Category Archives: Economics

The Finance Ministry denied plans to introduce a tax on deposits

The Ministry of Finance of the Russian Federation refuted the mass media reports that the Agency is supposedly considering the introduction of a tax on income from deposits. Information began to discuss after the statement of the Deputy Minister Ilya Trunina, who reported about a similar idea.

photo: Natalia Muslinkina

“The Ministry of Finance does not propose to levy personal income tax income from Bank deposits”, – stated in the message Agency, published including in official accounts of the Ministry of Finance in social networks.

In the framework of the Krasnoyarsk forum Trunin said that the Department needed to consider the introduction of personal income tax for persons receiving income from deposits. According to him, it is strange that this kind of income is not taxed. Trunin said that he does not understand why tax is paid even minimum wage and those who earn millions on the contributions will not be paid on these amounts a penny.

Trunin said that the Finance Ministry has not yet officially working on this issue, however he suggested that this idea can start to be discussed.

As pointed out by TASS, currently, taxable income of natural persons received on ruble deposits, if the Bank’s interest rate 5 percentage points higher than the refinancing rate of the Central Bank. Under the law, is taxable only on income derived from the difference between the Deposit rate and the rate of the Central Bank plus five percentage points. On deposits in foreign currency this applies when exceeding the rate on deposits 9% per annum.

Fighting “machines”: the authorities in Krasnoyarsk looking for a way to raise the GDP

Photo: Kirill Kuhmar / TASS

Held in Krasnoyarsk economic forum — this year there looking for recipes for economic growth. The observed RBC

The main theme of the Krasnoyarsk economic forum, which this year takes place for the 14th time, became the search of solutions for economic growth. Their program of reform in Russia is now preparing several organizations, key documents, develop the Ministry of economic development and the Center for strategic research (CSR). It is about their competition and build the plenary session of the forum.

The “squeaky car”

“System of governance I would rate today as a creaky old machine with low speed, which has high power, which we must not stop there and each time adjust their movement. But the result is small”, — said the Chairman of the Board Alexei Kudrin. Only 38% of the officials engaged in their duties, others work in emergency mode and perform the “chaotic” order, said Kudrin. This is one of the reasons for low economic growth in the last ten years he averages 1.5%, although in the beginning of zero was 7%. “The last ten years we go from crisis to crisis with little respite, we have nothing to boast,” complained the former Finance Minister.

New management approaches trying to build the Ministry of economic development, said the head Maxim Oreshkin. To this end, the Ministry established a Department for change management, which will help to introduce a “horizontal management principles”.

Later on in “the creaking of machines,” said the Kremlin. “The state machine is large, but we have a big country. Of course, the state machine control is large, such a vast country and the largest economy sudden movements by the laws of physics can not commit”, — said the press Secretary of the President Dmitry Peskov. The Minister for open government Mikhail Abyzov held that the state “still is not squeaky cart, <…> still, this is a car of economic class.”

Russia does a lot of structural problems, Kudrin said, focusing on the expansion of the state in the economy. Now energy state-owned companies bring 70% of revenue, in Finance — 46%, in six or seven years their share is expected to decline to 15-20%. Responsible for low growth is largely sustained by the public sector with its “very weak policy,” and in order to remedy this problem, we need to encourage Russian companies to enter international markets, Kudrin believes. If Russia will double its non-oil exports in six years, the growth rate was above 2% she will not.

“I don’t understand the strategy”

CSR is preparing a reform strategy for the period up to 2024, the economic development Ministry in its plan with the expectation to 2025. One and the other program needs to be presented in the next month. . On the question whether there is competition between programs, acknowledged that it exists, but it is positive competition. However, the task of the CSR is larger, made clear Kudrin: the center works not only over the economy but over politics, judicial system, law enforcement system. In prisons and detention centers are sitting more than 600 thousand, 200 thousand to guard them, and if to take into account the family’s last, it turns out that more than million people are engaged only in the sphere of protection, citing Kudrin. With the current demographic challenges need to revise the punishment for petty crimes and reduce it — often conclusion for two to three years is excessive punishment, says the head of the CSR.

But the strategies are not everything. This is not the first program, recalled Dean of the economic faculty of Moscow state University Alexander Auzan and the past is almost not performed. You need to consider the existence of groups interested in reforms, and to consider compensation for them. Abyzov and even admitted: “I really don’t understand what the agenda of Russia for the period till 2025”. He was asked to name three key measures to accelerate growth. Kudrin retorted that in three steps the program does not fit, then reminded the head of the project “open government” that the government was open did not become. Abyzov during the operation did only 5% of what needed to be done, thinking Kudrin. But it is not the Minister, he assured Abyzov, just that agencies don’t want to make its activities transparent, a good example is crime statistics.

Photo: Kirill Kuhmar / TASS

To predict the unpredictable

On the background of the conversation about reducing the role of government in the economy, this role is only growing, the burden on business increases when reasoning about its decline, and shows that about one — center of economic policymaking is not in the relevant departments. Such a conclusion at the session devoted to the predictability of conditions for business, was made President of the Association of private pension funds Sergey Belyakov. The Ministry, in his opinion, saying all the right things, but also taken the wrong decisions. “A choice between economic growth and the sustainability of economic growth will be made in favor of pace”, — said Belyakov.

People want to invest, but in Russia there was a “comfort” understanding the strategy of the country and society, said a senior partner at McKinsey, yermolai Solzhenitsyn. The highest risk in terms of unpredictability of legislative initiatives that a business is either not discussed or not accepted in the version which suits the company, said later the Deputy General Director of IBS Tatiana Popova. This is especially true for the digital economy (the law on personal data about news aggregators, on taxi aggregators, trading platforms), which becomes more attractive the jurisdiction of other countries.

There are three crucial elements to the economy — transparency, clarity and predictability, abstractly reasoned in response.. “You can make transparent regulation, but it will be so complex that will not clear, and to sense from it will not. You can do some simple things, but they are close, no one will understand how they work,” he said.

What’s wrong with the regions

Evaluation of the effectiveness of the regional authorities need to reconsider, says Deputy Minister of economic development Alexander Tsybulsky at the session on new regional policy. To assess their need not by funds, but by special performance indicators. In the current situation, the authorities of constituent entities become a cashier because of the numerous instructions from the Federal center.

The amount of subsidies it is necessary to integrate, described regional experience acting Governor of the Perm edge Maxim Reshetnikov, until February the head of the Department of economic policy and development of Moscow. Now the size of some subsidies may amount to 7 million rubles., he described, but work for them and reporting on them will outweigh this amount. Problems in the technology of obtaining subsidies, complained Reshetnikov, is a “time-consuming and cumbersome design.”


Working pensioners will return 200 billion the government plans to resume indexation of payments

Working pensioners will resume indexation of payments. According to Deputy Minister of economic development Oleg Fomichev, the question is now being discussed in the Department. Informed about the need to study it said Prime Minister Dmitry Medvedev, speaking in the Duma with the annual report. This question is very ambitious and extremely difficult. In Russia there are 9.6 million older people who continue to work. For the indexation of their payments necessary 200 billion rubles. Meanwhile, the budget for the third year a deficit budget and the government barely find funds to pensioners.

photo: Natalia Muslinkina

As pointed out by Dmitry Medvedev, because of the crisis, the government “had to take not very popular and difficult decision to change the indexation”. The fact is that pensions must be increased annually at the inflation rate of the previous year. However, the difficult economic situation has forced officials to abandon the full indexation of benefits: in 2016 it was only 4% with inflation at 12.9% a year earlier. Moreover, this measure affected only pensioners. Those who decided to continue to work — were left without indexation even at 4%.

However, later the government decided to sweeten the elderly the pill is the second indexation was replaced by a lump-sum payment in 5 thousand rubles, that people handed out in January 2017. Moreover, these funds were received as working and non-working pensioners.

However, in 2017 the government returned to the indexation of pensions according to the law. In February, the payments increased for inflation in 2016 and 5.4%. The government has allocated 706 billion. Thus, the average size of pensions of unemployed Russians was 13 855 rubles. But workers pensioners again left with nothing.

The question of how to pay them back the indexing of benefits was raised by the deputies on 19 April in a speech of Dmitry Medvedev in the state Duma. As noted by the first Deputy Chairman of the Duma Committee on education Oleg Smolin, due to the abolition of indexation, workers and elderly Russians were forced to quit work, with negative impact on social well-being of millions of families.

Answering a question of MP Prime Minister admitted that “the situation remains complicated” and promised to return to this subject. Literally two days later confirmed the words of Medvedev, Deputy economic development Minister Oleg Fomichev. “It worked out. It’s simple, we need to consider how many will require a budget, and the government to decide,” the official said on the sidelines of the Krasnoyarsk economic forum.

Indeed, the question of indexation of pensions depends in the budget deficit. A hole in the Treasury at the end of the first quarter of 2017 is 274 billion (1.4% of GDP). Therefore, as stressed by Medvedev in the first place, the authorities “are guided by the indexation for those who are not able to work”. “I think it’s a fair approach. If a person is able to work, but he has a slightly different financial status,” — said the Prime Minister.

According to the head of the Pension Fund of Russia (PFR)Anton Drozdov, for the indexation of payments to working pensioners will require 200 billion rubles. Moreover, according to the official, the FIU in order to consider full indexation has not yet been reported. A need for it, according to experts, are long overdue. “Money from people is becoming less and costs are rising. Reduction of indexation in such conditions and the lives of people is not easy, and the economy slows down,” — said the first Deputy Director of the Institute of contemporary economy Anton Antropov.

Meanwhile, the return of indexation of workers to pensioners could support nearly 10 million people. And that 6.5% of the total population. But where to get the necessary additional 200 billion rubles? “Even with the current indexation reduced the budget of the Pension Fund drawn up with a deficit of nearly 182 billion. That is, this measure will increase the deficit more than twice”, — the expert continues.

Now FIU has two main sources of replenishment of the budget – own revenue from the fees with working people and transfers from the Federal budget. For example, to improve collection of contributions to the pension Fund possibly pulling business from the “shadow”. But this is a long process, it could take several years. Therefore not suitable for financing indexation this year. “But try to get money from the Federal budget there is a chance. But this requires a volitional decision of the top leadership of the country. In particular, should abandon the policy of pathological hoarding. Furthermore, it should mitigate the fiscal rule, which is now surplus to go to purchase foreign currency and not to Finance current needs,” says Antropov.

Read a material “the MAYOR thought about the indexation of pensions to working pensioners”

Ruble beat its own national currency will protect against verbal interventions

photo: Gennady Cherkasov

Senior officials should not comment on the exchange rate. This opinion was expressed by adviser to the Russian President Sergei Glazyev on the sidelines of the ongoing international Yalta economic forum. “I think Federal officials not to give any estimates on the exchange rate, because it creates the impression that either they manipulate the rate, either someone is manipulating them,” said Glazyev. According to him, “any careless phrase regarding the ruble rate manipulators are able to give profits due to the depreciation of the ruble-denominated income and savings of all the others.”

In fact, in the Arsenal of the presidential adviser many ideas, to put it mildly, dubious. Here in Yalta he again voiced his favorite, but not the indisputable thesis that the ruble is manipulated by American speculators, that free floating of the ruble should be canceled and the course to consolidate administrative for three to five years. But with regard to his statement about the ban on comments of course for Ministers and their deputies, personally I am ready to subscribe under each word Glazyev.

The fact that over the last month and a half we got hit with avalanche of statements of authority figures on the ruble exchange rate with a common refrain: “it is too stronger, make us weaker national currency”.

The ruble is stronger than it should be based on fundamental values, over and over again repeated by the Minister of economic development Maxim Oreshkin. The ruble is overvalued by 10-12 %, echoes Anton Siluanov, the Finance Minister, whose office passed from words to business, and for three months conducting operations in the open market for the purchase of currency. The goal is the same: to besiege “presumptuous” ruble.

On the eve of his party and the choir added the Minister of agriculture Alexander Tkachyov, who called the current strengthening of the ruble threatens to export of Russian agricultural products. And categorically added that rural exporters the desired rate of 60 rubles to the dollar — and the point (now, recall, the dollar is worth 56 kopecks).

Went even further, Deputy Minister of industry and trade of the Russian Federation Vasily Osmakov, who said that the optimal rate for Russian companies would be the range of 60-65 rubles per dollar. Of course, farmers and Industrialists weak ruble is the best — their products in this course receives a competitive advantage and better sold abroad.

But I’d like to ask governing these industries masters, as they managed to work 4-5 years ago when the dollar was worth 30 rubles? But it worked somehow, and even in the country was economic growth, which is not in sight . Yes, oil was then twice as expensive than it is now. But what does this have to do with agriculture and industrial production?

As for the ruble, it really strengthened markedly over the past year: its rate increased by about 20% against the dollar and 25% against the Euro. But if you think about it, there is nothing surprising in this: after all, we have in the country in the autumn of 2014, announced by the Central Bank floating the currency. That is, this is the course on a daily basis is not determined by the administrative will of the big bosses, and especially the stock market factors. The “invisible hand of the market” works.

The stranger that beat ruble began his Federal Ministers of the economic block. It seems quite surprising considering the strong ruble is one of the few real achievements of our financial authorities lately. It managed to reduce inflation to record low levels in the newest Russian history. The population, exhausted by the continuous decline in real income, have experienced at least some consumer optimism. The purchasing power of the ruble began to rise, for the first time in the last two years there has been a revival of retail trade. Our people again felt the taste for foreign travel and the demand for package tours during the may holidays has risen by as much as 30% compared to last year. That is, the Russian population who receive income in rubles, a strong national currency is a joy.

A high-ranking “servants” of the government — it is a burden. They have, as it turns out, has other priorities: not the wallets of people, and, apparently, the interests of the exporting industry or any other influential lobbying groups.

I am extremely negative attitude to the wave of bans that we have in recent time covers more and more spheres of life and activities. But I think that the initiative of Sergei Glazyev waiting for his “member Spring” to cast it in a legislative ban for top officials to comment on exchange rate. Right, and our people, and our national currency, this ban will win.

… Announced the GDP growth for the second consecutive quarter after two years of recession

Maxim Oreshkin

Photo: Dmitry Korotaev / Kommersant

GDP in the first quarter of 2017 increased by 0.4% compared to the same period last year, said the head of the Ministry Maxim Oreshkin. This is the second consecutive quarter, which showed growth

In the first quarter of this year, GDP grew by 0.4% compared to the same period in 2016, told reporters at the Krasnoyarsk economic forum the Minister of economic development Maxim Oreshkin. This is the rating adjusted for leap year made on the basis of monthly Rosstat estimates, said Oreshkin.

Thus, if Rosstat will confirm the Ministry of economic development, the economy in Russia will grow for the second consecutive quarter. In the fourth quarter of 2016, the GDP increased by 0.3%. This followed two years during which the domestic economy is reduced.

The Ministry of economic development predicts year growth of 2%. In the next three years he slows to 1.5% per year in the baseline forecast, and target scenarios, in which was said., pledged action to boost the economy (which, he did not specify), increasing to 3.1% in 2020.

Inflation in April was 4.2% compared with April last year, Oreshkin said, the Central Bank’s target for inflation of 4% will reach Russia in may. The head of the Central Bank Elvira Nabiullina said earlier that as at 17 April, inflation slowed down to 4.1%. In the basic and the target scenario of economic development it is at the same levels of 3.8% in 2017 and 4% in the next three years.

The state Duma adopted the law on compulsory transfer of public sector employees by the card “the World”

The state Duma adopted in the third final reading of a bill for the gradual transfer of public sector employees and pensioners to the Bank card “the World”. Banks will have until 1 June 2017 to ensure receipt of cards “the World” in all the devices designed for payments.

photo: Natalia Muslinkina

On the same date, of public sector employees who open new accounts, issue cards, “Peace”, reports RIA Novosti.

State employees who already have existing Bank accounts, transferred to the Mir before July 1, 2018.

Pensioners will receive “Peace” at the expiration of their previous cards, but no later than 1 July 2020.

Earlier, ITsE-speaker of the state Duma Sergey Neverov announced that the service card “the World” for seniors will be free.

We will remind, the need to create national payment system emerged in 2014 amid sanctions standoff with the West, when Visa and MasterCard stopped servicing cards of some Russian banks.

In the MAYOR thought about the indexation of pensions to working pensioners

The Ministry of economic development of the Russian Federation count the cost of indexation of pensions to working pensioners. The head of the Pension Fund Anton Drozdov has informed that for these purposes will require about 200 billion rubles.

photo: Gennady Cherkasov

Deputy economic development Minister Oleg Fomichev told reporters on the sidelines of the Krasnoyarsk economic forum that the issue of indexation of payments to working pensioners is under consideration, reports RIA Novosti.

“It’s simple, we need to consider how many will require a budget, and the government to decide,” the official said.

The head of the Pension Fund of Russia Anton Drozdov, in turn, noted for the indexation of pensions will require about 200 billion rubles. According to him, Russia now has about 9.6 million working pensioners, reports TASS.

“If there is an instruction (to consider the possibility of restoring the indexation of pensions to working pensioners – ed.) – will discuss,” – said Drozdov, noting that while the FIU has not received the relevant instruction.

Earlier, Prime Minister Dmitry Medvedev during the final report in the state Duma said that the issue of indexation of pensions to working pensioners and the disabled is not closed. According to him, Ministers and MPs must work together to discuss the social and economic consequences of this step, to make an informed decision.

Recall that the pensions of working Russians were frozen from January 2016. Medvedev said that the government was forced to take this difficult and unpopular decision because of the difficult balance the budget.

Oreshkin explained the Medvedev’s idea about new tax credit

Dmitry Medvedev (left) and Maxim …

Photo: Alexander Miridonov / Kommersant

New exemption for the profit tax, the introduction of which was announced by Prime Minister Dmitry Medvedev, should contribute to “structural changes in taxation,” said the head of the Ministry Maxim Oreshkin

“The main task — the structural changes in the tax and improving cash flow for companies that invest. Shift the tax burden towards more recent periods will stimulate greater activity and investment achieve higher economic growth,” said Oreshkin, answering the question of RBC during the Krasnoyarsk economic forum.

The Minister did not disclose specific details of the proposal, saying only that they will be “studied and discussed”. “So what kind of specific form to speak still early” — he concluded..

About the new tax credit Medvedev said during his report to the state Duma on April 19. We are talking about reducing the profit tax from the current 20% to 5%, if the company invests in the modernization of production and high-tech equipment. “Another observation: you would think that part of this benefit was required due to Federal income tax. This would affect agriculture and the manufacturing industry. But this is only a proposal,” — said the head of government.

Oreshkin said earlier that investment growth is the basic idea of the plan of the government to accelerate the pace of economic growth until 2025. The head of the Board of the Center for strategic development Alexey Kudrin noted that investment can be a driver of GDP growth only in the next few years, and then to the fore should get a performance boost.
Exemption for the income tax already operates in the framework of regional investment projects (RIP) and territories of priority development (tpd). At the same time, Finance Minister Anton Siluanov said that the incentives and preferences should not “perforate” the budget.

A new scenario for Siberia

Yesterday opened XIV Krasnoyarsk economic forum. As always, the participants discussed new challenges and the challenges posed to the government, business and regions. Today special attention to Cafe will be given to the development of Eastern Siberia.

The Krasnoyarsk hydroelectric power station

The participants of the brainstorming which took place today in Krasnoyarsk, will share his vision of further development of this vast territory, occupying a prominent place on the map of Russia. Opinions on this issue will speak as representatives of the government — the Plenipotentiary of Russian President in the Siberian Federal district Sergei Menyailo, Krasnoyarsk Governor Victor Tolokonsky, representatives of business — for example, the famous Russian industrialist Oleg Deripaska.

The development of the economy of Siberia and the Far East is not the first year is discussed at the highest level. Back in 2010 a group of professionals, headed by full member of RAS, Deputy of the state Duma Andrey Kokoshin presented the report “Scenarios of development of Eastern Siberia and the Russian Far East in the context of the political and economic dynamics of the Asia-Pacific region by 2030”. Then the “new opportunities” was one of the most likely scenarios, but offers not lost its freshness today. The essence of the script is a combination of complex development of resources of human capital generation and active use of new knowledge and technologies. In this case, the macro-region is emerging centres of economic growth. The implementation of the “new opportunities”, according to the experts, would increase the total gross regional product (GRP) of the regions of Eastern Siberia and the Far East in 5-6 times by 2030 in comparison with 2010. Per capita GRP in this area could be by 2030, $48 000, and the population would increase to 16.8 million people. This scenario implied an increase in the overall level of investment in the implementation of development plans in Eastern Siberia and the Far East to $570 billion by 2030.

It took about 7 years, and the macro-region on the threshold of new challenges and political realities. Today, experts interviewed by “MK” directly connects prospects for economic development of the macroregion with the role of a bridge between the economically more developed Western part of the country and actively “raise” now the Far East.

“Transit potential of Siberia creates opportunities for the inclusion of Russia into the international transport projects, — Alexey Vasilchenko, managing Director of the aviation business of the industrial group “Basic Element” Oleg Deripaska, which is actively involved in the modernization of the aviation hubs in Krasnoyarsk and Vladivostok. And transit potential of Siberia creates opportunities for the inclusion of Russia into the international transport projects. For example, Krasnoyarsk can become one of the largest logistics hubs in the world. Geographical and infrastructure conditions allow then create an international multimodal transport hub that allows you to combine transportation due to the presence of air, rail and road infrastructure, and access to the Yenisei river port and river transport. The right solution for the integration of Siberia in the international logistics network, would be the creation OEZ in Krasnoyarsk airport development, production and associated businesses. After the establishment of additional legal conditions it will be possible to redirect global flows of up to 500 000 tons of freight per year, carried today by non-optimal routes. Now Krasnojarsk airport could become the “entry point” to Russia for the goods of electronic Commerce and to serve up to 50,000 tons of online shipments a year. However, a number of barriers deters the largest logistics companies in China, although only the creation of a logistics Park near the airport Emelyanovo will attract investment of about 100 billion rubles.”

However, do not transport a single rich Siberia. As said Vladislav Soloviev, CEO of the largest aluminum producer RUSAL, “Siberia has always been a special role from the point of view of industrialization of the country. Here was created a powerful energy and metallurgical complexes, which contributed greatly to the industrial might of Russia. Today the enormous potential of this region, including the scientific basis, can and should be used for the development of deep processing and the creation of tech products on the basis of existing production facilities. We believe that the establishment of technology valleys in Krasnoyarsk, and later in other cities of Siberia allow not only to attract significant volume of foreign and Russian investment in processing, but also to create products with great export potential”.

At the same time, Oleg Deripaska, Chairman of Supervisory Board of “Basic Element”, I’m sure that “Siberia is a unique macro — region with a rich potential to play a leading role in the socio-economic development of Russia. Realizing the potential of Siberia should be based on advanced technologies and provide complex development of the territory — from energy to tourism. For example, the availability of sources of energy and rich deposits of natural resources — the basis for the development of not only energy intensive but also high-tech production facilities for deep processing of raw materials. In Siberia major scientific and technical centres. Therefore, the development of high-tech manufacturing will contribute to the creation of productive jobs”.

The territory of Siberia have significant potential that should be used for the development of the country. The main task — to create the conditions guaranteed economic growth attracting investors and businesses.

Kudrin compared the state administration in Russia with the “old creaky machine”

Alexei Kudrin

Photo: Oleg Yakovlev / RBC

Public administration in Russia — “creaky old machine, which we’re not going there,” said Alexei Kudrin. The new format of the control the government will offer the Ministry of economic development, said Maxim Oreshkin

Problems with the economy of Russia are connected not only with low oil prices and sanctions, and in public administration. This was during the Krasnoyarsk economic forum, said the Chairman of the Board of the Center for strategic research (CSR) Alexei Kudrin, reports RBC.

“System of governance I would rate today as a creaky old machine with low speed, which has high power, which we must not stop there and each time adjust their movement. But the result is small”, — Kudrin said.

The evaluation of the CSR, their duties occupied only 38% of the officials, otherwise they are engaged in “fire fighting” in “emergency situations” and executing “random” instructions.

“The last ten years, our growth rate is below 1.5%. For Russia, this is, in General, a lost decade. In the beginning we lived about eight years with the rate of 7%, and this was a high growth rate for Russia was updated. The last ten years we go from crisis to crisis with little respite, we have nothing to boast,” — said Kudrin.

The Minister of economic development Maxim Oreshkin said that his Department is trying to build new management approaches. So, the government’s plan to accelerate economic growth, which prepares the Ministry, should “live and respond to the changing external environment”, “have feedback.”

We need to introduce project management, said the Minister in the Ministry of economic development has established a Department for change management that will contribute to “horizontal governance”. In the long term such changes. … will be prompted to enter and at the government level. Plan of economic growth should not be a “dead” document, the Minister said, and this will help change management approach.

In General, in Russia “a number of structural problems,” Kudrin said. One of them is a large state presence in the economy. State-owned companies “otherwise motivated” and thus occupy a major role in leading industries of the country, for example in mining and Finance, where, according to Kudrin, the state-owned companies should not be at all. It is the public sector is largely responsible for low growth rates, this is due to its “very weak policies,” insists the former head of the Ministry of Finance. Russia needs new incentives, in particular the business’s international markets, where he is now afraid to go, concluded the speaker.

Of course, the state should not completely withdraw from the economy, “completely naive” to assume the opposite, said Deputy Prime Minister Arkady Dvorkovich. The authorities must protect the rights and interests of citizens, and they should do it “much better” than now, said Dvorkovich.

CSR is developing a strategy of reform until 2024, at the same time its development plan to 2025, says economic development. Both documents will be submitted in may of this year. … , Responding in a forum on the question of whether there is competition between programs, acknowledged that it is, however, called it “positive.” CSR and economic development work together on some tasks, and in parallel there is nothing wrong, argued the Minister, noting that CSR is the responsibility of more. Kudrin Oreshkin was supported, adding that his center is involved in such important issues as geopolitics, the judicial system and law enforcement agencies.