Soho
Russia's economy on the verge of stagnation
09.07.2013 4337

Russia's economy on the verge of stagnation

The degree of workload of the Russian economy is close to the limit and it does not have resources for further growth today, experts say in a round table discussion on the prospects for Russia's economic development.

Commenting on the three lines of efforts declared by the new Minister of Economics Alexei Ulyukaev to revitalize the economy (non-resource exports, growth in consumer demand, increasing investment), experts noted that there are very few conditions in today's Russia to implement these tasks.

As the chief economist of AFK Sistema Yevgeny Nadorshin said, further capacity building is possible, but hardly effective. In the coming years, unless serious measures are taken, the country will stagnate with GDP growth rates from + 1% to -1%. According to him, production needs investment, but neither the state nor the private sector is ready to take on this function and be responsible for the results. The expert believes that the state, as a more active player, is obliged to take a risk and start supporting business, otherwise the consequences for the economy will be dire.

Valery Mironov, Deputy Director of the Center for Development Institute of the Research Institute of the Higher School of Economics, is sure that to improve the situation with investments in production, a reform of the public sector is necessary, namely, the nationalization of state-owned companies, since at present they do not perform their functions and, according to the Ministry of Economy, regularly thwart investment plans. The expert also spoke in favor of expanding domestic demand and weakening the ruble by 10%.

According to Vladimir Salnikov, Deputy General Director of the Center for Macroeconomic Analysis and Short-Range Forecasting, labor productivity is relatively good in the real sector of the economy, it has shown slight growth over the past year, but still remains 2-8 times lower than in developed countries . This is largely due to outdated facilities, whose average age is 18 years.

A positive point, says Maxim Safonov, associate professor of RANEPA, is that the necessary business support institutions have already been created in Russia (the Direct Investment Fund, the Small Business Development Bank and others), but their work efficiency leaves much to be desired.

Experts agreed that there is no reason to expect significant growth in the near future. Yevgeny Nadorshin believes that the authors of the 2014-2016 budget cannot come to terms with economic realities and include in the main financial document an indicator of GDP growth in 2014 at the level of 3,7% in the hope that the existing problems will "resolve themselves." According to the expert, there are very few grounds for such hopes, and therefore the draft budget should be revised taking into account real indicators.

The degree of workload of the Russian economy is close to the limit and today it does not have the resources for further growth, experts say at the round table on the prospects of the economic ...
5
1
Rating

Latest News

Gigi Hadid Appears in Boss Campaign

American supermodel Gigi Hadid presented a new collection of the German fashion brand Boss. In the campaign photo, Hadid is dressed in a black loose-fitting pantsuit, on the model's feet are black sandals from the brand's new women's spring collection ...
27.01.2023 26

Ermenegildo Zegna Group reports 2022% revenue growth in 15,5

Italian group Ermenegildo Zegna ended 2022 with a 15,5% increase in revenue, although business results were impacted by anti-covid restrictions in the Bolshoi…
26.01.2023 278

In the new Coccinelle advertising campaign - Italy, femininity and the scent of the night

The new advertising campaign of the Italian brand of bags and accessories Coccinelle, #ALLABOUTUS is the third joint project of photographer Giampaolo Sgura and one of the most influential people in the fashion world, a freelance editor and creative director…
26.01.2023 306

Kotofey is going to open about 40 new stores in 2023

The brand of children's shoes and clothes "Kotofey" continues the active development of its retail network and enters foreign markets. In 2022, 24 new stores opened under the Kotofey brand, including the first outlets in Belarus. In 2023…
25.01.2023 282

In 2022, 13 new brands appeared on the St. Petersburg market

The activity of retailers in terms of launching new stores in St. Petersburg last year remained at the level of 2021. According to the estimates of the consulting company Nikoliers, about 150 stores have opened in the city's shopping centers, and almost ...
24.01.2023 429
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning