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    Russian Economy General News: #8

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    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Tue Sep 26, 2017 12:12 pm

    ========================================
    https://www.vedomosti.ru/economics/articles/2017/09/26/735271-minfin-fabriku-gosgarantii#/galleries/140737488967143/normal/1

    The amount reserved in the budget under state guarantees is now immediately classified as public debt. The Ministry of Finance proposes to change this rule, two federal officials say: state guarantees will become a national debt, when the credit line provided by them will open. This idea can reduce the federal debt, they say. A representative of the ministry confirmed: "The Ministry of Finance is already preparing amendments that will more accurately reflect the obligations under state guarantees."

    By the end of 2017 the state debt, according to preliminary estimates, will reach 12.6 trillion rubles. (13.6% of GDP). Under the draft law on the federal budget for 2018-2020. in 2018, the debt will grow to 15.3 trillion, by 2020 - up to 17.8 trillion rubles. (16.2% of GDP).

    Officials and the president are proud of Russia's low debt, but the debt will grow due to the issuance of state guarantees, the Finance Ministry wrote in the "Guidelines for Debt Policy for 2017-2019."

    ====================================

    So GDP by end of

    2017 -- 92.5 Trillion Rub
    2020 -- 109 trillion Rub


    Last edited by Austin on Wed Sep 27, 2017 8:02 pm; edited 1 time in total

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Tue Sep 26, 2017 12:13 pm

    Kremlin to launch massive infrastructure projects in 2018

    http://www.intellinews.com/kremlin-to-launch-massive-infrastructure-projects-in-2018-129318/?source=russia

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Wed Sep 27, 2017 7:45 am

    Russia and China quietly build business bonds

    https://www.ft.com/content/38f0ce22-9dd7-11e7-8cd4-932067fbf946?mhq5j=e6

    There has been no shortage of big investment promises each time a Chinese government delegation has visited Moscow in recent years, but concrete deals have often been lacking.

    So the $9.1bn stumped up by CEFC China Energy this month for a 14.16 per cent stake in Russian oil producer Rosneft was a welcome surprise for those keen for China to become a big investor in Russia.

    As one of the largest Chinese investments in Russia and the second-largest oil and gas acquisition by a Chinese company, it strengthens the bonds between two of the world’s biggest producers and consumers of energy, at a time when relations between Moscow and the west are increasingly sour.

    It also indicates that business relationships between China and Russia are maturing. 

    “We think we will see increased energy co-operation through corporate partnerships between both countries,” said Alejandro Demichelis, director at boutique investment bank Hannam & Partners in London. “Corporate partnerships with China are one of the very few alternatives still open to Russian players to finance their expansion ambitions.” 

    “The fact that the first large deal done by a Chinese company . . . is with Rosneft — arguably the closest Russian company to Mr Putin — shows the seriousness of the partnership push.”

    CEFC will buy the stake from a consortium controlled by mining company Glencore and the Qatar Investment Authority, restructuring a complex and opaque transaction last year that highlighted the difficulties for western groups investing in Russian companies targeted by sanctions.



    The deal will give CEFC access to oilfields in eastern Russia close to the Chinese border and is the first time a Chinese company has taken a stake in one of the most important businesses controlled by the Kremlin. 

    Rosneft chief executive Igor Sechin said he was “happy that it was specifically a Chinese corporation” that had bought a stake. CEFC chairman Ye Jianming said the deal “will inject new energy” into the bilateral relationship. 

    “This deal and the wider relationship makes sense for both sides,” said a person involved in the transaction. “Russia wants cash, and the Chinese want good assets.” 

    Russian natural resources offer long-term supply opportunities for China just across its northern border, while Chinese cash offers Moscow an alternative to US and European investors. Russia’s increasing need as western sanctions have become tougher also makes it a buyer’s market for Chinese corporates. 

    In May, a Chinese consortium led by Fosun agreed to buy as much as 15 per cent of Polyus, Russia’s largest gold producer, then in June, Beijing Gas Group bought 20 per cent of Rosneft’s Verkhnechonskneftegaz — one of eastern Siberia’s biggest oil and gasfields — for $1.1bn. 

    CEFC is also in talks to acquire a stake in Russian hydropower and aluminium company EN+ as a cornerstone investor in the group's planned initial public offering. 

    “It used to be really hard to do business with Russia. Because they are a resources-rich country, they wouldn't give an inch,” says Lin Boqiang, an energy expert at Xiamen University. “But now it's a lot easier. Because of the market conditions, they need it more and it's become a lot easier.” 

    “It’s a big opportunity.”

    Russia has long looked to China as a source of foreign investment, and has intensified its efforts since EU and US sanctions have cut off funding to some of the country’s largest banks and companies.

    “Investors have started to look more to Russia because assets are so cheap, and political momentum is there, but are still very cautious,” says Alexander Gabuev, chair of the Russia in Asia-Pacific program at the Carnegie Moscow Center. 

    “The recent CEFC agreement with Rosneft is viewed in China as a deal more about politics than business,” Mr Gabuev adds. “The magnitude of the deal and readiness of Igor Sechin to cede control over a large stake in Rosneft have caused people in the Chinese oil industry to raise their eyebrows.” 

    Chinese lenders also stepped in to provide funding to Yamal LNG, a major Arctic gas project by Russia’s Novatek and France’s Total after its project financing was hit by sanctions, and last year Bank of China agreed to loan €2bn to Kremlin-controlled Gazprom, which is building the Power of Siberia pipeline that will export $400bn of gas to China through 2050. 

    In July, during Chinese President Xi Jinping’s state visit to Moscow, China Development Bank agreed to provide $11bn to two Russian investment groups, while in the past four months a joint Russia-China Investment Fund has announced plans to invest in infrastructure development, tourism and healthcare.

    “Russia’s credibility, creditworthiness still isn’t high but it’s true, they are more open and their attitude has changed,” a senior Chinese oil executive says. “China can get the oil or gas by pipeline and the resources are a known quantity. It's a better bet than taking the same amount of money to Africa or Venezuela.”

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Wed Sep 27, 2017 1:58 pm

    Total amount of Russian defense contractor's export contracts reaches $44 bln

    More:
    http://tass.com/defense/967733


    BTW can some one tell me if Russia Spends $1 to do something what is the US equivalent of that based on PPP ?

    I was thinking of $44 billion for Russia in Defence Export would be how much equivalent for US based on PPP ?

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Wed Sep 27, 2017 2:01 pm

    In Latest WEF Competitivensss Ranking Russia Jumped by 5 Positions to 38th Rank

    Russia improved its competitiveness indicators in the ranking of 137 countries, rising to five positions - to 38th place, according to a report on global competitiveness in 2017-2018, prepared by the World Economic Forum (WEF).

    "The Russian Federation (38th place) has risen to five positions, mainly thanks to the (macroeconomic situation), recovering strongly after the recession of 2015-16," the document says.


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    kvs

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    Re: Russian Economy General News: #8

    Post  kvs on Wed Sep 27, 2017 11:40 pm

    Austin wrote:In Latest WEF Competitivensss Ranking Russia Jumped by 5 Positions to 38th Rank

    Russia improved its competitiveness indicators in the ranking of 137 countries, rising to five positions - to 38th place, according to a report on global competitiveness in 2017-2018, prepared by the World Economic Forum (WEF).

    "The Russian Federation (38th place) has risen to five positions, mainly thanks to the (macroeconomic situation), recovering strongly after the recession of 2015-16," the document says.



    Sorry, but such ranking are for retards.    Russia today is extremely competitive.   Even the textile industry and the production of
    clothing and shoes for export are making a comeback.     Look at Appendix A of the report.    It defines 5 categories of economic
    development based on GDP per capita (1: factor driven (stage 1), 2: stage 1 to 2 transition , 3: efficiency driven (stage 2),
    4: stage 2 to 3 transition, and 5: innovation driven (stage 3).).   These categories are given given ad hoc weight factors for:
    basic requirements, efficiency enhancers and innovation+sophistication factors.    Russia is lumped as a stage 2 economy in spite
    of the fact that its military, aerospace, automotive, and other manufacturing industries are innovative.   Russia does not just
    import parts from stage 3 economies to assemble products.   It designs unique and world leading products.    So at worst Russia
    should have been in category #4 and not #3.    Look at the other countries in stage 2: Albania, Guatemala, Georgia, Jamaica, etc.
    This report is utter rubbish and I won't even bother discussing the other metrics.
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    kvs

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    Re: Russian Economy General News: #8

    Post  kvs on Wed Sep 27, 2017 11:46 pm

    Austin wrote:Total amount of Russian defense contractor's export contracts reaches $44 bln

    More:
    http://tass.com/defense/967733


    BTW can some one tell me if Russia Spends $1 to do something what is the US equivalent of that based on PPP ?

    I was thinking of $44 billion for Russia in Defence Export would be how much equivalent for US based on PPP ?


    Taking nominal to PPP adjusted the factor would be about 2. So $44 billion in exports is more like $88 billion. But unfortunately
    the PPP adjustment is biased to the civilian sector. For the military sector the real PPP factor is likely over 4. I have posted
    on this already. Russia builds six project 636.3 diesel-electric boats for the price of 1 equivalent by western makers. A PPP
    factor of 6 is likely on the high side, but a factor of 2 is simply wrong. A first guess is 4 based on other cases and not just
    submarines.

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Thu Sep 28, 2017 2:52 pm

    kvs wrote:
    Austin wrote:Total amount of Russian defense contractor's export contracts reaches $44 bln

    More:
    http://tass.com/defense/967733


    BTW can some one tell me if Russia Spends $1 to do something what is the US equivalent of that based on PPP ?

    I was thinking of $44 billion for Russia in Defence Export would be how much equivalent for US based on PPP ?


    Taking nominal to PPP adjusted the factor would be about 2. So $44 billion in exports is more like $88 billion. But unfortunately
    the PPP adjustment is biased to the civilian sector. For the military sector the real PPP factor is likely over 4. I have posted
    on this already. Russia builds six project 636.3 diesel-electric boats for the price of 1 equivalent by western makers. A PPP
    factor of 6 is likely on the high side, but a factor of 2 is simply wrong. A first guess is 4 based on other cases and not just
    submarines.

    Yes the kind of money Russia spends and the technology product it makes which is as good as any western system and in many cases superior to them makes me think they are very competitive.

    I remember once putin said for every $10 or $8 US spends Russia has to spend $1 to remain competitive.

    I do hope they dont cut spending on SAP 2018-2025 and Space program as these areas besides few others Russia remain second to none , So cutting spending is like beating your own wife
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    franco

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    Re: Russian Economy General News: #8

    Post  franco on Thu Sep 28, 2017 5:44 pm

    Russian ruble cutting oil dependence, but headwinds still ahead


    https://www.rt.com/business/404871-russia-ruble-oil-dependence/
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    gaurav

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    Re: Russian Economy General News: #8

    Post  gaurav on Fri Sep 29, 2017 7:12 am

    Deepening Demographic crisis undermining Russian Deep state


    Russia labour force participation
    Despite massive efforts on part of Russian deep state to increase economy (without people eh ehe he) , threats loom of 10 percent GDP write/cut off.

    See this is not western media hype but details from Russian gov ,ministers , top deep state officials.  Cool

    September 27, 2017 12:46 GMT
    MOSCOW -- Many advanced economies are wondering how breakthroughs in technology could leave whole swaths of the population unemployed,
    but in Russia the government is pondering how to fill jobs with a dramatically shrinking work force.

    Economy Minister Maksim Oreshkin this week called Russia's demographic situation "one of the most difficult in the world," saying that in the
    next five to six years "we are going to lose approximately 800,000 working-age people from the demographic structure every year."

    Speaking at Sberbank's Corporate University on September 25, Oreshkin cast it as a knock-on effect of the 1990s, when birthrates plunged
    following the Soviet breakup that brought political freedom, but also economic hardship, rising crime, and a collapse of welfare.

    "The lowest birthrate in the country was reached in 1999, and these people are now 18 years old; they are entering the work force. This
    generation is very small," Oreshkin said in comments reported by state news agency RIA Novosti. According to Oreshkin, the
    working-age population will contract by 4.8 million over the next six years.

    Kremlin Narrative Undermined

    The continued workforce decline in the country of just over 140 million would likely harm efforts to spur economic growth
    after a deep two-year recession, and also undermines the Kremlin narrative that Russia is beating a slow-burning demographic
    crisis that dates back to the Soviet Union, when its demography was deformed by tumultuous events, high mortality, and low-life expectancy.

    "The challenge is, of course, serious, but the question is how to respond to this challenge," said Anatoly Vishnevsky, director
    of the Moscow-based Demography Institute at the Higher School of Economics. "In some form, it will probably require a
    greater flow of migrants to fill the deficit on the labor market. The second kind of answer is labor productivity, which is not very high with us."




    Does Russia China partnership (without people) compensate this ..? Cool
    Dmitry Kulikov, an expert at the Analytical Credit Rating Agency, told the state news agency RIA Novosti that the fall in the work force
    combined with lower migration flows could shave 0.4 percent potential growth from Russia's economy every year.

    Vishnevsky, however, doesn't believe raising the retirement age would alleviate the problem. "Old people in no circumstances can replace the
    young," he said. "They are not effective workers. They cannot master new technology. So if your entire work force gets older, it's not clear
    what the effect will be."

    He also noted how a policy of attracting labor migrants from Central Asia or elsewhere might risk inflaming nationalist sentiment.
    "It's another matter that Russia is not very hospitable toward migrants," he said. "There is fairly strong anti-migrant sentiment,
    so it's difficult to say how the situation will develop."

    More than 10 million labor migrants are estimated to work in Russia.

    ATLASCUB

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    Re: Russian Economy General News: #8

    Post  ATLASCUB on Fri Sep 29, 2017 11:07 am

    https://www.rt.com/business/404985-citi-russia-leave-sanctions/

    The Russian branch of American bank Citi has significantly cut its operations, reports Kommersant daily. Experts believe the lender is preparing to leave the Russian market should the relations between Moscow and Washington deteriorate further.

    Highly interesting.

    par far

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    Re: Russian Economy General News: #8

    Post  par far on Fri Sep 29, 2017 1:35 pm

    gaurav wrote:Deepening Demographic crisis undermining Russian Deep state


    Russia labour force participation
    Despite massive efforts on part of Russian deep state to increase economy (without people eh ehe he) , threats loom of 10 percent GDP write/cut off.

    See this is not western media hype but details from Russian gov ,ministers , top deep state officials.  Cool

    September 27, 2017 12:46 GMT
    MOSCOW -- Many advanced economies are wondering how breakthroughs in technology could leave whole swaths of the population unemployed,
    but in Russia the government is pondering how to fill jobs with a dramatically shrinking work force.

    Economy Minister Maksim Oreshkin this week called Russia's demographic situation "one of the most difficult in the world," saying that in the
    next five to six years "we are going to lose approximately 800,000 working-age people from the demographic structure every year."

    Speaking at Sberbank's Corporate University on September 25, Oreshkin cast it as a knock-on effect of the 1990s, when birthrates plunged
    following the Soviet breakup that brought political freedom, but also economic hardship, rising crime, and a collapse of welfare.

    "The lowest birthrate in the country was reached in 1999, and these people are now 18 years old; they are entering the work force. This
    generation is very small," Oreshkin said in comments reported by state news agency RIA Novosti. According to Oreshkin, the
    working-age population will contract by 4.8 million over the next six years.

    Kremlin Narrative Undermined

    The continued workforce decline in the country of just over 140 million would likely harm efforts to spur economic growth
    after a deep two-year recession, and also undermines the Kremlin narrative that Russia is beating a slow-burning demographic
    crisis that dates back to the Soviet Union, when its demography was deformed by tumultuous events, high mortality, and low-life expectancy.

    "The challenge is, of course, serious, but the question is how to respond to this challenge," said Anatoly Vishnevsky, director
    of the Moscow-based Demography Institute at the Higher School of Economics. "In some form, it will probably require a
    greater flow of migrants to fill the deficit on the labor market. The second kind of answer is labor productivity, which is not very high with us."




    Does Russia China partnership (without people) compensate this ..? Cool
    Dmitry Kulikov, an expert at the Analytical Credit Rating Agency, told the state news agency RIA Novosti that the fall in the work force
    combined with lower migration flows could shave 0.4 percent potential growth from Russia's economy every year.

    Vishnevsky, however, doesn't believe raising the retirement age would alleviate the problem. "Old people in no circumstances can replace the
    young," he said. "They are not effective workers. They cannot master new technology. So if your entire work force gets older, it's not clear
    what the effect will be."

    He also noted how a policy of attracting labor migrants from Central Asia or elsewhere might risk inflaming nationalist sentiment.
    "It's another matter that Russia is not very hospitable toward migrants," he said. "There is fairly strong anti-migrant sentiment,
    so it's difficult to say how the situation will develop."

    More than 10 million labor migrants are estimated to work in Russia.


    I don't think/hope that the Russian government see this as a short term issue, but this is actually a long term problem(don't worry about the next 5- 10 years, worry about the next 15-20 years). The Russian government should try to increase the native Russian population and not get migrants, this will hurt short term but will be good long term. Promote marriage, family, going to Church, so mostly everything the west hates.

    Project Canada

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    Re: Russian Economy General News: #8

    Post  Project Canada on Fri Sep 29, 2017 4:15 pm

    par far wrote:

    I don't think/hope that the Russian government see this as a short term issue, but this is actually a long term problem(don't worry about the next 5- 10 years, worry about the next 15-20 years). The Russian government should try to increase the native Russian population and not get migrants, this will hurt short term but will be good long term. Promote marriage, family, going to Church, so mostly everything the west hates.

    Completely agree, allowing non slavic migrants will only cause more demographic troubles down the road. Russia cannot risk this. And in addition, there should also be a state program that will promote Russification and Rus Orthodox Christianization of its minority populations.

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Fri Sep 29, 2017 5:17 pm

    ATLASCUB wrote:https://www.rt.com/business/404985-citi-russia-leave-sanctions/

    The Russian branch of American bank Citi has significantly cut its operations, reports Kommersant daily. Experts believe the lender is preparing to leave the Russian market should the relations between Moscow and Washington deteriorate further.

    Highly interesting.

    It better they move out the other banks can help the Russian customers ..why let Citi make profit from Russian bussiness and not some Russian Private or Public banks ?
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    miketheterrible

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    Re: Russian Economy General News: #8

    Post  miketheterrible on Fri Sep 29, 2017 6:27 pm

    The 90s effect of Russia's population is bearing rotten fruit. But something that they will have to pass. The good thing is that a lot of Russians from west are returning home, and many of them are educated. The one issue though is the reporting nature of things. Russians live in many post soviet countries, but they are classified as this or that ex patriot. They don't necessarily become a problem. Only the national Uzbeks.
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    Singular_Transform

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    Re: Russian Economy General News: #8

    Post  Singular_Transform on Fri Sep 29, 2017 6:35 pm

    gaurav wrote:Deepening Demographic crisis undermining Russian Deep state


    Russia labour force participation
    Despite massive efforts on part of Russian deep state to increase economy (without people eh ehe he) , threats loom of 10 percent GDP write/cut off.

    See this is not western media hype but details from Russian gov ,ministers , top deep state officials.  Cool

    Mate, have you saw the demographic profile of other countries?


    Russia has better demographics profile than say Japan, korea , china ,germany ,italy. .

    The real problem is the retirement age , it is 5-10 year lower in russia than in other countries, means bigger part of the population can stop to work.

    But this problem is easy to solve.

    And Russia has the advantage of the big pool of Russian speakers abroad who can migrate to ease the labour issues. Example Korea or Japan or Germany hasn't got this pool of workers.
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    Big_Gazza

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    Re: Russian Economy General News: #8

    Post  Big_Gazza on Sat Sep 30, 2017 10:41 am

    gaurav wrote:Deepening Demographic crisis undermining Russian Deep state
    Russia labour force participation

    Radio Free Europe? FFS, might as well read the CIA Times or Banderite Daily.... The quotes of Russian officials are real (though no context is quoted) but the narrative is pure anti-Russia drivel as usual. These clowns are mining the great bulk of international and Russian media desperately searching for nuggets of bad news that they can stitch together into a Chicken-Little "the sky is falling and its all Putins fault!!" BS agitprop screed.

    Why do people repeat this garbage?...

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Sun Oct 01, 2017 9:48 am

    Russian Finance Ministry publishes ruble exchange rate forecast for next 20 years

    http://vestnikkavkaza.net/news/Russian-Finance-Ministry-publishes-ruble-exchange-rate-forecast-for-next-20-years.html

    Russia's Finance Ministry published forecast of main parameters of the Russian economy for a long-term period. According to this data, average dollar exchange rate will rise to 82.5 rubles in 2031-2035. It is reported that this data is included in the draft long-term budget forecast, presented by the Ministry to the State Duma together with budget.

    However, the Ministry noted that it was talking about the nominal exchange rate, whereas the real effective ruble exchange rate will be "relatively stable". A serious increase in the nominal exchange rate of the dollar is explained by "inflation differential", in other words, difference in the prices growth rates in Russia and the United States.

    It is reported that in 2017-2020 the average nominal dollar exchange rate will be 64.8 rubles, in the next five-years - 71.5 rubles, in 2026-2030 - 77.1 rubles.

    Overall, according to basic scenario growth of the global economy will slow down. Russia's GDP growth rate will be around 2.3-2.4% in 2021-2035.

    According to the Finance Ministry, domestic demand will be the main driver of economic growth. In addition, due to relatively low interest rates and "predictable environment," an increase in investment activity is also expected.

    According to a conservative scenario, the US currency will grow from 68.4 rubles in 2017-2020 to 84.2 rubles in 2031-2035. This forecast takes negative external shocks effect on the Russian economy into account.

    Third scenario predicts that for the specified period the dollar will be traded at 75.6 rubles. External conditions will remain similar to the basic scenario, but a set of government measures aimed at eliminating constraints on production will create conditions for the growth of the Russian economy at a rate not lower than the world average.

    1050 views

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Sun Oct 01, 2017 10:02 am

    Yuan-denominated futures would allow crude exporters to dodge US sanctions

    China aims for dollar-free oil trade

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Sun Oct 01, 2017 10:03 am

    ^^ Looks like Best Bet for Russia , Join China and Sell Energy Products in Yuan atleast 40-50 % of their energy products
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    GarryB

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    Re: Russian Economy General News: #8

    Post  GarryB on Mon Oct 02, 2017 3:48 am

    Would be very funny if US sanctions forced countries to stop using the US dollar as a trading currency....
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    AlfaT8

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    Re: Russian Economy General News: #8

    Post  AlfaT8 on Mon Oct 02, 2017 4:28 am

    GarryB wrote:Would be very funny if US sanctions forced countries to stop using the US dollar as a trading currency....

    Ohh the irony. Laughing
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    d_taddei2

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    Re: Russian Economy General News: #8

    Post  d_taddei2 on Mon Oct 02, 2017 10:51 pm

    Russian Prime Minister Dmitry Medvedev on Monday signed a government decree on the establishment of four new accelerated development territories in the country


    https://sputniknews.com/russia/201710021057884553-russia-accelerated-development-government/

    Austin

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    Re: Russian Economy General News: #8

    Post  Austin on Thu Oct 05, 2017 10:08 am

    Kudrin estimated the damage to Russia from the militarized budget

    Redistribution of expenses would increase the economy in 20-30 years by almost a quarter

    The economy would already grow faster today, if the expenses of the entire state in 2011-2017. were distributed more efficiently, according to the article of the chairman of the Center for Strategic Research (CSR) Alexei Kudrin and director of the Center for International Trade Studies of the Russian Academy of Science and Technology Alexander Knobel.

    Expenditure on education for this period decreased from 3.7% to 3.5% of GDP, for health and sports - from 3.5% to 3.3%, for security and law enforcement from 2.5% to 2.3%. But the defense grew from 2.5 to 3.1% of GDP, especially in 2014-2016: from 3.2 to 4.4%. According to the authors of the article, such a redistribution of costs annually deprives the economy of 0.3 pp growth rates.

    In early September, Kudrin published an article that revealed part of Russia's development strategy until 2024, presented by the CSR to President Vladimir Putin. The key proposal is a budget maneuver: to increase spending on education, healthcare, road construction and transportation by 0.9%, 0.7% and 0.9%, respectively, while cutting spending on security forces (by 0.5%) and defense (by 0 , 3%). Such a maneuver Kudrin proposed back in 2011 in the strategy 2020. And if it was undertaken even then, for 5-7 years, an additional contribution to the growth rate of the economy would be 0.4 pp, for 10-15 years - 0.8 pp, and for 20-30 years this would increase GDP by 20-25%. This is the minimum provided only by the redistribution of costs, without reforms and increasing the effectiveness of institutions, explains Knobel.
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    GarryB

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    Re: Russian Economy General News: #8

    Post  GarryB on Thu Oct 05, 2017 11:22 am

    They need to stop seeing it as spending and start seeing it as investing in the Russian economy.

    Whether the bill says the spending was on T14 tanks made in Russia or exercise books for primary schools printed in Russia the end result is money spent in Russia for Russian workers to earn money, to pay taxes, etc etc.

    What would be better is efficiency drives that cut wasted spending that ends up overseas, or in the hands of a few that really don't need any more money.

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    Re: Russian Economy General News: #8

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      Current date/time is Thu Aug 16, 2018 2:44 pm