President Vladimir Putin assured the business that the government will not swerve off course, despite external and internal complexity. Putin informed the Investment Forum “Russia Calling” that the economic situation in Russia is stable. The forum was broadcast channel “Russia 24″ and the site “BBC News”.
“We are aggressively moving towards the goals that have set. Sincerely want to build a strong, prosperous, free and open to the world country” – said the head of state. He gave an assessment of the current state of affairs in the domestic economy. Thus, according to Putin, “despite the difficult external situation, in January – August of this year, the federal budget has a surplus of more than 900 billion rubles ($ 2 per cent of GDP)”, which is twice more than the same period last year. “However, we remain committed to the budget rule, that is part of the oil and gas revenues directed to the reserve funds. Their total volume increased and is now more than 9 per cent of Russia’s GDP,” – said the president.
“I emphasize important: fundamental factors that ensure stability, we have a very strong and reliable: it is a balanced budget, significant reserves, strong balance of payments, “- said the head of state. Recognizing that in Russia today there are large fluctuations in the foreign exchange market and on this score sounds a lot different comments, Putin said that the current account balance was even more than expected.
Putin recalled that 15 years ago there was a goal of doubling GDP and “many just laughed at us.” “And we did it,” – said the President. Talking about the current situation, he acknowledged that the trend in the economy has changed, although no one can be 100 percent predict what, for example, the cost of oil and other important factors and risks. “We still believe that the goals we leave unchanged, but will have to look for such tools that will enable us to achieve them, or at least come closer to these goals”, – Putin said.
The President did not rule out the corporatization and IPO some energy companies and enterprises of the military-industrial sector. “Our defense industry today produces 25 percent of civilian products, and to make these enterprises more flexible, more efficient, more competitive, we do not exclude that some of them may be corporatised and listed on the stock exchange, the market”, – said Putin . “We are now considering the possibility of entering the market with large blocks of our largest energy companies,” – he added.
In this case, the revision of an already completed privatization should not wait, Putin said. “There is no mass revision of privatization will not” – said he fears some of the participants. However, “if the law enforcement agencies there were some questions in this regard, or in connection with the movement of assets, we have no right to refuse to law enforcement authorities to this particular case was investigated and it was taken a decision” – said the head of state. Speaking about the specific situation with the “Bashneft”, he added that he is not going to interfere with it.
Splash inflation in August-September, President connects with a grocery basket and entered Russia kontrsanktsiyami against Western countries. “But I am convinced that it is only temporary,” – he said, recalling the Federal Antimonopoly Service of the need to closely monitor the speculation in the market.
Putin noted that the transition to a floating exchange rate of the Central Bank does not mean a complete rejection of foreign exchange intervention. “At the Bank of Russia enough instruments to ensure financial stability”, – he explained. The president assured that Russia has no plans to introduce are any foreign exchange restrictions or restrictions on the movement of capital.
“Despite the difficulties, we did not strengthen the tax burden on business. We did not hide these discussions in the user manual country, in the government, but we have not gone down this path, the path of increasing the tax burden, and have no plans to introduce any foreign exchange restrictions or restrictions on the movement of capital, “- said the president.
not going to he overhauled to increase domestic debt. “Domestic debt will increase, because it is we are at a record low. But we will act carefully,” – said the head of state. Economic growth is necessary to ensure “not by pumping liquidity or financial instruments, and due to structural changes in the economy of the Russian Federation”.
And about the money: Russian banks will be able to work in the country with cards leading international payment systems even in case of power from these systems, Putin said. According to him, “already established mechanisms to perform operations on the territory of the Russian Federation with the use of plastic cards of the leading payment systems even in case of power from these systems of domestic banks.” And for 2015 will set up a national system of payment cards with independent international systems infrastructure, a single operational center and its own payment instruments. It must ensure the security and confidentiality of the calculations.
At the same time Russia is pursuing a policy of increasing the use of the national currency in foreign accounts. The pioneer here was the “Gazprom Neft”, which was the first in trial mode put oil for rubles in China. “In the future we intend to make active use of national currencies in trade in energy resources, in the implementation of other foreign payments – as with China and other countries,” – said the head of state. He said that has been created and an appropriate mechanism within the BRICS.
“We see the use of national currencies serious mechanism to reduce risks, new opportunities to the economic life”, – Putin said. Cooperation with China in general, he called a trend taking shape is not today, during the anti-Russian Western sanctions, and a few years ago. “Among the priorities – deepening of business, trade, investment, technology partnerships with the countries of Latin America, Asia-Pacific countries, with our colleagues in the BRICS, including China,” – said Putin.
He is pleased that many serious foreign investors continue to work in Russia. “Along with the development of foreign trade, export promotion, participation in integration projects, we intend to make full use of one of Russia’s competitive advantages – a large domestic market”, – said the head of state, recalling that in terms of it is the sixth largest in the world.
“Our task – in the coming years to implement an industrial breakthrough, to create strong national companies in manufacturing sectors that can produce competitive products”, – Putin said. Moreover, “in the renewal of the economy and infrastructure are going to use as their own financial resources and sources, and strengthen cooperation with investment funds, banks from other states”.
The theme of anti-Russian sanctions, raised issues of the forum, did not cause concerns of the President. “Limitations of the so-called sanctions – nonsense, of course, the full by those governments that limit their business, preventing him from work, reduced competitiveness, free niche in this promising market like Russia, for their competitors,” – to the applause of the audience Putin said.
“We have this (sanctions) calmly. pity that the fundamental principles of the WTO, the global economy, market economy, competition, undermined the credibility of the international financial institutions, the credibility of the reserve currencies – the dollar and the euro, “- said the Russian leader. In his opinion, such action “is applied to the long-term, invisible at first glance, the damage to the world economy”.
At the same time domestic help organizations affected by the sanctions, Putin assured: “The state is ready to support those sectors and companies which came under the direct effect of sanctions, including, to participate in the capital increase of Russian banks “.
According to the president, external constraints that are harmful not only for Russia, but for the entire global economy,” strengthen our determination to achieve results in priority areas of the country. ” “It’s – economic growth, renewal of industry and infrastructure, the creation of modern jobs and improving the quality of life of citizens of the Russian Federation”, – Putin listed.
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