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  • Econ1270 - Tran Nguyen Ngoc Khanh - S3740817 - Assignment 1 - Graph

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    1) Figure 1 shows that from 2001-2020 in Russia, national savings generally exceeded domestic investment, leading to current account surpluses. 2) Figure 2 indicates that when Russia had current account surpluses from 2001-2008 and in recent years, it also had government budget deficits, and when it had current account deficits from 2009-2015 it had government budget surpluses. 3) Table 1 provides the exact figures for national savings, domestic investment, current account balances, and government budget balances in Russia from 2001-2020.

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    ECON1270_TRAN NGUYEN NGOC KHANH_S3740817_ASSIGNMENT 1_GRAPH

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    1) Figure 1 shows that from 2001-2020 in Russia, national savings generally exceeded domestic investment, leading to current account surpluses. 2) Figure 2 indicates that when Russia had current account surpluses from 2001-2008 and in recent years, it also had government budget deficits, and when it had current account deficits from 2009-2015 it had government budget surpluses. 3) Table 1 provides the exact figures for national savings, domestic investment, current account balances, and government budget balances in Russia from 2001-2020.

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    21 views5 pages

    Econ1270 - Tran Nguyen Ngoc Khanh - S3740817 - Assignment 1 - Graph

    Uploaded by

    Khánh
    1) Figure 1 shows that from 2001-2020 in Russia, national savings generally exceeded domestic investment, leading to current account surpluses. 2) Figure 2 indicates that when Russia had current account surpluses from 2001-2008 and in recent years, it also had government budget deficits, and when it had current account deficits from 2009-2015 it had government budget surpluses. 3) Table 1 provides the exact figures for national savings, domestic investment, current account balances, and government budget balances in Russia from 2001-2020.

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    of 5

    ECON1270 – INTERNATIONAL MONETARY ECONOMICS

    ASSIGNMENT 1 – COUNTRY REPORT (GRAPH


    SECTION)

    Course name International Monetary Economics


    Course code ECON1270
    School RMIT Vietnam University
    Location Saigon South campus
    Student name Tran Nguyen Ngoc Khanh
    Student number S3740817
    Lecturer Woo Cheol Lee
    Assignment Assignment 1 – Country Report
    Date of submission 25th July 2021
    Word count 536

    SEMESTER 2, 2021

    RMIT VIETNAM UNIVERSITY


    Question 3

    National savings, Domestic investment and Current account balance of Russia (% of GDP)
    (2001-2020)
    Sn - I = CA
    40
    35
    30
    25
    % of GDP

    20
    15
    10
    5
    0
    01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
    20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20

    National Saving Domestic investment Current account


    (Gross domestic saving) (Gross Capital Formation) balance

    Figure 1. National savings, domestic investment and current account balance (% of GDP) of
    Russia in 2001-2020 graph
    Adapted from: World Data Bank (n.d.), <https://databank.worldbank.org/source/world-
    development-indicators#selectedDimension_DBList>
    The Relationship of current account balance and government budget balance of Russia
    (2001-2020)
    15

    10

    5
    % of GDP

    0
    01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
    20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20
    -5

    -10

    Current account Government budget balance


    balance

    Figure 2. Government budget balance and current account balance (% of GDP) of Russia in
    2001-2020 graph
    Adapted from: World Data Bank (n.d.), <https://databank.worldbank.org/source/world-
    development-indicators#selectedDimension_DBList> and Ministry of Finance of the Russian
    Federation (n.d.), < https://minfin.gov.ru/en/statistics/fedbud/?id_65=119255-
    annual_report_on_execution_of_the_federal_budget_starting_from_january_1_2006>
    ( S¿¿ P−I )+(ℑ−EX )=(G+TR−T ) ¿

    National Saving Domestic


    (% of GDP) investment (% of
    (Gross Private Saving GDP) Government
    domestic (% of GDP) (Gross Capital Current account budget
    Year saving) Formation) deficit (% of GDP) deficit (% of GDP)
    2001 34.2 29.77 21.9 -10.5 -2.63
    2002 30.9 20.98 20.0 -8.0 -7.02
    2003 31.4 26.40 20.9 -7.7 -2.20
    2004 32.6 25.53 20.9 -9.9 -5.27
    2005 33.2 21.22 20.1 -11.0 -9.88
    2006 33.8 22.47 21.2 -9.3 -8.03
    2007 33.9 24.30 24.2 -5.6 -5.50
    2008 33.3 27.70 25.5 -6.3 -4.10
    2009 24.6 30.90 18.9 -4.1 7.90
    2010 29.8 30.90 22.6 -4.4 3.90
    2011 32 28.30 24.3 -4.8 -0.80
    2012 30.6 27.70 24.6 -3.2 -0.10
    2013 28.2 25.30 23.3 -1.5 0.50
    2014 28.2 25.70 22.4 -2.8 0.50
    2015 26.6 29.50 22.1 -5.0 2.40
    2016 28.3 28.40 23.1 -1.9 3.40
    2017 28.9 27.10 23.6 -2.0 1.50
    2018 31.9 26.00 21.9 -7.0 -2.90
    2019 30.5 24.80 22.8 -3.8 -1.80
    2020 29.8 30.10 24.0 -2.3 3.80

    Table 1. Russia twin-deficit figures (% of GDP) in 2001-2020


    Adapted from: World Data Bank (n.d.), <https://databank.worldbank.org/source/world-
    development-indicators#selectedDimension_DBList> and Ministry of Finance of the Russian
    Federation (n.d.), < https://minfin.gov.ru/en/statistics/fedbud/?id_65=119255-
    annual_report_on_execution_of_the_federal_budget_starting_from_january_1_2006>

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