CBR Sees Notable Increase in April Business Activity, Indian Variant Emerges In Russia

LOCAL NEWS

• Kremlin Spox praises the Mishustin-led govt for supporting the economy during the pandemic,
  • saying it was important that the govt is already drawing up growth plans to support a higher growth trajectory
• CBR says financial flows in April indicate a noticeable increase in business activity vs 1Q21 in industries focused on external and intermediate demand.
  • Consumer & investment sectors payments at the beginning of the Q2 stabilized near Q1 levels.
  • This indicates the likely return of growth in the sectors of domestic demand to a stable medium-term trajectory as the most active phase of recovery ends
• Russia confirms first cases (16 total) of Indian variant among a group of 130 Indian students. Comes after the WHO said the variant spreads more easily than other strains
• Survey shows Russian view of Navalny protests is coming increasingly negative – showing flagging momentum in his support base:
  • only 16% of Russians viewed last month's protest, 39% held negative attitudes to protests & 42% were neutral.
  • Young Russians polled closer to support for the protest while older participants viewed them negatively.
  • Navalny's team says it will no longer announce protests, but hold them "spontaneously"