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    Russian Economy General News: #1

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    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Sat Apr 06, 2013 5:38 pm

    Russia needs Deep Structural Reforms to build its long term economy , all this oil wealth can lead it no where.

    I think Kudrin is right here

    Only Harsh Medicine Can Spur Russia’s Economy – Kudrin

    http://en.rian.ru/business/20130404/180442282/Only-Harsh-Medicine-Can-Spur-Russias-Economy--Kudrin.html

    GarryB
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    Re: Russian Economy General News: #1

    Post  GarryB on Sat Apr 06, 2013 11:08 pm

    Lots of talk about changing Russias economy away from energy exports, but as far as I am concerned if it sells... then develop it and sell it.

    Russia certainly needs to develop other areas of its economy and it is working on these things. Just look at the Skolkovo project that is divided into about 6 main areas of development to focus on.

    The real focus should not be to match the west, the real focus should be to do what the west has largely failed to do... and that is spread the development and progress and improvements to more of its citizens rather than a select, rich few, and a fairly large middle class group.

    Russia will have succeeded in my view, not when its GDP matches Germany or the US or whomever, but when you can leave the cities and go out to the villages and see their life is better and easier with modern technology.

    Obviously my wish is much much harder to achieve than GDP parity, but I think it is a much more worthy goal.


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    gaurav
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    Re: Russian Economy General News: #1

    Post  gaurav on Sun Apr 07, 2013 7:44 am

    GarryB wrote:, but when you can leave the cities and go out to the villages and see their life is better and easier with modern technology.
    Russian villages are empty. Thats the problem.No wonder after being the richest nation their overall economy is tattering. I mean roads, electric railways, extension into Ural siberian railways (lying idle since WWII) and even in Aviation sector. That Tupolev video shows 20 people working in that production centre. Surprised Boeing could show .4-.5 million people with 100 countries involved..?
    We should not make excuses like salaries are low in aviation and people do not want careers in materials, airframes, assembly etc etc.
    I know for sure some 100 companies in bangalore are doing software, maintenance,

    off shore engineering support ,VLSI Avionics SoC, FPGA design, System bus design

    .for Beoing/Airbus.Cant even think how many people involved.

    Almost evry other start up Bangalore is related to FPGA chip/Software/Embedded/CAD(aerodynamics simulators) desigin for Beoing /Arbus.
    Now compare with 20 employees in "Advanced tupolev".


    They are barely able to push kids into defense industry and military draft.
    That is teh only contribution of Russia for past 3-4 years.
    This needs to change.

    19 year olds will make no change in the revenue, output, development of defense industry.
    The whole defense industry is run by 60 plus year olds.
    Russian civil industry - consumer -> products, electronics manufacture, green technologies is in worse shape.
    There is just not enough labour to "PLAY CATCH UP" with the west or China.

    There are no middle aged skilled people.Only these kind of people push up the
    production, assembly lines and process industry of any nation.



    Yes some state corporations are involved in bringing western manufacture technologies to Russia.For i.e Rusnano they are just not enough because west is also delaying them
    in bringing to Russia.
    Austin wrote:It seems Russia does not encourage from people around the world to come and work but only from CIS countries. That should change.
    This is what I was trying to explain.They do not off shore any techical design work to countries like India.Which are best suited for .Low payed Engineers are the basis of India.
    This is strategic information. We must kkep info on this Russia defence .net .What kind of skilled labour , semi skileed or unsilled or eve rioter does Russia import and for what purpose.

    Just look at the Skolkovo project that is divided into about 6 main areas of development to focus on.
    Cant go into detail.It was heavily criticised by Tupolev, irkut etc.Slowly things are taking shape.Buta s I said before if the change is too slow then it is no change.I mean in that sense.
    For i.e Corruption case came TO Chief of staff Ivanov.. he gave ultimate report..
    SKOLKovo is a Real ESTATE BUSINESS IN RUSSIA . Investors come in(both Russian (OIL/GAS) and Abroad) and poured in 2 billion usd more than double of rusnano in one YEAR.

    Almost 10 buildings were already ready.There was no one to populate them.
    All over Russia skolkovo is most famous for real estate business and NOT technology.
    This was reported by Chief of staff.The previous director of Skolkovo resigned for same rreasons. There were 20-30 people all were adminstrators with no people!Their salaries lakhs of dollars per/week.! Shocked
    That also was reported.
    Time will tell how they will improve the Skolkovo project in Human resource aspect..
    I think Russia will shift its focus back to Rusnano.It is more close ly aligned with Russian industry and has less corruption
    They have cancelled lot of plans for skolkovo.
    Kremlin realizes that without people and their skillsets(twell trained in their domains) nothing will come up in Skolkovo.Their plans are now shifted to 2030.. Shocked as if they are digging arctic gas..


    IF skolkovo was built in India , I can guaranteee that it could fill with 100 MILLION students witin few days(just now it has some admins with milin dollar salaries) , just like reliance acuired 30 crore subscribers in 1 week.. Shocked Shocked





    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 8:40 am

    Gaurav , are you serious if topolev video shows 20 people in production that means it has just 20 people there Laughing
    These video are made for the purpose of PR and Marketing , Showing another 200 people in the video wont make any difference.

    You should look at the productivity of an organisation not the number of people working there. Tupolev has done more work in Aircraft in its journey so far and has built more aircraft till date then HAL have ever built in its existance or would ever build in next 50-80 years ...not mere numbers but types of aircraft and their usage in RuAF and world wide. All HAL has done so far is build Lic model of mostly Soviet/Russian and Western type and small innovation in modernising them and very few new types

    But now they dont have Tupolev or Sokol or Mig as single entity they all work under UAC.

    Russian MIC directly indirectly employs more than 15 % of population and its in millions its productivity needs to be increased.


    I agree Russian MIC needs more brains then it has and more skilled people , considering its spendting 23 Trillion roubles or $700 billion this decade on Military and MIC , it needs to get fresh blood to make it self competitive and cost effective with innovative products , that is how their MIC will survive in coming decade , if not it will slowly perish.

    Russia's military-industrial complex needs fresh blood: officials



    MOSCOW, March 20 (Xinhua) -- Russia's military-industrial complex has exhausted its scientific and technical stocks and badly needs influx of skillful workforce, high-ranking officials said Wednesday.

    "I have to state that scientific and technical stocks have effectively exhausted today," Deputy Defense Minister Yuri Borisov told a conference of military-industrial complex.

    Russia risked losing an opportunity of scientific-technical breakthrough in areas such as the creation of supersonic devices, weapons based on new physical principles and weapons of cyber warfare, Borisov warned.

    Speaking at the same conference, Russian Deputy Prime Minister Dmitry Rogozin said the country's military-industrial complex suffered from high interests rates on loans.

    "How can we develop the industry with 10-12 percent loans? It could only be done with (the rates) of 4-5 percent," Rogozin said.

    He noted that Russia's military-industrial complex badly needs skillful workforce, and called for a "brain import" of foreign talents."When it comes to brain import, we are ready to give them residency permits, work permits and even Russian citizenship," Rogozin said.

    He reiterated Russia would not purchase ready-made military equipment abroad but would buy technologies, attract hardware developers and skillful workers.

    According to Rogozin, the Russian army needs cutting-edge automatized and robotic arms because the armed forces face severe shortage of personnel.

    "This is about unmanned air, ground, sea, submarine systems," he said, adding that a Russian soldier armed with such an equipment must be capable to fight against five enemies.

    The Russian government has allocated 20 trillion rubles (about 666 billion U.S. dollars) for the rearmament and modernization of its armed forces until 2020.

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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 8:56 am

    Medvedev Urges Consolidation of Defense Industry
    http://en.rian.ru/business/20130320/180134832.html

    MOSCOW, March 20 (RIA Novosti) - Russian Prime Minister Dmitry Medvedev called on Wednesday for the further consolidation of the defense industry, calling it a key to the country’s economic development.

    Priority should be given to the sector’s integration along all lines, he told a military-industrial conference in Moscow, dedicated to the 60th anniversary of the establishment of the Military-Industrial Commission.

    “You can’t build a modern army and navy just like that, in a backyard shed,” he said.

    As of today there are 61 integrated structures in the defense industry, comprising 771 large enterprises, which account for over 74 percent of defense industry output.

    By 2020, a new-look defense industry is to be formed with about 40 large science and production associations.

    The defense industry is expected to grow at a rate of 10 percent in 2013-15, Medvedev said, stressing that its development is crucial for national economic development as a whole.

    He underscored the importance of state support for innovative projects at all stages.

    “We hold serious positions on the world arms market, being the world’s second largest seller by volume, but it is not easy to keep that place: We need to move forward all the time," Medvedev said.

    Russia's ambitious 2011-2020 arms procurement program stipulates the upgrade of up to 11 percent of military equipment annually and will allow the country to increase the share of modern weaponry in the Armed Forces to 70 percent by 2020. Russia allocated about 908 billion rubles (about $30 bln) on state defense order spending in 2012.


    New Arms Program to Change Russia by 2020 - Rogozin

    http://en.rian.ru/military_news/20130223/179643947.html

    KRASNOGORSK, February 23 (RIA Novosti) – Russian Deputy Prime Minister Dmitry Rogozin said the implementation of Russia's ambitious arms procurement program will bring drastic changes to the country by 2020.

    “By 2020, the moment of the weapons program implementation, we will be living in a quite another country…In the country, which will surely get off the oil and gas needle, in the country which will have new modern plants, in the country, where the cult of an engineer and constructor will be created,” Rogozin, who is in charge of the defense industry, said.

    “We will turn the tide, this will be an industrial power,” Rogozin said on Saturday at a meeting of Russian patriotic organizations in Krasnogork, in the Moscow Region, marking the holiday, known as Defender of the Fatherland Day.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 9:03 am

    Sorry i was wrong on the stastics on MIC employment
    http://www.thedailybeast.com/newsweek/2011/02/06/moscow-s-armada.html

    Russia’s military-industrial complex employs close to 3 million people and accounts for 20 percent of all manufacturing jobs

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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 12:14 pm

    Insight: Russia's Bazhenov - a long, slow shale oil revolution

    (Reuters) - Forty-five years after its accidental discovery deep under the swamps of West Siberia, the race is now on to develop the world's largest shale oil resource, Russia's Bazhenov.

    A drilling push begins in earnest this spring, spurred by President Vladimir Putin's promise to loosen the Kremlin's grip on proceeds from its natural resources in hopes of sparking a shale revolution aimed as much at remaking Russia's oil industry as at raising output.


    ExxonMobil and Russian state oil company Rosneft are headlining the new phase of exploration to see whether Bazhenov lives up to its billing.

    Russian producers have already reported 500 million metric tons (551.16 million tons), or 3.5 billion barrels, of recoverable crude oil reserves in Bazhenov to the Russian government.

    Much studied but largely untapped, it lies in impenetrable black clay beneath existing oilfields covering most of West Siberia, whose westernmost hub is the oil town of Tyumen, 1,700 kilometers (1,060 miles) northeast of Moscow.

    "Back when I worked in exploration, one of our geologists called it the wild black stone," said Tatyana Smagina, head of reserves management at the Tyumen Oil Research Centre, part of Rosneft.

    The centre holds core samples from 30 years of drilling in West Siberia that are studied to help determine where Russia's new oil will come from.

    The government now estimates that the wild black stone could yield 1-2 million barrels per day by the end of the decade.

    Yet the full scale of its riches remains a mystery. Estimates range from a conservative three billion metric tons, or over 20 billion barrels, to as much as 143 billion metric tons, according to a survey of Russian research by oil consultants IHS Cera.

    The upper estimate would mean an extraordinary one trillion barrels, nearly four times the size of Saudi Arabia's oil reserves or 30 years of world supply at current rates of consumption.

    The International Energy Agency describes Bazhenov as the world's largest source rock, a bed of ancient organic matter dating back to the Jurassic period which has given rise to most of the crude oil pumped from the fields of West Siberia.

    NO BAKKEN SURGE, YET

    Those vast reserves do not necessarily add up to a U.S.-style production surge in the making.

    The U.S. state of North Dakota has estimated oil production from its Bakken and other formations could reach 1.2 million barrels per day by 2015.

    Yet Russia already pumps more conventional oil supply than Saudi Arabia at around 10.3 million barrels per day and may look to shale to maintain rather than revolutionize production.

    Its oil-dependent leaders, rather than fearing the surge in U.S. output from shale, have looked on with curiosity and some envy.

    For them, Russia's rediscovery of its shale resources is aimed more at offsetting declines in the fields that produce most of Russia's crude - the Soviet giants of West Siberia, like the Salym group fields where Bazhenov was discovered in 1968.

    Output there is now declining at an average of about 2 percent a year.

    The U.S. experience has produced a new generation of high-tech, low-cost drillers and producers with advances in technology, including horizontal drilling to tap reservoirs more efficiently, and hydraulic fracturing to release hydrocarbons from non-porous "tight" rock.

    In contrast to the entrepreneurs who predominate there, Russia's oil industry has been concentrated in the hands of a few powerful players over the last decade, mostly controlled by the state, raising questions about its efficiency.

    It faces the task of moving away from standardized bulk drilling and top-down design decisions toward shale and other new deposits where new technology must be developed and honed along the way.

    The challenge for the crude oil market posed by the U.S. shale surge "would not hurt us so much if we were more competitive," said Tatiana Mitrova, head of the oil and gas department at the Russian Academy of Sciences Energy Research Institute.

    The drilling now under way should determine whether Russia can frack its way to a more modern, competitive oil industry with all the technological savvy of the upstarts in North Dakota, and whether Bazhenov is the key.

    "Bazhenov is a huge formation. It covers half of western Siberia. I have seen maps that claim it is 22 times the size of the Bakken in North Dakota," said Richard Andersen, chief financial officer of Eurasia Drilling, Russia's biggest driller.

    But Andersen said it was "not homogenous" across western Siberia. "It may work very well in some areas and not in others. I would not say it will be condemned or proven in the next year. But we should get a view as to whether it will work well or not."

    Recent drilling by producers such as Salym Petroleum, a joint venture between Shell and Gazprom Neft, which operates in the group of fields where the Bazhenov was discovered, have yielded healthy flows of light, low-sulphur crude. It has also indicated the presence of microfractures in some areas which could help the oil flow out of the tight rock.

    TAX KEY

    The challenges to Russia's tight-oil revolution so far, however, have had little to do with geology.

    Efforts to establish joint drilling ventures have run up against post-Soviet legislation which does not recognize project operators, while cumbersome planning requirements have forced some producers to scale back their plans for this year.

    The biggest question of all is posed by the tax system. With lifting costs for a barrel of Bazhenov crude estimated at up to $40, the tax regime has been the main obstacle to its development as producers worked their way through cheaper conventional reserves.

    The Kremlin's willingness to loosen the state's grip on oil taxes - which skim 90 percent of the revenue from each barrel of export crude - underscore its interest in exploiting shale.

    But even with the prospect of a boost to the oil revenues that amount to 40 percent of the Russian budget, that willingness only goes so far.

    The government has offered a package of tax breaks which includes a sliding scale of breaks on Russia's revenue-based mineral extraction tax and targeted breaks on the development of Bazhenov and other shale deposits which are part of Rosneft's drilling ventures with ExxonMobil and Statoil.

    But the package - which was due to be approved on October 1 - has yet to reach parliament. Finance Ministry officials have assured investors that it will pass in time to come into effect next year after undergoing tweaks.

    Producers also face the expensive prospect of re-drilling their West Siberian fields to access the Bazhenov below, even though it could be tapped through existing wells.

    A boon to drillers such as Eurasia and Schlumberger but a drag on the economics of developing Russian shale, this is essentially an accounting measure to prevent fraudulent reporting of conventionally produced oil as new oil to claim tax breaks.

    "They are worried that suddenly 70 or 80 percent of Russia's oil is going to be tight oil," a source close to one of the exploration projects said.

    The proferred tax breaks may be enough to accelerate exploration of Bazhenov and other tight formations and allow Rosneft's drilling partnerships to proceed, but commercial production will probably require another round of tax reforms, the source added.

    The very low levels of rock permeability required to qualify for tax breaks also may rule out profitable development of some tight sandstone deposits on the edges of what the Energy Ministry has called the "grey area" between true shale and West Siberia's current, conventional plays.

    Of Russia's 26 billion metric tons of recoverable reserves, two-thirds or more are thought to be "tight", a share that is rising as Russia's easily tapped conventional reserves are depleted.

    "That is semantics," said Oleg Mikhailov, who once ran pilot projects in tight oil at TNK-BP and now works at mid-sized producer Bashneft.

    "What is easy today was tight yesterday. What is tight today with technology and a good tax regime will be easy tomorrow."

    gaurav
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    Re: Russian Economy General News: #1

    Post  gaurav on Sun Apr 07, 2013 3:56 pm

    The problem with Russia is some times the jokes become reality..(Tupolev.. Smile )

    UAC isalso having internal salary pressure. completely off topic though..
    Tupolev has done more work.. epps in "History" .. oh I just forgot that.. those 20 employees.. were only ads..?
    some times "AD's are surr... ree eal.."

    Your links are accurate but with "Technical Spin"..

    MY statistics are Dire with no techincal SPIN.. but ..

    But what your links say is approx same what I told..(with and without technical SPIN) ..

    you yourself have pointed out some dire conditions in Human resources..

    We have also known what sort of media is propagating what information.. so cant say much on that 3mil figure..
    offcourse I will criticse that figure..Damn.. Reasons well.. what can I say..

    We will wait and see if some more articles providing some what same lines of acute HR problems are coming..




    Well time tell what course does that defence industry.. take..


    Russia is a dying country .. it will have put forward its new generation.. which is not an easy task..

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    Re: Russian Economy General News: #1

    Post  Viktor on Sun Apr 07, 2013 5:01 pm

    I think Russia economy is doing just fine. With its 3.6% GDP growth they are growing at close at 4 times more speed than EU.

    Still things can be accelerated further.

    I think this new large oil and gas contracts with China, Russia accession with WTO etc will in a year or two start to show results.

    At the same time Russian MIC is growing larger than ever and Russian agriculture as well.

    Skolkovo project begun with its work just recently and soon we might expect Titanium Valley too. Russian IT sector is booming and

    Russian construction to. Russia is engaged in building numerous roads, bridges, hospitals, nurseries, sports centres and housing.

    Its concrete production is at level comparable with that of Soviet union. Nuclear industry is booming like there is no tomorrow and

    last year population fall was stopped and life expectancy is growing rapidly.

    There are numerous problems left of course but when one turns back to see what was accomplished one can see huge improvement over recent

    years.

    Economically Russia has one of the smallest debt in the world, huge cash reserves and highest increasing gold reserves. Small to none

    budget deficit and the only really problem is cash outflow from Russia that is shrinking with each passing year.

    West will soon find that there is no better place to invest than in Russia with huge return for money invested.

    One of the best things is Russian educational system that is still robust and still best at fundamental sciences in the world.

    Russia people are the most educated people at the world according to International Economic Cooperation and Development Organization

    which combined with highest natural resources in the world can not but give huge increase in country GDP growth.

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    Re: Russian Economy General News: #1

    Post  Sujoy on Sun Apr 07, 2013 5:37 pm

    Viktor wrote:I think Russia economy is doing just fine. With its 3.6% GDP growth they are growing at close at 4 times more speed than EU.

    True. Also, any developed country including Russia cannot grow at the same rate as a China or India for obvious reasons. That being said sectors like IT , nanotechnology , biotech grows at a faster rate than traditional sectors like power & gas . Once these industries start flourishing in Russia GDP growth will also increase .


    Viktor wrote:last year population fall was stopped and life expectancy is growing rapidly.

    This is very interesting Viktor . You mean the population of ethnic Russians/Slavs , other minorities are increasing ?

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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 7:11 pm

    gaurav wrote:The problem with Russia is some times the jokes become reality..(Tupolev.. Smile )

    Well if Tupolev is a joke then there are many aerospace company in the world that have worse project and history , the only organisation that can claim to have better experience then Tupolev even today would be Boeing and Airbus even they cant claim to build a bomber that Tupolev has to its credit.

    The best book on Tupolev would be Yefim Gordon on Tupolev but wiki can still give you a glimse of what they are

    http://en.wikipedia.org/wiki/Tupolev



    Your links are accurate but with "Technical Spin"..

    MY statistics are Dire with no techincal SPIN.. but ..

    But what your links say is approx same what I told..(with and without technical SPIN) ..

    you yourself have pointed out some dire conditions in Human resources..

    Well officially they admit they need more manpower because they need more manpower this decade compared to past two decade because they would be spending, In Military they are spending $700 billion plus and in civil aviation
    sector $177 billion. http://wireupdate.com/wires/16352/russia-to-spend-over-177-billion-on-aviation-in-next-decade/

    So they need more manpower which was not needed past 2 decade and something they cannot get from within.

    Nothing extraordinary even Airbus , Boeing and EU and US MIC employs thousand of skilled people from all over the world , so they are not doing some for the first time its something that happens as matter of fact every where.


    Russia is a dying country .. it will have put forward its new generation.. which is not an easy task.

    Russia is a dying country Laughing

    Thats what West said when SU broke up and for the next 2 decade after that , surprisingly they get better and are far more stable politically and economically.

    If Russian MIC is such a dying sector then wonder how they have a export portfolio of $46 billion second only to US.

    http://en.rian.ru/military_news/20130403/180422031/Putin-Says-Russias-Arms-Exports-Up-12-in-2012.html

    Putin also said that Russia currently supplies arms and military equipment to 66 countries, has concluded agreements on military and technical cooperation with 85 countries and its portfolio of orders for defense-related products currently stands at $46.3 billion.

    I guess because they are dying the third fourth in the list must be already dead Very Happy

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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 7:22 pm

    Sujoy wrote:This is very interesting Viktor . You mean the population of ethnic Russians/Slavs , other minorities are increasing ?

    Infact Russian population has shown positve growth in 2012 in over 2 decades

    http://www.forbes.com/sites/markadomanis/2012/11/29/russias-population-is-growing-for-the-first-time-since-the-early-1990s/

    Well new Rosstat data shows that from January through October 2012 the Russian population naturally grew by about 800 people. Compared with the relevant period in 2011, births are up by 6.5% and deaths are down by 1.5%. In other words, the population of the “dying bear” is growing even without accounting for immigration. This hasn’t happened since 1992, when the Soviet Union had only recently collapsed and the travails of the transition to a free market had barely begun.

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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 7:35 pm

    As far as economy goes Russia Economy is the only Economy growing in Europe , the only other European economy doing well is Germany which is also Russians largest trading partner.

    Russian advantage is 3-4 % GDP Growth , Lowest Debt ~ 12 % of GDP and large reserves of Gold and Forex.

    Ofcourse if Russia does deep structural reforms then it can do much better , so there is big scope to grow beyond the Oil Economy.

    Rest Europen economy is just a basket case , had Germany not been there to pull them up they would have been dustbin case with high Debt in most economy and negetive to minimal growth.

    US Economy is also gone to dogs with Debt Exceeding GDP and it keeps rising , other then the reason Crude in Opec countries are trading in dollars the USD would have lost all its shim.

    The only Economy that is doing well is that of China that has abudent reserves and grows 7 % annually.

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    Re: Russian Economy General News: #1

    Post  Werewolf on Sun Apr 07, 2013 8:07 pm

    Trust me German economy isn't that great as people may think.
    My government is insane and they cover up the real number of inflation, homeless and jobless with 1 euro jobs which is impossible to survive,with temporary worker (don't know if right translated) who work 12 hours and get paid like someone who works half of that time. They cover them up by putting a percantage of jobless people or homeless people in small low paid jobs and putting some percantage in barracks as kind of social "housing" to not to have them on homeless listed to have low homeless,jobless and inflation rate.

    2-4 years and Germany has equal conditions to Greece,Spain,Portugal.

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    Re: Russian Economy General News: #1

    Post  Austin on Sun Apr 07, 2013 8:20 pm

    Werewolf wrote:Trust me German economy isn't that great as people may think.

    It is great compared to rest of EU nation , Right now Germany is bearing the burden of EU nations which at some point looks needless.

    2-4 years and Germany has equal conditions to Greece,Spain,Portugal.

    If they continue to bail out EU and keeps burdening its tax payers and economy to keep bearing EU burden and if the rest of EU does not start growing then Germany will greatly suffer.

    In that case EU and Euro might colapase and Germany will emerge as the leader.

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    Re: Russian Economy General News: #1

    Post  Werewolf on Sun Apr 07, 2013 9:23 pm

    The Euro will colapse and there is no way to rescue it.
    It was never designed to be a success but to enrich the banks in whole Europe with one currency, where they never had the chance to make equal money in whole europe through all this diffrent currencies and economies, but with one currency they can lead to a total collapse which will and already had enriched the banks.
    Whole EU is one dictatorship, the countries have nothing to say about what they do anymore.
    They belong all to Brussels and ECB and through the ECM they have all to pay to "safe" countries while the money doesn't goes to countries but the banks.
    Greece had about 780 bln debts and in 2012 they "granted" about 700 bln Euros to greece and they have still huge debts and growing and growing. So where is the money gone?
    To banks and for projects that benefits companies not the country, not paying debts back to have a higher possiblity for more credits in future or refurbishing the economy sector, no the money is gone.

    EURO is a failure from first day and there are thousands of economy experts who predicted exact this bullshit scenario, like Dirk Müller, who is hated in mass-media when it comes to Euro and economy because he says the truth and today more and more people see what he has predicted.

    Firebird
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    Re: Russian Economy General News: #1

    Post  Firebird on Sun Apr 07, 2013 9:35 pm

    Werewolf wrote:The Euro will colapse and there is no way to rescue it.
    It was never designed to be a success but to enrich the banks in whole Europe with one currency, where they never had the chance to make equal money in whole europe through all this diffrent currencies and economies, but with one currency they can lead to a total collapse which will and already had enriched the banks.
    Whole EU is one dictatorship, the countries have nothing to say about what they do anymore.
    They belong all to Brussels and ECB and through the ECM they have all to pay to "safe" countries while the money doesn't goes to countries but the banks.
    Greece had about 780 bln debts and in 2012 they "granted" about 700 bln Euros to greece and they have still huge debts and growing and growing. So where is the money gone?
    To banks and for projects that benefits companies not the country, not paying debts back to have a higher possiblity for more credits in future or refurbishing the economy sector, no the money is gone.

    EURO is a failure from first day and there are thousands of economy experts who predicted exact this bullshit scenario, like Dirk Müller, who is hated in mass-media when it comes to Euro and economy because he says the truth and today more and more people see what he has predicted.

    I've got to agree. The Euro was invented by megalomaniac bureaucrats in alliance with the financially ignorant. The interesting question is how far the (mainly)German banks have benefitted/will benefit from it, before Euro's possible demise.

    The basic fact is, a currency rate has to be relative to a country's economic profile.
    Greece was agriculture, tourism and lower end manufacturing. To have a sky high Euro rate instead of the drachma was monumental idiocy.

    Europe's problems go deeper even than this. Globalisation and technology has meant countries doing more with less people. But we're startin g to see the disappearance of the younger middle classes around Europe. Even graduates from Oxford and Cambrdige in England are ending up working in McDonalds or on the dole. The fact is, the west gets weaker as former banana republics like India and China start to show prosperity

    Another aspect to this bizarre fad of over-globalisation is mass over immigration. This is starting to show disturbing effects.

    It remains to be seen how Russia develops. My hope is that Russia DOESNT take advice from the EU and US. There's the possiblity of a golden future for Russia, OR it could listen to the bizarre tripe coming out of Brussels and Washington and go down a wrong path...

    gaurav
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    Re: Russian Economy General News: #1

    Post  gaurav on Thu Apr 11, 2013 5:17 pm

    To Comrade .. AUSTIN.. Smile



    A reality check Russia GDP "growth" shrinking

    Russia GDP Growth shrinking

    I think ageing of population is driving Russia growth to ZERO.



    Russia’s Economics Ministry has lowered its 2013 forecast for the country’s GDP growth to 2.4 percent from 3.6 percent amid stagnating exports and faltering investment, Deputy Economics Minister Andrei Klepach said on Thursday.
    The ministry cut its GDP growth forecast after Russia’s exports, a key source of budget revenues, failed to demonstrate any growth in 2013 while fixed capital investment growth was just 4.6 percent, Klepach said.
    If the data for the first months of 2013 are extrapolated for the full year, Russia’s GDP growth is estimated at a mere 1.7 percent, Klepach said.
    The Economics Ministry also expects net capital outflow to reach $30-35 billion in 2013 compared with its original forecast of 0-$10 billion, Klepach said.
    Russia’s GDP grew only by 3.4 percent last year, the lowest since the deep recession of 2009, with weak demand for Russian exports in Europe.
    Russia's newly-appointed Central Bank chief Elvira Nabiullina said earlier this week Russia needed to rethink its commodity exports-based growth model, with a new emphasis on internal sources of development, diversification of the country’s raw material-based economy, increased investment and improvement in the investment climate.

    Austin
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    Re: Russian Economy General News: #1

    Post  Austin on Thu Apr 11, 2013 6:07 pm

    They need more structural reforms and privitisation to boost economic growth but most Russian citizen are happy with Stable Economy and lower growth because of experience of 90's Economic Reforms.

    The forecast is based on first quarter but there are 3 more to go , the final figure will be known only next year.

    All BRICS country have slowed down that includes even China and India ....hell Indian economy is in much bigger mess thanks to 8 years of screw up by UPA .....I hope people kick them out next year

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    Re: Russian Economy General News: #1

    Post  Austin on Sat Apr 13, 2013 10:11 am

    Will South Stream change EU-Russia relations?

    gaurav
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    Re: Russian Economy General News: #1

    Post  gaurav on Sat Apr 13, 2013 5:57 pm

    The blame is always put on Putin.

    Just see this link . What they forget that Russia was a "virtual" country for past decade.
    Russia was not a normal country.
    It needed huge oil and gas exports to some what compensate the staggering loss of population.



    There were no people to populate and of course no middle aged population to develop Russia.

    There was just no industry except some defense related exports for past 10 years.

    Now it is trying to "Gradually" develop in multi -direction , which in itself is another big misadventure by Russian leadership.(because of acute lack of young generation).

    That is why I was talking about Ukraine to enter Customs Union atleast it will give some breathing space to
    russian leadership for few years.
    In order to compte(in financial world) Russian people have deviated from traditional Russian Industry .
    Russia is filled with Vampire population .
    I mean which is of no use.They are either consultants , financial specialist, Investments bankers... I mean its crazy.
    Half of (Engeneering pool of Russia)works for U.S companies, other half for korean ,japanese etc . Sad



    Recession Imminent Warns Russian Economy Minister


    I think I am exagerating a bit. But some times .. they are okay.
    Putin also said Exaggerations are "normal" and to the point.
    They help to home in on the point of discussion.


    April 12 (RIA Novosti) - The Russian economy could slip into recession this coming fall unless measures
    to stimulate growth are urgently implemented, Economy Minister Andrei Belousov said on Friday.
    “We will propose economic stimulation measures,” he said, warning that otherwise Russia will see zero
    growth by the fall.
    “These measures are necessary because we have to get out of the situation we are now in, so as not to
    fall into recession,” Belousov said, adding that a meeting on the issue with President Vladimir Putin
    is due to take place in the near future.
    The ministry lowered its 2013 forecast for the country’s GDP growth to 2.4 percent from 3.6 percent amid
    stagnating exports and faltering investment, Deputy Economy Minister Andrei Klepach said on Thursday.
    The ministry also expects net capital outflow to reach $30-35 billion in 2013 compared with its original
    forecast of 0-$10 billion, Klepach said.
    Russia’s GDP grew only by 3.4 percent last year, the lowest since the deep recession of 2009, with weak
    demand for Russian exports in Europe.


    KomissarBojanchev
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    Re: Russian Economy General News: #1

    Post  KomissarBojanchev on Sat Apr 13, 2013 8:42 pm

    A little off topic but hwo is the situation with titanium mining? Are its quarries almost empty or are there still many titanium rich zones in Russia? Is it being exported or is it only for domestic industry and submarine building?

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    Re: Russian Economy General News: #1

    Post  GarryB on Sun Apr 14, 2013 2:20 am

    When most of the worlds economies are teetering or actually failing and requiring bailouts a small recession in Russia is nothing to fear. Constant continual growth is simply neither natural, healthy, nor sustainable.


    _________________
    “The West won the world not by the superiority of its ideas or values or religion […] but rather by its superiority in applying organized violence. Westerners often forget this fact; non-Westerners never do.”

    ― Samuel P. Huntington, The Clash of Civilizations and the Remaking of World Order

    Sujoy
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    Re: Russian Economy General News: #1

    Post  Sujoy on Sun Apr 14, 2013 9:28 am

    Why the Russian economy will not face any threat .



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    Re: Russian Economy General News: #1

    Post  medo on Sun Apr 14, 2013 12:35 pm

    Russian industry and agronomy production is growing and they sell less crude oil wood, etc, but more of their products, which have higher price in World's markets. Where is here recession? True, bankrupt EU and US will buy less, but Russia wisely reoriented its export economy on other markets like in Asia, Africa and Latin America, which are rich with natural resources and with population and where middle class is growing. Africa is poor, true, but Latin America have incredible potential and trade with states, like Brazil, Chile, Argentina,... on equal level, could quite quick replace EU market.

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