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Saturday, December 3, 2016

We say, “Kudrin”, we mean “the eyes”


The main sensation of the forum related to the economy, but not only that was not the message of the Deputy Minister of economic development Alexei Likhachev that for five months of this year exports of agricultural products from Russia has increased five times, the millions of tons of grain exported by our country are ahead of both Canada and the United States. Impressive, certainly, but the explanation is not difficult: exports stimulated fallen in 2014-2015 the ruble.


photo: Gennady Cherkasov

If you understand the sensation something not only unexpected, but almost inexplicable that this statement of the head of the CSR Alexei Kudrin. He said the following: “to be Honest: the collapse of the national currency by more than two times is a disgrace for the economic authorities, I believe, well as for the country.”

On the one hand, Kudrin is certainly right: nothing to be proud of. But there are other side. First, the ruble has fallen because the oil at that time have fallen in price three times. The ruble had nowhere to go. Second, if shame is such an obvious dependence of our economy on oil prices, Kudrin actually sprinkled ashes on his head. He to a large (if not decisive) degree was created by the existing economic system. Yes, he introduced a system of protection from fluctuations in oil prices using reserve funds, but that insurance in the framework of the same dependencies. Reserve money went to support projects that would promote economic diversification, Kudrin blamed his political opponents.

The curious circumstances of time and place of the statement Kudrin. It was made for a business Breakfast in the framework of St. Petersburg international economic forum. Before Kudrin acted Gennady Zyuganov and Sergei Glazyev. They themselves have not changed. Said that from them and waited. The eyes were softer than usual, he said: “We will live in a situation of low energy prices. The simplest thing to do, the Central Bank is to fulfill the constitutional duty to protect our currency from fluctuations in oil prices”. And it is here that sounded harsh statement Kudrin about the disgraceful fall of the ruble.

I was at this Breakfast were not, and if not for the fact that Kudrin was quoted by all news agencies, I have decided that Kudrin attributed to Glazyev. But it’s not.

Kudrin was stipulated: the Central Bank he the fall of the ruble does not blame: “to Let the ruble had CB there is nothing I could do about it. Floating rate inevitable.” But what is the explanation of the sensation?

I have only one, and it is not too much, but another comes to mind. The explanation is that Kudrin is trying on clothes policy. Of course, in Economics he had long been a politician, but now clothes a size larger — not the Minister of Finance, and, say, premiere. If so, the fitting, alas, not too successful.

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