Week in the economy. Russia promised a bright future after 10 years – The Independent newspaper

Week in the economy. Russia promised a bright future after 10 years – The Independent newspaper

Dmitry Medvedev Cabinet approves draft budget for the next three years. Photos from the official website of the government of the Russian Federation

 

The ruble was marked last week, a new record decline. The dollar became more expensive than 38 rubles. However, if the population of another collapse of the national currency – a serious blow to the family budget, then the government – quite the contrary. After a weak ruble gives the authorities the opportunity to fill the treasury due to exchange rate differences.

  
 

On Tuesday the Ministry of Finance issued a draft budget for the next three years, on Thursday, the government approved the project. Next year’s budget drawn up with a deficit of about 430 billion rubles., Or 0.6% of GDP, and clearly understated inflation rate of 5.5%. In the context of close to zero growth influx of revenue in the budget will be insufficient. So, apparently, it is due to arithmetic tricks inflation and the ruble exchange rate financial authorities plan to balance income and expenses.

  
 

In addition, the balance will be due to savings on the most costly, in terms of financial authorities, social spheres. For example, government spending on health care in 2015 compared to 2014 will be reduced from 12% in absolute terms and by almost 20%, adjusted for inflation. At the end of the week at an investment forum in Sochi, the Ministry of Finance remembered another way to save – by the way, the president banned. Finance Minister reiterated his call to raise the retirement age. And Deputy Prime Minister Arkady Dvorkovich, in turn, boasted that the so-called moratorium on pension savings in 2015 – is the selected alternative government tax increases.

  
 

In the war of sanctions last week was a slight lull. First, on Thursday, the European Parliament adopted a resolution calling for sanctions to strengthen the anti-Russian – disable the RF from the international payment system SWIFT, and a total ban on the construction of the gas pipeline “South Stream”. But then the company SWIFT responded to this evrorezolyutsiyu that disabling Russian violates the rights of the company and gets her huge reputational damage.

  
 

Once again mulling new responses in Moscow. On Thursday, the Minister of Economic Development Alexei Ulyukayev on the sidelines of the State Council admitted to Reuters, that it is not seen in the government-developed solutions relating to the new antisanktsionnogo plan. The same uncertainty about the Russian response persisted into the past at the end of the week an investment forum in Sochi. Now the Russian authorities are increasingly discussing bans are not new, which until recently was frightening presidential aide Andrei Belousov, and ways to support fallen under sanctions sectors.

  
 

Again, Russian authorities have promised the public another brilliant future, which will occur in a decade. “We get a new economy. Not for a year, not two, but I am absolutely sure that in the long term to 10 years we will have a completely different, to modernize the economy, even though today’s existing restrictions “- promised on Saturday Prime Minister Dmitry Medvedev on the TV channel” Russia 24 ” .

  
 

The authorities failed to curtail government programs, although, of course, they corrected them, Medvedev added. The main problem of the Russian economy, he said, not external, that is, not sanctions, and internal. The internal problems of the Prime attributed primarily infrastructure constraints. All other internal problems, it seems, in the understanding of the authorities resolved.

  
 

Apparently, the government hopes that the promise of a bright future in a decade help people come to terms with the challenges that are waiting for the domestic economy in the coming years. After all, according to the minister, it is the years 2015-2017 have major negative effect of sanctions.