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Thursday, March 22, 2018

Alternative Kudrin: the Stolypin club invited Putin to include the printing press

Russian President Vladimir Putin instructed to finalize the report of the Stolypin club, that on its basis to prepare a new program of economic development. It is expected that it will become an alternative to the concept Center for strategic research, headed by former Finance Minister Alexei Kudrin.

photo: Gennady Cherkasov

To process the report of the Stolypin club, President Vladimir Putin suggested his assistant Andrei Belousov, the newspaper “Vedomosti”. The head of state wrote on the letter “I do”.

The publication notes that “stolypins” he proposed to increase investment, pumping up the economy with public money both from the budget and by an additional issue. It was assumed that the Central Bank needs to print half a trillion rubles.

In turn, the head of the Center for strategic development Alexey Kudrin believes that investments should be private. For this the government should ensure macroeconomic stability, low inflation and small budget deficits.

“He [Kudrin] thought that one will shape the economic agenda for the President and this Commission says there will be different positions,” said a senior source.

As expected, the processing of the report of the Stolypin club, will be engaged in an interagency group in the government. It is expected that the new program will be made available to the Presidium of the economic Council under the President of the Russian Federation not later than the fourth quarter.

In may, Stolypin club has suggested Bank of Russia to launch a program of quantitative easing — saturate the economy with money through the provision of affordable loans for major projects. The program provides an additional emission of rubles.

Friday, 21 July, presidential aide Andrei Belousov complained of excessive strengthening of the ruble. According to him, a strong national currency reduces the budget revenues, but also inhibits the growth of Russian exports. Earlier topic “perekrestnogo” of the ruble was the subject of a meeting with Vladimir Putin.

Read the material: the Government limits the ruble: currency scared of Putin


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