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Tuesday, October 25, 2016

Titov: Russia risks entering into the category of minor economies

If Russia will not change model of economic development, the country risks entering into the category of secondary economies, I am sure the business Ombudsman Boris Titov.

“Old, raw model no longer works. Oil no longer brings in the revenue. So to build the economy we need is not on the export of natural resource rents, and on the production and creation of value added within the country”, — quotes its words “Tape.<url>.

While Titov is not opposed to the key point of the economic development program proposed by the former Minister of Finance, head of Center for strategic development Alexey Kudrin. But clarifies that institutional change can take too much time.

“Only in (their) training will take a year and a half, and the reform will take several more years. We can’t wait that long — by the time Russia falls into the category of secondary importance in economic terms countries,” — said the business ombusman.

We will remind that on July 25 the President of Russia Vladimir Putin instructed to prepare a new program of development of economy on the basis of the report of the Stolypin club. It should be an alternative to the program proposed by Alexei Kudrin.

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