Russian Economy General News: #4

TR1 wrote:

Kimppis wrote:

sepheronx wrote:

kvs wrote:To me this looks like the speculator attack on the ruble has fizzled away.   It's previous decline was way too tightly coupled to the
oil price compared to other oil dependent economies (that would actually be Canada even if it is claimed otherwise).    The numbskulls
realized that the ruble collapse was equivalent to import barriers and export subsidy: a recipe for Russian economic growth and
development.  So now we are going to see over-valuing of the ruble.   The ruble should be about 55 to the dollar.

I think Ruble is headed to its natural position. But the sweet spot is probably 55 rub/usd.

Which means shitty nominal GDP and financial power? I know that nominal GDP is just a number and low value has its positives, but it still doesn't seem... right. Russia is not a fucking Spain (no offence to Spain).

True, Spain has a more diverse economy than Russia.

Spain is quite industrialized but nowhere near that of Russia's. As well, Spain's unemployment and debt is gross. Hence why Spain is the S in PIGS. On paper, Greece is rich, but reality is a different matter.

TR1 wrote:

Kimppis wrote:

sepheronx wrote:

kvs wrote:To me this looks like the speculator attack on the ruble has fizzled away.   It's previous decline was way too tightly coupled to the
oil price compared to other oil dependent economies (that would actually be Canada even if it is claimed otherwise).    The numbskulls
realized that the ruble collapse was equivalent to import barriers and export subsidy: a recipe for Russian economic growth and
development.  So now we are going to see over-valuing of the ruble.   The ruble should be about 55 to the dollar.

I think Ruble is headed to its natural position. But the sweet spot is probably 55 rub/usd.

Which means shitty nominal GDP and financial power? I know that nominal GDP is just a number and low value has its positives, but it still doesn't seem... right. Russia is not a fucking Spain (no offence to Spain).

True, Spain has a more diverse economy than Russia.

Well, it's certainly true that Spain's economy is fully developed by global standards (although some people seem to think Spain is a "poor" country due to recent problems, in the end its GDP per capita is so close to that of France, UK and Germany, etc., that it doesn't make much of a difference), but its total "economic power" is not as big as Russia's. It just doesn't feel right and it doesn't add up.

Kimppis wrote:

TR1 wrote:

Kimppis wrote:

sepheronx wrote:

kvs wrote:To me this looks like the speculator attack on the ruble has fizzled away.   It's previous decline was way too tightly coupled to the
oil price compared to other oil dependent economies (that would actually be Canada even if it is claimed otherwise).    The numbskulls
realized that the ruble collapse was equivalent to import barriers and export subsidy: a recipe for Russian economic growth and
development.  So now we are going to see over-valuing of the ruble.   The ruble should be about 55 to the dollar.

I think Ruble is headed to its natural position. But the sweet spot is probably 55 rub/usd.

Which means shitty nominal GDP and financial power? I know that nominal GDP is just a number and low value has its positives, but it still doesn't seem... right. Russia is not a fucking Spain (no offence to Spain).

True, Spain has a more diverse economy than Russia.

Well, it's certainly true that Spain's economy is fully developed by global standards (although some people seem to think Spain is a "poor" country due to recent problems, in the end its GDP per capita is so close to that of France, UK and Germany, etc., that it doesn't make much of a difference), but its total "economic power" is not as big as Russia's. It just doesn't feel right and it doesn't add up.  

Who cares about total economic power?

Belgium is a tiny economy compared to Russia, yet their level of development is far higher.
China's economy dwarfs Russia's, and so what? I am sure that makes all those peasants and factory workers feel better about their wonderful lives....

Problem in Spain is same as Italy and Greece. Many make decent money but are paid under the table and so lack of tax money causes a huge problem in government spending. QE has also helped increase money supply. Spain is very industrious country but everything costs a lot. Dad went to spain to purchase train components for our local transit system from Siemens in Spain. He stated that costs were a lot higher for average goods than they are here, and here, things are more expensive than Russia on average. Wages are high in spain but costs are too. As well, unemployment is high (over 20%) but social benefits are good but whats leading to heavy debts.
Taxation in Spain is high like most of EU with adjustable income taxes depending how much you make. Russia does not and has a flat tax rate of 14% with possibility of increasing to 18%. Problem for Russia is that due to this, and the fact they provide free education to University, as well as public medical care and other benefits, cost the government large amounts and Russia cannot give state employees big money for many of those reasons.

TR1 wrote:

Kimppis wrote:

TR1 wrote:

Kimppis wrote:

sepheronx wrote:

kvs wrote:To me this looks like the speculator attack on the ruble has fizzled away.   It's previous decline was way too tightly coupled to the
oil price compared to other oil dependent economies (that would actually be Canada even if it is claimed otherwise).    The numbskulls
realized that the ruble collapse was equivalent to import barriers and export subsidy: a recipe for Russian economic growth and
development.  So now we are going to see over-valuing of the ruble.   The ruble should be about 55 to the dollar.

I think Ruble is headed to its natural position. But the sweet spot is probably 55 rub/usd.

Which means shitty nominal GDP and financial power? I know that nominal GDP is just a number and low value has its positives, but it still doesn't seem... right. Russia is not a fucking Spain (no offence to Spain).

True, Spain has a more diverse economy than Russia.

Well, it's certainly true that Spain's economy is fully developed by global standards (although some people seem to think Spain is a "poor" country due to recent problems, in the end its GDP per capita is so close to that of France, UK and Germany, etc., that it doesn't make much of a difference), but its total "economic power" is not as big as Russia's. It just doesn't feel right and it doesn't add up.  

Who cares about total economic power?

Belgium is a tiny economy compared to Russia, yet their level of development is far higher.
China's economy dwarfs Russia's, and so what? I am sure that makes all those peasants and factory workers feel better about their wonderful lives....

I do. Multipolar world does.

Russia must be stronk. (China must be stronk.)

TR1, quite honestly, what do you expect from Russia? 20% economic growth per year? What is your solution? Pro-western government led by the current opposition? NATO membership? You must remember where Russia is coming from. The economy collapsed after the Soviet Union and there was basically no growth in the 90s, on the contrary. On the other hand, Russia experienced rapid economic growth from 2000 to 2010, or so. That is roughly comparable to the baltic countries, Poland, etc. Russia's per capita GDP (PPP) is over 20K, considerably higher than the world average. (I can already see what how you are going to reply. "It was only because of oil.")

It was only because of oil. Look how much natural gas and oil exports make up the budget lol.

The rest was a natural recovery of the economy, and private enterprise growth. Nothing to do with the government, but the obvious result of the massive economic contraction of the 90s.

The economy has not diversified over the past 10-15 years. In fact it has gone the other way.

But automotive manufacturing, petrochemical production (which is one of the largest in the world, and is actually a end product), pharmaceutical production (Russia makes 70% of the domestic demand for medicine), Mining (one of the largest in world), heavy industrial production like power equipment (Power Machines as example), military gear, Construction equipment, Agricultural equipment (Did you know that they also own Canada's largest agricultural production too?), construction materials, electronics and semiconductors, Food products, Furniture, etc.  Russia makes all of these and are major contributors to its economics development.  Powermachines and the products for electricity generating is growing larger for Russia in exports than military sales.  As for government not doing anything other than oil and gas, let me remind you of Sollers automotive group was created specifically to help curb the over importing of used auto's from Japan, and even moved a massive plant from Moscow to Vladivostok.  This isn't oil and gas.

Oil and gas is the major export mind you, and it also was worth a lot in terms of volume per cost of extraction.  Technically, it was bringing in a lot of money.  But that isn't the only thing, it also pushed for heavy industrialization of things like petrochemical plants (Uganda awarded a Russian company to build their first petrochemical plant for instance) and the piping, heavy equipment, etc were set up for those very reasons.

Now mind you, many of these are also foreign companies who invested in the production sites in Russia, but many of them are also Russian as well, such as the high demand for agricultural equipment and construction equipment (excluding John Deer).

TR1 is a troll.  Rational discourse with this specimen is a waste of time.

Back to substance and not troll feeding:



Total foreign debt of Russia:

1) Government: $39.241 billion

2) CBR: $11.083 billion  

3) All banks minus CBR: $154.017 billion

4) Other sectors: $355.019 billion
   This includes
     4(a) direct investment obligations: $125.328 billion
     4(b) credits (i.e. loans to Russian businesses): $213.596 billion

So the Russia debt in the properly defined use of the term is $39 billion.    Not some NATO propaganda chorus BS about $700 billion.
The NATO propaganda chorus actually counts FDI obligations of $125 billion as Russian debt.   What a bunch of lying clowns.   These
are investor risks and not bank borrowing.

Russian businesses have $214 billion in loans from abroad.   As I have posted in this thread before a significant part of
those loans is Russian money being channeled via offshore banks.  

This total "debt" (FDI obligations are not debt in the conventional sense since the investor risks his money) has gone
from $728.864 billion to $559.359 billion in one year.   The banks have reduced their exposure by about $60 billion.

No wonder the ruble is now trading at 50 to 1.  

TR1 wrote:It was only because of oil. Look how much natural gas and oil exports make up the budget lol.

But it makes a small portion of Russian GDP

"Russia only has oil and gas" is a myth. If it were right, who was sending the Western sattelites and consonants to the outer space.

Do I really need to keep repeating myself?

It is a huge part of the gov BUDGET.
That is why with the price of oil dropping the budget had huge holes that needed to be filled. The revenue from natural resource export is what the gov used to fund many of its lavish programs.

Thank you, I am well aware Russia has industry.

TR1 wrote:Do I really need to keep repeating myself?

It is a huge part of the gov BUDGET.
That is why with the price of oil dropping the budget had huge holes that needed to be filled. The revenue from natural resource export is what the gov used to fund many of its lavish programs.

Thank you, I am well aware Russia has industry.

It is a huge part of the budget but make small part of the GDP. That is what I am saying.

The price of oil is dropping in USD, but if we change to rub, the number in rub is the same. So the number of rub for funding Kremlin's lavish program does not decrease.

The ratio of rub:USD is changing but the value of rub is not changing in Russian domestic market.

Now western media is trying to portray the strenghtening of the RUble as a
bad thing..  

if the RUble is weak is bad.. if the RUble is strong is bad too..
The west simply is trying to create distrust in Russian Business and its economy..
as Kudrin the rat does.. and painting the entire thing in a negative unrealistic way.


Putin’s Surprising New Ruble Problem Threatens Russian Coffers

http://www.bloomberg.com/news/articles/2015-04-09/putin-s-surprising-new-ruble-problem-threatens-russian-coffers

I don't see the war in Yemen ending any time soon.. and will not be surprised if the Pro IRAN Rebels capture all Yemen and take the fight to Saudi Arabia..  

What could happen if The Houthis goes take the fight to Saudis and shut down their oil fields? and no longer oil is traded in dollars  
Im sure it will be a big party for Russian Energy industry and a lot of profits.. If i were Russia will arm the houthis to overthrow the Saudi King.

Russia could even very easily launch undercovertly a cruise missile from a Submarine in Yemen coast and shut down saudi arabia fields.. and paralizing its entire energy industry.

CBR can devaluate rouble by buying USD from the market and flooding it with rouble.

rouble should be 60 for Brent 55

The other method is lowering interest rates even more, down to 8% or lower and ruble will devalue too. There are plenty of options. Like Austin said, flood the market with ruble and it will devalue.

Here France delegation seeking to lift the sanctions siege by july on Russian economy .

Sanctions against Russia a counterproductive American game

http://rt.com/op-edge/248805-france-russia-sanctions-ukraine/

higurashihougi wrote:

TR1 wrote:Do I really need to keep repeating myself?

It is a huge part of the gov BUDGET.
That is why with the price of oil dropping the budget had huge holes that needed to be filled. The revenue from natural resource export is what the gov used to fund many of its lavish programs.

Thank you, I am well aware Russia has industry.

It is a huge part of the budget but make small part of the GDP. That is what I am saying.

The price of oil is dropping in USD, but if we change to rub, the number in rub is the same. So the number of rub for funding Kremlin's lavish program does not decrease.

The ratio of rub:USD is changing but the value of rub is not changing in Russian domestic market.

The Russia hating twit is so blind with his hate he can't even process basic information that contradicts his precious narratives.
As you point out, and has been pointed out numerous times before in this thread, a 50% drop in oil prices and a 50% devaluation
of the currency cancel out in terms of oil revenues in the national currency.

It looks like this basic bit of math escaped the stellar intellects in Washington as well. They were and still are actually drinking
their own propaganda Koolaid that Russia is a one commodity exporter banana republic. They thought that a ruble devaluation
would bring down the economy since banana republics need to import everything except for the commodities they sell. Russia
ain't no banana republic no matter how much TR1 and NATO maggots want it to be. I posted the weekly inflation rate data in this
thread. There was a surge to a maximum annualized rate of 36% but it has fallen back to early 2014 levels before the ruble
devaluation. Russia's economy is diversified and developed enough to import substitute and instead of the much desired economic
collapse and high inflation, imports from NATO dropped by a large amount. NATO shot itself in the foot. But that is not surprising
since haters are blinded by their hate.

Vann7 wrote:Now western media is trying to portray the strenghtening of the RUble as a
bad thing..  

if the RUble is weak is bad.. if the RUble is strong is bad too..
The west simply is trying to create distrust in Russian Business and its economy..
as Kudrin the rat does.. and painting the entire thing in a negative unrealistic way.


Putin’s Surprising New Ruble Problem Threatens Russian Coffers

http://www.bloomberg.com/news/articles/2015-04-09/putin-s-surprising-new-ruble-problem-threatens-russian-coffers

I don't see the war in Yemen ending any time soon.. and will not be surprised if the Pro IRAN Rebels capture all Yemen and take the fight to Saudi Arabia..  

What could happen if The Houthis goes take the fight to Saudis and shut down their oil fields? and no longer oil is traded in dollars  
Im sure it will be a big party for Russian Energy industry and a lot of profits.. If i were Russia will arm the houthis to overthrow the Saudi King.

Russia could even very easily launch undercovertly a cruise missile from a Submarine in Yemen coast and shut down saudi arabia fields.. and paralizing its entire energy industry.

Western media (aka propaganda chorus) coverage of Russia is one big pile of lies and projection. There is no objectivity but
inane wishful thinking in this NATO spew. Recall all the retarded articles since last summer predicting doom and gloom for
Russia's economy and now they act like they never wrote any of those articles. Instead they proceed to fully change the
criteria and carry on with the doom and gloom projection. At the heart of this projection is a pathological hate for Russia.
Russians are untermenschen and cannot possibly do anything right.

kvs wrote:
Western media (aka propaganda chorus) coverage of Russia is one big pile of lies and projection.   There is no objectivity but
inane wishful thinking in this NATO spew.   Recall all the retarded articles since last summer predicting doom and gloom for
Russia's economy and now they act like they never wrote any of those articles.  Instead they proceed to fully change the
criteria and carry on with the doom and gloom projection.   At the heart of this projection is a pathological hate for Russia.
Russians are untermenschen and cannot possibly do anything right.  

I think you will like to read the next article.. it have interesting information and is a bit technical.

If Only the US Hired Russia's Chief Central Banker

http://russia-insider.com/en/if-only-us-hired-russias-chief-central-banker/5469

Nabiullina is now credited to saving Russia economy.. and this is what was told
by Blomberg.. but they were trying to portray it as it was a lucky shot.  

In the end says that Putin trusted her.. and that proved to be a good choice her and central
bank head.

^^ Crap , If CBR increased its Gold reserves to 30 % of Forex and Dumps USD to just 15 % of Forex from current 45 % , I wont buy it.

TR1 wrote:Do I really need to keep repeating myself?

It is a huge part of the gov BUDGET.
That is why with the price of oil dropping the budget had huge holes that needed to be filled. The revenue from natural resource export is what the gov used to fund many of its lavish programs.

Thank you, I am well aware Russia has industry.

Now now TR1, you may well be aware that Russia has industry - but you are being dishonest.

Putin's government (and Medvedev's) has done much for the diversification of the Russian economy.

- The huge expansion of the automotive industry, including the cash for clunkers program, all the government efforts to encourage foreign automakers to increase the levels of localized parts and the establishment of incentives for doing so.
- The wood-processing industry and the government efforts in that regard, including slapping duties on exported raw timber; as a result many Finnish and Chinese wood-processing companies have invested in production facilities in Russia
- The constant high-level efforts at a government level to sell arms abroad; the defense industry feeds how many companies in Russia? Similarly, the government's modernization of the Russian military and the stricter standards towards Russian defense companies; this has contributed to the development of this economical sector too. Lately, defense enterprises have started to be merged into larger corprations by the state; time will tell how that will turn out but there are grounds for optimism.
- Ditto with nuclear power plant construction, and to a lesser extent hydroelectric power-plants; both of them are pushed at a state-to-state level by the Russian government, and many successes in securing contracts have been noted in recent years. Domestic investment into new power plants of all types is also tied in with government programs; many NPPs are being built around the country; thermal, hydro-electric, even solar power plants too.
- Government-led investment into Russian infastructure. New railroads, new ports, renovations and expansion of airports, construction and reconstruction of highways, bridges and ring-roads around the country and many of its major cities. The new space-port at Vostochny. Railroad construction is also being pushed being pushed as an export at the state level by the Russian government; several contracts have been secured.
- Government efforts at encouraging tourism, reforming Rosturizm, publiscing the country at exhibitions, the massive investments into Sochi and the focus on investment into sport infastructure for international events, the new F1 track, the large amount of visa-free regimes signed with countries world-wide and further government interest in this issue. All of this has been done through government money and programs.
- Investment into high-tech, the widespread campaign at encouraging investment into nano-technology; the setting up of the Rosnano investment conglomerate, the Skolkovo institute and other government and regional technoparks and business incubators for tech start-ups.
- The state investment into the Northern Sea Route, renewal of ports along its route and supporting infastructure, construction of a fleet of new icebreakers to keep the route open, investment into new miltiary garrisons along the Arctic, state-support at the highest levels, directed at encouraging other countries to start making use of it.
- Government reform of the higher-education system, the unification of various existing and newly built instututes and facilities into a series of federal universities, one for each district of the country. Setting up of the Skolkovo Management school too. Focus on establishing partnerships with foreign institutes.
- Government investment into farmers and agriculture, many supporting programs for purchasing farm equipment and land. The recent counter-sanctions have eliminated much of the competition for Russian farmers. The government has also established direct contacts with many of the large multinationals involved in investing in Russia food & beverage production; Coca Cola and so on; giving them support and whatever they need.
- Attempts to improve business conditions, Russia has been steadily climbing up the rankings in recent years. Loads of initiatives and support programs in regards to small and medium-sized businesses. Various beaurocratic reforms.

It's all I can think of now but there's plenty more than that.

kvs wrote:

The Russia hating twit is so blind with his hate he can't even process basic information that contradicts his precious narratives.
As you point out, and has been pointed out numerous times before in this thread, a 50% drop in oil prices and a 50% devaluation
of the currency cancel out in terms of oil revenues in the national currency.  

Monumentally stupid post.


Think about what you just posted for a second.

flamming_python wrote:

TR1 wrote:Do I really need to keep repeating myself?

It is a huge part of the gov BUDGET.
That is why with the price of oil dropping the budget had huge holes that needed to be filled. The revenue from natural resource export is what the gov used to fund many of its lavish programs.

Thank you, I am well aware Russia has industry.

Now now TR1, you may well be aware that Russia has industry - but you are being dishonest.

Putin's government (and Medvedev's) has done much for the diversification of the Russian economy.

- The huge expansion of the automotive industry, including the cash for clunkers program, all the government efforts to encourage foreign automakers to increase the levels of localized parts and the establishment of incentives for doing so.
- The wood-processing industry and the government efforts in that regard, including slapping duties on exported raw timber; as a result many Finnish and Chinese wood-processing companies have invested in production facilities in Russia
- The constant high-level efforts at a government level to sell arms abroad; the defense industry feeds how many companies in Russia? Similarly, the government's modernization of the Russian military and the stricter standards towards Russian defense companies; this has contributed to the development of this economical sector too. Lately, defense enterprises have started to be merged into larger corprations by the state; time will tell how that will turn out but there are grounds for optimism.
- Ditto with nuclear power plant construction, and to a lesser extent hydroelectric power-plants; both of them are pushed at a state-to-state level by the Russian government, and many successes in securing contracts have been noted in recent years. Domestic investment into new power plants of all types is also tied in with government programs; many NPPs are being built around the country; thermal, hydro-electric, even solar power plants too.
- Government-led investment into Russian infastructure. New railroads, new ports, renovations and expansion of airports, construction and reconstruction of highways, bridges and ring-roads around the country and many of its major cities. The new space-port at Vostochny. Railroad construction is also being pushed being pushed as an export at the state level by the Russian government; several contracts have been secured.
- Government efforts at encouraging tourism, reforming Rosturizm, publiscing the country at exhibitions, the massive investments into Sochi and the focus on investment into sport infastructure for international events, the new F1 track, the large amount of visa-free regimes signed with countries world-wide and further government interest in this issue. All of this has been done through government money and programs.
- Investment into high-tech, the widespread campaign at encouraging investment into nano-technology; the setting up of the Rosnano investment conglomerate, the Skolkovo institute and other government and regional technoparks and business incubators for tech start-ups.
- The state investment into the Northern Sea Route, renewal of ports along its route and supporting infastructure, construction of a fleet of new icebreakers to keep the route open, investment into new miltiary garrisons along the Arctic, state-support at the highest levels, directed at encouraging other countries to start making use of it.
- Government reform of the higher-education system, the unification of various existing and newly built instututes and facilities into a series of federal universities, one for each district of the country. Setting up of the Skolkovo Management school too. Focus on establishing partnerships with foreign institutes.
- Government investment into farmers and agriculture, many supporting programs for purchasing farm equipment and land. The recent counter-sanctions have eliminated much of the competition for Russian farmers. The government has also established direct contacts with many of the large multinationals involved in investing in Russia food & beverage production; Coca Cola and so on; giving them support and whatever they need.
- Attempts to improve business conditions, Russia has been steadily climbing up the rankings in recent years. Loads of initiatives and support programs in regards to small and medium-sized businesses. Various beaurocratic reforms.

It's all I can think of now but there's plenty more than that.

Python, this post is absurdly rose tinted and gives credit to the gov where it deserves very little.

I am busy right now, but I will respond to specific points later tonight/tomorrow.

flamming_python wrote:

TR1 wrote:Do I really need to keep repeating myself?

It is a huge part of the gov BUDGET.
That is why with the price of oil dropping the budget had huge holes that needed to be filled. The revenue from natural resource export is what the gov used to fund many of its lavish programs.

Thank you, I am well aware Russia has industry.

Now now TR1, you may well be aware that Russia has industry - but you are being dishonest.

Putin's government (and Medvedev's) has done much for the diversification of the Russian economy.

- The huge expansion of the automotive industry, including the cash for clunkers program, all the government efforts to encourage foreign automakers to increase the levels of localized parts and the establishment of incentives for doing so.
- The wood-processing industry and the government efforts in that regard, including slapping duties on exported raw timber; as a result many Finnish and Chinese wood-processing companies have invested in production facilities in Russia
- The constant high-level efforts at a government level to sell arms abroad; the defense industry feeds how many companies in Russia? Similarly, the government's modernization of the Russian military and the stricter standards towards Russian defense companies; this has contributed to the development of this economical sector too. Lately, defense enterprises have started to be merged into larger corprations by the state; time will tell how that will turn out but there are grounds for optimism.
- Ditto with nuclear power plant construction, and to a lesser extent hydroelectric power-plants; both of them are pushed at a state-to-state level by the Russian government, and many successes in securing contracts have been noted in recent years. Domestic investment into new power plants of all types is also tied in with government programs; many NPPs are being built around the country; thermal, hydro-electric, even solar power plants too.
- Government-led investment into Russian infastructure. New railroads, new ports, renovations and expansion of airports, construction and reconstruction of highways, bridges and ring-roads around the country and many of its major cities. The new space-port at Vostochny. Railroad construction is also being pushed being pushed as an export at the state level by the Russian government; several contracts have been secured.
- Government efforts at encouraging tourism, reforming Rosturizm, publiscing the country at exhibitions, the massive investments into Sochi and the focus on investment into sport infastructure for international events, the new F1 track, the large amount of visa-free regimes signed with countries world-wide and further government interest in this issue. All of this has been done through government money and programs.
- Investment into high-tech, the widespread campaign at encouraging investment into nano-technology; the setting up of the Rosnano investment conglomerate, the Skolkovo institute and other government and regional technoparks and business incubators for tech start-ups.
- The state investment into the Northern Sea Route, renewal of ports along its route and supporting infastructure, construction of a fleet of new icebreakers to keep the route open, investment into new miltiary garrisons along the Arctic, state-support at the highest levels, directed at encouraging other countries to start making use of it.
- Government reform of the higher-education system, the unification of various existing and newly built instututes and facilities into a series of federal universities, one for each district of the country. Setting up of the Skolkovo Management school too. Focus on establishing partnerships with foreign institutes.
- Government investment into farmers and agriculture, many supporting programs for purchasing farm equipment and land. The recent counter-sanctions have eliminated much of the competition for Russian farmers. The government has also established direct contacts with many of the large multinationals involved in investing in Russia food & beverage production; Coca Cola and so on; giving them support and whatever they need.
- Attempts to improve business conditions, Russia has been steadily climbing up the rankings in recent years. Loads of initiatives and support programs in regards to small and medium-sized businesses. Various beaurocratic reforms.

It's all I can think of now but there's plenty more than that.

Biggest contributor to Russias industrial resurgance are in the SEZ's setup all over the country. They are generating quite a bit of money.

lol your spat filled my account with 91 notifications .





BRICS $100bn reserve currency pool to soothe global shocks

http://rt.com/business/248249-brics-bank-currency-pool/


Sorry, this is capitulation of BRICS, total media populism. There are no funds. And what there is is tied to IMF policies. This is a total failure of BRICS . It's a pity they have opted to prop up the currency of the US Empire.

max steel wrote:lol your spat filled my account with 91 notifications  .





BRICS $100bn reserve currency pool to soothe global shocks  

http://rt.com/business/248249-brics-bank-currency-pool/


Sorry, this is capitulation of BRICS, total media populism. There are no funds. And what there is is tied to IMF policies. This is a total failure of BRICS . It's a pity they have opted to prop up the currency of the US Empire.

What are you talking about? Point of the $100B reserve pool is to help in investments when there is trouble.