... could be reduced to around 7%. Although the current rate of approximately 10% is still higher than the target, the authorities continue to target inflation, aiming to bring it back to a medium-term objective of 4% by 2026. Macroeconomic stability and transitioning the economy to a balanced growth trajectory have been identified as priority tasks for the current year. Labor Market: Record Low Unemployment The situation in the labor market was characterized by the president as favorable. The unemployment ...

... price stability in Europe: current exchange prices remain significantly below the peaks of 2022–2023. The energy geography of gas supplies to Europe has changed significantly over the last year. Here are the key changes in routes and sources: Ceasing Transit through Ukraine: From January 2025, all supplies of Russian pipeline gas through the Ukrainian gas transportation system have been completely halted after the expiration of the contract between Gazprom and Naftogaz. Southern Corridor – Main ...

... of supplies through the GMS "Sudzha" in the overall gas import structure to the EU will have an impact. According to the European Network of Transmission System Operators for Gas (ENTSOG), total gas imports to the European Union, including transit supplies via Serbia and North Macedonia, reached 800 million cubic meters per day (m³/day) in July 2024, of which just over 5% (43 thousand m³/day) came through the GMS "Sudzha." Secondly, the targeted gas savings by EU countries,...

... natural gas market continues to rapidly build up reserves ahead of the heating season. According to Gas Infrastructure Europe, underground gas storage facilities in EU countries are currently filled to approximately 69-70%—an unprecedented level for the transition from July to August in recent years. In absolute terms, reserve volumes are estimated at over 75 billion cubic meters. The refilling rates are also record-high: in June, European companies injected around 12.4 billion cubic meters of natural ...

... electricity tariffs, which indirectly touches the economics of fuel (for example, the electricity cost is important for electric vehicles and oil refining). Coal. The global coal market experiences contradictory trends: on one side, countries are gradually transitioning to cleaner energy sources, and on the other, demand for coal remains high in Asia. For Russia, coal remains a significant export item and an important resource for thermal energy. Coal prices have been volatile in recent years, but for the ...