general, over the past year, Russia’s international reserves grew by 7.5 percent, on January 1, they accounted for $ 595.8 billion.
International or gold and foreign exchange reserves are highly liquid foreign assets available at the Central Bank. We are talking about foreign currencies, gold, backup position in the International Monetary Fund (IMF) and Special Rights of Borrowing (SDR).
On May 26, the World Bank in the annual report on the state of the Russian economy noted her success during the crisis. GDP in 2020 decreased only by 3 percent, which is better than developed countries (5.4 percent), commodity exporting countries (4.8 percent) and the world as a whole (3.8 percent).
Among the factors that helped achieve good results, macrobal stability, soft coronavirus restrictions and a relatively small service sector.
Earlier on May 27, the Central Bank said that the debt load of Russians (the ratio of payments for general revenues) in the first quarter increased to a historic maximum of 11.9 percent.