Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS


Kudrin Predicts Stagnation
September 9, 2015 10:32


(Source: http://runews24.ru/economy/finance)

The share of Russia in the global GDP in 2020 will become the smallest in the country’s history since the collapse of the Soviet Union, as the former Minister of Finance, the Head of the Committee of Civil Initiatives Aleksei Kudrin thinks. He expressed this opinion in an article published in the “Kommersant” newspaper on Wednesday, September 2.

“Now we are doomed to slow growth - 0.5-1.5 percent of GDP after 2016, which means stagnation. By 2020 the share of our economy in the global GDP will be the smallest in all the years of the modern Russia - about 2.6 percent” - he predicted.

The former Finance Minister considers that business needs a plan of reforms in order to accelerate growth. “Until now there has been no such clarity and readiness for reforms in the actions of the government” – Kudrin notes. The main obstacles named by him include the selective strengthening of monitoring and law enforcement functions, inspections in the field of deoffshorization, control over prices and currency transactions – “all this increases the pressure on business”. The finance expert also emphasized the fact that Russian sanctions introduced in response to Western countries led to “shock therapy”, despite import substitution.

“Domestic production automatically got an advantage upon deep devaluation, and this decision only inflated prices, reduced the standard of living, increased the growth of credit rates and paralyzed many businesses” - he explains. “The main challenge for the government today is to conduct structural reforms: budgetary, judicial, law enforcement ones, the reform of state-owned companies and a number of others. Only they can reduce dependence on oil and provide an access to sustainable growth”- Kudrin considers.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: Kudrin     

Next Previous

You might also find interesting:

Ration Cards For Privileged Categories Of Russians Amendments To the Law On NGO Will Be Made In Autumn The US Will Tighten Sanctions Business Climate Improvement To Be Discussed Russians Spend More Than 50 Percent Of Income On Food









Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Russian politics  Igor Talkov  Cultural Center "Muscovite"  Kirill Lavrov  Russian regions  Steam Locomotives   Sergey Prokudin-Gorsky  Russian tourism  Stalinist Regime  Zenit  Exhibitions in Moscow  Russian directors  Toxic Chemicals   travel to Russia  Russian Cinema  Russian business  Aeroflot  TNK-BP  Murmansk  Selitrennoye  bus tickets Russia FIFA  Photo Exhibitions  Kiev Railway Station  Festivals in Moscow  Mercedes-Benz Fashion Week Russia  Museums of Vladimir  Russian rouble  St. Petersburg  VTB  London Theatre   Dmitry Solovyov  Russian automobile industry  Azerbaijan  Ski resorts  transfer from Russian airports  Russian Rock Music  contemporary art  Russian singers  Russian Literature  activity holidays  Rostov  crisis  Russian villages  space  Awards  Malina-Jazz   Russian Rock  Boris Godunov  Yuri Kara  Moscow 


Travel Blogs
Top Traveling Sites