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    Russian Economy General News: #9

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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Wed Feb 14, 2018 5:30 pm

    We already talked about this and how it's not exactly clear or black and white. But nice try.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Wed Feb 14, 2018 9:34 pm

    Austin wrote:Medvedev confirmed: The state is not able to purchase Russian microelectronics

    https://defence.ru/article/medvedev-podtverdil-gosudarstvo-ne-v-sostoyanii-zakupit-rossiiskuyu-mikroelektroniku/

    God I hate sophistry.

    Medvedev confirmed that the Russian state is unable to be the go to market for Russian domestic IC production.
    As on the rest of the planet, private companies are going to have to find free markets to sink or swim.

    This is good news for Russia since the state will not be creating a microelectronics welfare regime which
    will remove the incentive for innovation and proper search for new markets.
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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Wed Feb 14, 2018 11:17 pm

    kvs wrote:
    Austin wrote:Medvedev confirmed: The state is not able to purchase Russian microelectronics

    https://defence.ru/article/medvedev-podtverdil-gosudarstvo-ne-v-sostoyanii-zakupit-rossiiskuyu-mikroelektroniku/

    God I hate sophistry.

    Medvedev confirmed that the Russian state is unable to be the go to market for Russian domestic IC production.
    As on the rest of the planet, private companies are going to have to find free markets to sink or swim.  

    This is good news for Russia since the state will not be creating a microelectronics welfare regime which
    will remove the incentive for innovation and proper search for new markets.

    There is once again little detail. So exactly what were they supposed to buy? What did they not buy? What did they buy instead? Did they buy anything? What was the intended use for? What sectors?

    Many are interested in Russia's IC's as evidence by Almaz Antey. It's rather getting annoying that people get hysterical or mad about something that there isn't really news about. Yes, they didn't buy 16B Rubles worth of Russian electronics. That's about all I got out of that article.
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Thu Feb 15, 2018 12:13 am

    kvs wrote:
    Austin wrote:Medvedev confirmed: The state is not able to purchase Russian microelectronics

    https://defence.ru/article/medvedev-podtverdil-gosudarstvo-ne-v-sostoyanii-zakupit-rossiiskuyu-mikroelektroniku/

    God I hate sophistry.

    Medvedev confirmed that the Russian state is unable to be the go to market for Russian domestic IC production.
    As on the rest of the planet, private companies are going to have to find free markets to sink or swim.  

    This is good news for Russia since the state will not be creating a microelectronics welfare regime which
    will remove the incentive for innovation and proper search for new markets.

    Actually not so good. Although state should not help forever but if you start with long lag behind at the same time fighting against "invisible hand of Sam's market" you NEED help.
    Till you are powerful enough to fight on your own. You can privatize later then if you want control to go to London or Washington.

    Medvedev talking about innovate or perish should perish first talking about results :-)



    The Central Bank will develop a certification program for the financial sector's cybersecurity by 2021


    MAGNITOGORSK, February 14. / TASS /. The Bank of Russia plans by 2021 to develop a program for attesting employees of information security units of Russian financial organizations. This was announced by Deputy Chairman of the Central Bank Ruslan Vesterovsky, speaking at the X Ural Forum on Information Security of the financial sector.

    "By 2021, we plan to develop a program of certification of specialists and heads of information security units of the credit and financial sector, who have been trained in higher education and retraining programs," he said.

    The task of the Central Bank will be to create a certification program similar to the current for the financial market professionals (brokers, dealers, portfolio managers and forex dealers). According to Vesterovsky, in the field of cybersecurity of the financial sector, it is necessary to create the same system of certification that will ensure the required level of training of specialists.

    "It is necessary to legalize the activities of organizations and specialists that provide cyber security in the financial and credit sector, and we will seriously focus on this," the deputy chairman of the Central Bank said.

    Together with the assessment of core competencies, certification will include knowledge metrics about the work of credit and financial institutions. "Cyber-security specialists must understand the specifics of the activity of the segment in which this security is provided," Vesterovsky emphasized.

    At first the program will be voluntary, in the future the Central Bank plans to make certification mandatory for all employees of information security services of Russian financial institutions.

    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4957848




    Putin and the Saudi King discussed the military technical cooperation and coordination in hydrocarbon markets
    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4958181
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Thu Feb 15, 2018 12:14 am

    miketheterrible wrote:

    Many are interested in Russia's IC's as evidence by Almaz Antey. It's rather getting annoying that people get hysterical or mad about something that there isn't really news about.  Yes, they didn't buy 16B Rubles worth of Russian electronics. That's about all I got out of that article.

    and DAT is the question parliamentarians should ask to Dima ad other liberal scum
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Thu Feb 15, 2018 1:20 am

    The government is already the primary buyer of military microprocessors. So the only avenue left is civilian hardware.
    The government cannot subsidize this since it destroys Russia's competitiveness. The civilian sector is clearly an emerging
    new market for Russian CPUs. These do-gooders want to f*ck it up.

    Russia politicians are grossly incompetent when conveying any message. This whole discussion is because the language
    used by Medvedev is so obscure.
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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Thu Feb 15, 2018 1:28 am

    kvs wrote:The government is already the primary buyer of military microprocessors.    So the only avenue left is civilian hardware.    
    The government cannot subsidize this since it destroys Russia's competitiveness.    The civilian sector is clearly an emerging
    new market for Russian CPUs.    These do-gooders want to f*ck it up.

    Russia politicians are grossly incompetent when conveying any message.   This whole discussion is because the language
    used by Medvedev is so obscure.  

    Well that's the thing. I don't think they know what they want, what they need and what they are getting. Individual entities are getting what they need. Law enforcement agencies are getting Russian machines. Kraftway is interested in making advanced workstations using Elbrus etc. I think this will have the intended needs.

    Problem is the end product. Everyone knows that only 1 company produces ready to go machines with Elbrus processor. But I don't know if it's en mass production. They go for ready to go Kraftway because all those machines are in mass production.

    Anyway, we are all speculating what they are talking about. Since I have no details from the article, it is useless to debate.

    Austin

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    Re: Russian Economy General News: #9

    Post  Austin on Thu Feb 15, 2018 7:06 am

    US Treasury has promised rapid sanctions against Russia
    VedomostiFebruary 14, 21:26
    Listen to this material


    The administration of US President Donald Trump is working on new sanctions against Russia. This was stated by the US Treasury Secretary Stephen Mnuchin at the hearings in the Senate.

    Sanctions should be expected in the near future, said Mnuchin. He did not specify anything more.

    In late January, Mnuchin had already promised new sanctions. This happened after the publication of the so-called "Kremlin report". This is a list of Russian officials and businessmen whom the US considers close to the Russian President Vladimir Putin. In the public report of only 210 people. The entry in this list is not subject to any restrictions or sanctions. However, some billionaires have already complained about the negative impact of the report.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Thu Feb 15, 2018 12:50 pm

    Austin wrote:US Treasury has promised rapid sanctions against Russia
    VedomostiFebruary 14, 21:26  
    Listen to this material
     

    The administration of US President Donald Trump is working on new sanctions against Russia. This was stated by the US Treasury Secretary Stephen Mnuchin at the hearings in the Senate.

    Sanctions should be expected in the near future, said Mnuchin. He did not specify anything more.

    In late January, Mnuchin had already promised new sanctions. This happened after the publication of the so-called "Kremlin report". This is a list of Russian officials and businessmen whom the US considers close to the Russian President Vladimir Putin. In the public report of only 210 people. The entry in this list is not subject to any restrictions or sanctions. However, some billionaires have already complained about the negative impact of the report.

    Posturing BS. You Yankee retards failed to damage Russia's economy with the previous rounds, but expect to succeed this time around.
    As one famous scientist said once: doing the same thing over and over and expecting a different result is the definition of insanity.

    The collective IQ of the US government is around 65.
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    ZoA

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    Re: Russian Economy General News: #9

    Post  ZoA on Thu Feb 15, 2018 7:40 pm

    Austin wrote:US Treasury has promised rapid sanctions against Russia
    VedomostiFebruary 14, 21:26  
    Listen to this material
     

    The administration of US President Donald Trump is working on new sanctions against Russia. This was stated by the US Treasury Secretary Stephen Mnuchin at the hearings in the Senate.

    Sanctions should be expected in the near future, said Mnuchin. He did not specify anything more.

    In late January, Mnuchin had already promised new sanctions. This happened after the publication of the so-called "Kremlin report". This is a list of Russian officials and businessmen whom the US considers close to the Russian President Vladimir Putin. In the public report of only 210 people. The entry in this list is not subject to any restrictions or sanctions. However, some billionaires have already complained about the negative impact of the report.

    If one needs evidence Trump is Putin's poppet this is it Laughing

    It is absolutely incredible how US oligarchy is so oblivious those "sanctions" are extremely beneficial for Russia, and especially for Russia's siloviki faction as it directly hits their liberal and globalist opposition. One of the biggest problems of Russia is capital outflow out of Russia to US, EU and associated tax heavens. Russia should have long time ago imposed capital control regime to prevent this capital outflow, however due to interest of liberal globalist faction within Russian government there was no real possibility to impose such controls.

    But then EU and US came to the rescue by stupidly targeting that same liberal globalist faction and their property. First round of this self defeating cretinism came from EU that stupidly looted Russian oligarch's deposits from Cyprious banks, Next US and UK started to target Russian liberal oligarchs an their property in UK ind US. Consequently Russian liberal oligarchs increasingly started to view EU and US as unreliable place to deposit their ill gotten loot, motivating them to leave their capital in the Russia.

    Beneficial consequences were immediately obvious back in 2014 when Putin mentioned in one interview that following imposition of "sanctions" Russia, for the first time in half a decade,  had  net positive capital inflow in the the country, obviously caused by fear of Russian globalist faction that their capital might get looted by US and EU if they leave it within their reach. Just last year Putin was deliberately stoking those fears by publicly "warning" Russian oligarchs their property might be targeted by new US "sanctions".

    Now benefits of those sanctions are visible across Russia. Most notable is that despite utterly disastrous monetary policy of RCB Russia was able to maintain full employment and stable economy. This was largely the consequence of oligarchs investing their capital in Russia industry and manufacturing instead of dumping it to US, EU, or offshore havens that might be targeted by US or EU.

    In addition of already mentioned 2 benefits of "sanctions" in reducing strength of Russia's globalist liberal oligarchy and discouraging capital outflows out of Russia, there is also 3th benefit of forcing that liberal oligarchy to increasingly abandon their globalist habits and beliefs. I think this is best illustrated by this post made by PapaDragon:

    http://www.russiadefence.net/t347p75-education-in-russia-news#216088

    In article he liked there is large number of very interesting information. like that during last few yeas number of Russian oligarch children attending UK elite schools has drooped by half, that even most prominent liberal oligarchs like German Gref are investing their money in Russia, in this case in elite private school, and that even such liberal globalist expect that Russian elite will increasingly educate their children in Russia instead of abroad. And this is just a small illustration in one small area, such as education,  of actually much wider phenomena  of how those sanctions are in fact extremely beneficial for Russia.
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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Thu Feb 15, 2018 10:53 pm

    Somewhere in Russia some oligarches is building some kind of University with all the bells and whistles.while I think they are assholes, at least the money will stay inside.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Fri Feb 16, 2018 12:02 am

    miketheterrible wrote:Somewhere in Russia some oligarches is building some kind of University with all the bells and whistles.while I think they are assholes, at least the money will stay inside.

    The trick is that all the big time rich donors around the planet are crooks or their families got the wealth by dirty means. Russians need
    to outgrow the Cold War propaganda about squeaky clean western capitalists. Capitalists behave as long as there is a strong, independent
    national government to bring them to heel.

    Of course, mom and pop grocery store owners do not fit the super rich category even if they fancy themselves as capitalists.

    Karl Haushofer

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    Re: Russian Economy General News: #9

    Post  Karl Haushofer on Fri Feb 16, 2018 9:38 am

    Russia sharply increased its investment in US government bonds: https://lenta.ru/news/2018/02/16/us_rus/

    In 2017 Russian investments in US government bonds increased by 19%, to 102 billion dollars.

    Russia is playing with huge risks.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Fri Feb 16, 2018 1:24 pm

    Karl Haushofer wrote:Russia sharply increased its investment in US government bonds: https://lenta.ru/news/2018/02/16/us_rus/

    In 2017 Russian investments in US government bonds increased by 19%, to 102 billion dollars.

    Russia is playing with huge risks.

    Russia can afford the loss. The US can't afford the destruction of its image as a safe haven for money. This is Russia
    trolling Uncle Scumbag.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Fri Feb 16, 2018 2:05 pm

    https://russia-insider.com/en/russias-clueless-central-bank-starving-economy-crazy-high-interest-rates/ri22545

    Last Friday the bank lowered its benchmark lending rate 25 basis points to 7.50%.

    And in a completely counter-intuitive turn of events, the ruble strengthened as a result.

    But what is so noteworthy is how commonplace that reaction from the ruble to a central bank rate cut is.

    It tells you just how starved the Russian economy is for its own currency. The ruble is supposed to drop on increased supply, which is what lower rates imply. When, in fact, the opposite occurred. Demand for the ruble rose to because borrowing costs were lower.

    This speaks to just how much the Bank of Russia’s policies are holding back what should be a much more robust expansion at this point.

    Overly tight interest rates are just as bad as overly accommodative rates. They both bias economic investment along the wrong points in the structure of production, by mis-pricing risk.

    The monetarist 5th column at the CBR needs to be shot.
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    ZoA

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    Re: Russian Economy General News: #9

    Post  ZoA on Fri Feb 16, 2018 4:39 pm

    kvs wrote:

    The monetarist 5th column at the CBR needs to be shot.

    QFT
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    Kimppis

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    Re: Russian Economy General News: #9

    Post  Kimppis on Fri Feb 16, 2018 10:09 pm

    That's very good article. RCB is not intentionally hurting the Russian economy. Those people just simply think that the economy is much "weaker" than it actually is. They believe in their own and Western neoliberal propaganda. IMO, even that wasn't absolutely clear before Q3 2017, but now it's undeniable. That slowdown shouldn't have happened.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Fri Feb 16, 2018 10:30 pm

    The CBR is setting up Russia for inflationary instability. They have artificially driven the CPI below 3% which will result in delayed surge
    upward in the near future. Of course, if these clowns are still in charge they will use the inflation they generated as a pretext for more
    monetarist voodoo which will keep Russia from seeing proper growth and recovery.

    Putin needs to get his shit together and purge these slimebags. I would fully support him if he used dirty tricks to do it. For example,
    starting a campaign, via loyalists, to criticize the CBR and build up into a chorus of calls for house cleaning. He can't let some power
    balancing between oligarch factions allow this crap to continue. If there is some major faction that supports the CBR in its current policy,
    then they are traitors and need to be squashed. Putin has enough power to do this. He managed it back during his first term when he
    was in a much weaker position.

    If Putin fails to act, then he will have flushed his legacy down the toilet and given NATO a valuable gift. The worms at the CBR are directly
    impacting tax revenues and hence Russia's ability to retool its military. They are an existential national security threat.
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    JohninMK

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    Re: Russian Economy General News: #9

    Post  JohninMK on Sat Feb 17, 2018 12:35 pm

    Russia rubbing its hands with glee at this positive boost to its demographics. This is one of the really big hidden gains to Russia of the events in Ukraine. Like all the other countries in Europe, Russia is faced with an ageing population but unlike those in the EU, apart possibly from Poland which is in a similar situation to Russia, it has had the good fortune to have had millions of similar culture/same language immigrants walk over their border. The EU has had to accept alien culture/no language immigrants in an attempt to solve the same problem, which is leading to a disaster.

    Were the Ukrainian situation to be an attempt by the US to impact adversely on Russia this is one area that has seriously not gone to plan. Drinks all round in the Kremlin on the Maiden anniversary I'd say.

    Saturday, February 17, 2018 - 12:00

    About 1.7 million Ukrainian citizens have applied to Russia since 2014 for obtaining Russian citizenship, refugee status, temporary asylum. This was stated on Thursday by Russia's permanent representative to the OSCE, Alexander Lukashevich.

    "Since April 1, 2014, about 1 million 700 thousand Ukrainian citizens have applied to the relevant bodies of Russia for obtaining legal status - Russian citizenship, refugee status, temporary asylum, temporary residence permit, etc. Even more Ukrainians regularly travel to Russia for earnings. Authorities come up with propaganda labels like "an aggressor country," but people vote with their feet," Lukashevich said at a meeting of the OSCE Permanent Council in Vienna.

    The Russian diplomat recalled in this connection with the fact that the conflict in Donbass began with the punitive operation of Kiev against its own population, which brought untold suffering to the inhabitants of the region.

    "Many were forced to flee, including to Russia," the Permanent Representative said.

    According to him, attempts to expose Russia as a side of the intra-Ukrainian conflict are an integral part of the policy of sabotaging the Minsk agreements, prolonging the conflict, preserving a hotbed of tension on the borders of the European Union and Russia, and creating competitive advantages for extra-regional powers.

    "All this is done at the expense of the peoples of Ukraine," he added.

    DONi News Agency
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Sat Feb 17, 2018 1:12 pm

    kvs wrote:The government is already the primary buyer of military microprocessors.    So the only avenue left is civilian hardware.    
    The government cannot subsidize this since it destroys Russia's competitiveness.    The civilian sector is clearly an emerging
    new market for Russian CPUs.    These do-gooders want to f*ck it up.

    Russia politicians are grossly incompetent when conveying any message.   This whole discussion is because the language
    used by Medvedev is so obscure.  


    I am frightend by inability to deliver results by Dima M. and Dima R.  The fun is that Dima M. is talking as this was not HIS task to oversee and overlook this programme. There is very weak excuse if Dima say,oh when they fucked up.  So Dvorkovitch and Dima what were doing then? Nastia Rybka on yacht party?



    The Industrial Development Fund may reduce interest rates on loans to 3 - 4%

    MOSCOW, February 16. / TASS /. The Industrial Development Fund plans to reduce loan rates for enterprises from 5% to 3 - 4%. This was in an interview with Business FM, Russian Industry and Trade Minister Denis Manturov said.

    "We have already started moving in this direction, so reducing the rate to 4% or 3% as already the base for greater interest and motivation of entrepreneurs is definitely not far off, that is, in the coming year we will definitely drop [the rate]," he added that he did not undertake to say whether all programs would reduce.

    The head of the Ministry of Industry and Trade recalled that this year the Industrial Development Fund launches a new program for developers in the field of the Internet of things (wireless technology that allows devices to transfer data to each other without human participation). Entrepreneurs will be able to get preferential loans at 1% per annum.

    The Industrial Development Fund was established in September 2014 to support enterprises by issuing loans at a minimum interest. Loans are provided on a competitive basis at a rate of 5% per annum for up to seven years in the amount of 50 million to 500 million rubles.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4967729



    Gazprom buys 95% of the necessary products from Russian producers
    The head of the company Alexey Miller said that 100% of pipes are purchased in Russia

    http://tass.ru/ekonomika/4968461
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Sat Feb 17, 2018 1:23 pm

    [quote="JohninMK"
    Were the Ukrainian situation to be an attempt by the US to impact adversely on Russia this is one area that has seriously not gone to plan. Drinks all round in the Kremlin on the Maiden anniversary I'd say.

    Saturday, February 17, 2018 - 12:00

    About 1.7 million Ukrainian citizens have applied to Russia since 2014 for obtaining Russian citizenship, refugee status, temporary asylum. This was stated on Thursday by Russia's permanent representative to the OSCE, Alexander Lukashevich.


    DONi News Agency
    [/quote]

    Well + 2,5 mln in Crimea in not bad at all. Still Russia needs +/- mln yearly best educated people to boost its status and economy. Unless suddenly average Russian fertility gets close to Nigerian one.
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    kvs

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    Re: Russian Economy General News: #9

    Post  kvs on Sat Feb 17, 2018 2:33 pm

    GunshipDemocracy wrote:


    The Industrial Development Fund may reduce interest rates on loans to 3 - 4%

    MOSCOW, February 16. / TASS /. The Industrial Development Fund plans to reduce loan rates for enterprises from 5% to 3 - 4%. This was in an interview with Business FM, Russian Industry and Trade Minister Denis Manturov said.

    "We have already started moving in this direction, so reducing the rate to 4% or 3% as already the base for greater interest and motivation of entrepreneurs is definitely not far off, that is, in the coming year we will definitely drop [the rate]," he added that he did not undertake to say whether all programs would reduce.

    The head of the Ministry of Industry and Trade recalled that this year the Industrial Development Fund launches a new program for developers in the field of the Internet of things (wireless technology that allows devices to transfer data to each other without human participation). Entrepreneurs will be able to get preferential loans at 1% per annum.

    The Industrial Development Fund was established in September 2014 to support enterprises by issuing loans at a minimum interest. Loans are provided on a competitive basis at a rate of 5% per annum for up to seven years in the amount of 50 million to 500 million rubles.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4967729

    Most excellent. This is a direct assault on the CBR. Yeltsin set up the CBR like the US Fed, a private entity that is barely accountable
    to the government but fully ideologized. If alternative financing structures are established and reach sufficient scale, they well
    flush the CBR down the toilet.
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    miketheterrible

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    Re: Russian Economy General News: #9

    Post  miketheterrible on Sat Feb 17, 2018 6:46 pm

    Agreed, this is great news. Although, I would disolve the national welfare fund, and put funds into this, as it is a guarantee growth along with having lots of money in form of investment.
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    GunshipDemocracy

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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Sun Feb 18, 2018 1:42 am

    kvs wrote:
    GunshipDemocracy wrote:


    The Industrial Development Fund may reduce interest rates on loans to 3 - 4%

    Most excellent.   This is a direct assault on the CBR.   Yeltsin set up the CBR like the US Fed, a private entity that is barely accountable
    to the government but fully ideologized.    If alternative financing structures are established and reach sufficient scale, they well
    flush the CBR down the toilet.  

    Or it is just possible due to low inflation due to CBR? well do you expect Vova doesn't really control CBR and could not change Nabiulina if shed do anything against his will? I seriously doubt.

    My point is that yes you CAN decrease % rate BUT you pay with something else. More money on market with leaky banking system and very inefficient management? look at electronics market and Dimas statement. There was money but nobody used it - state corps preferred to use western analogues! If you rain this system with cash you only loose it. On top of thsi people loose their savings (those small guys not offshore cheats) .

    And this is IMHO Vovas stance: first system solutions then money.
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    Re: Russian Economy General News: #9

    Post  GunshipDemocracy on Sun Feb 18, 2018 2:04 am

    miketheterrible wrote:Agreed, this is great news. Although, I would disolve the national welfare fund, and put funds into this, as it is a guarantee growth along with having lots of money in form of investment.

    That's true you need local source of money no tto beg on NY or London's SE. But for this AFAIK Russia will fist need to
    a) create large pension funds
    b) financial instruments like obligations, securities and so on

    Then you can internally invest money in Russia for better return then in offshore banks. Besides you can attract small guys to invest - and Russia's population deposits is



    Last line - Russian population banking deposits is about Ru 26,5 Trillions (~ USD 470 blns) . For period 2017-18 deposits grew: from 23,3 to 26,5 trillions rubles.
    Those are only deposits. Now imagine half deposit holders want to invest their money in economy. i guess this is the way Putin idea about development works.

    http://www.cbr.ru/statistics/UDStat.aspx?TblID=302-21

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