Apurva Sanghi, the new World Bank’s Lead Economist for the Russian Federation, gave a talk at the European University at St. Petersburg, during which he presented the World Bank’s Russia Economic Report no. 36. The report consisted of three thematic sections: 1) the latest trends in economic development; 2) predictions concerning the development of Russia’s economy; and 3) the impact of fiscal policy on the allocation of income during times of economic expansion and recession.