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Monday, October 24, 2016

Deputy Finance Minister: Russian economy is in the middle of a storm

The economy was in “storm center,” said Deputy Finance Minister Tatyana Nesterenko. According to her, stability is now provided only at the expense of reserves and need rapid reforms, or “by the end of next year,” has nothing to pay wages. As the output Nesterenko urged to raise the retirement age, the efficiency of labor, economic activity and mobility of Russians.

First Deputy Finance Minister Tatyana Nesterenko said that Russia’s economy appeared in the center of the storm – when all seems quiet, but in reality it is not. “The current state of the economy can be described as the center of the storm,” – said the representative of the Ministry of Finance, speaking on Saturday to the participants of the all-Russian youth educational forum “Territory meanings on the Klyazma”.

“The country cannot grow rapidly if there is a serious divide in society and if there are poor citizens”

“The storm is a condition when all fades, – said Nesterenko. – When all is quiet and looks well, but actually we are already in the center. And politicians should evaluate and choose the solutions that will allow this center of the storm hard, but to go out in a controlled manner”, – said the Deputy head of the Ministry of Finance. “What we have got and will be turbulence – it’s obvious. But how to get out of this? Whether it’s chaotic or we’ll be there to form policy that will help us painlessly from this situation to leave,” she added. “The public sector is our main internal call”, – concluded the Deputy head of the Ministry of Finance.

“We certainly do not tolerate, even in thought”

According to Nesterenko, the stability is now provided only at the expense of reserves. “If we do not change, by the end of next year we will not have reserves nor the ability to pay wages, – she admitted, – If this is allowed. But we certainly do not tolerate, even in thought”.

Recall that earlier in the week, another Deputy Minister of Finance Maxim Oreshkin said that in July will not spend the Reserve Fund to Finance the budget deficit, but the Finance Ministry may resort to them in August, and the bulk of that spending will come in December. In early July, the Minister of Finance Anton Siluanov reported that the Reserve Fund will not be fully expended next year, and the Federal budget deficit that year is expected to reach 3.2% of GDP.

Recall that the development of alternative ideas of development of Russian economy continues. To entrust finalization of the report of the Stolypin club, and to prepare, on the basis of the medium-term program “growth Strategy” the President asked his assistant Andrei Belousov, Vladimir Putin on the letter wrote “I Agree”, said a senior official confirmed a member of the Stolypin club, the business Ombudsman Boris Titov.

“Any ways to increase working age

“The anxiety level of our officials is rising every day, because oil prices have fallen – out with the level of 50 dollars per barrel range and in the area 41-43 dollar. This destroys the notion that commodity prices will rise, that it somehow will help us, while we spend reserves and support a stable exchange rate of the national currency”, – said in comments the newspaper VIEW head of the Center for economic research Institute of globalization and social movements Vasily Koltashov.

Let’s add that yesterday cost of futures for oil of mark Brent with delivery in September on the ICE futures exchange in London fell compared with the closing level on 2%, to 41.86 per barrel. Quotations have fallen below level of $ 42 for the first time since April 18.

Trend said the head of Ministry Alexander Novak. Fundamental factors do not suggest that the price of black gold will rise above $ 50 per barrel, he said on Friday.

The conclusions of Novak’s match with cautious forecast of economic development – we will remind, on July 21 the head of the Ministry Alexei Ulyukayev at the meeting with the business community in Tokyo said that oil prices can increase, but only slightly, they remain at a low level for a long time. The Minister also stated that balancing supply and demand on the world oil market tightened, while the surplus black gold in the market will continue this year.

In a speech on “the Territory of meanings” Nesterenko suggested one solution: “we Need any ways to increase working age, this should be targeted pension and social policy, politics in education and the social sphere”.

We will remind, in the middle of June, Alexei Ulyukayev also predicted that after 2018 will begin a gradual increase in the retirement age, which in the end will be set at around 63 years for both men and women. “I believe that raising the retirement age is a natural decision,” said the Minister, who himself this year marks the 60th anniversary. The Ministry has repeatedly stated that the increase to 63 or 65 for both sexes is necessary.

Earlier, in may a proposal to increase the retirement age to 63 by ex-Finance Minister Alexei Kudrin. That after 2018, the possible transition to the new pension system was announced by the member of the Stolypin club, the Deputy head of Vnesheconombank Andrei Klepach.

The financial block of the government and business representatives in this case are opposed to representatives of the unit responsible for “social”. The Minister of labour and social protection Maxim Topilin said that the increase is possible, when will be able to further increase life expectancy. In April docblock supervising Deputy Prime Minister Olga Golodets said that the government is not discussing any new pension concept. Earlier Olga Golodets also said that to raise the retirement age until 2018 are planned. According to her, now only determined the plan of pension reform.

“There is a serious divide in society”

Tatyana Nesterenko, speaking to the participants of the forum “Territory”, also called to provide efficiency of labour and increasing economic activity and population mobility. She stressed that this will contribute to creation of comfortable conditions for workers.

“The country cannot grow rapidly if there is a serious divide in society and if there are poor citizens,” – said Nesterenko. According to her, poverty is one of the main challenges for Russia. “We need to act and to create the conditions for poverty to be eradicated as a fact,” she said.

According to her, the poor in Russia is just 5% of older people. “The poorest in Russia – 35% of the number of poor is a young family that has two children,” she said. This situation, according to him, needs to be changed.

“Should be transparent for society”

The economic situation now is “the intertwining of multiple crises”, said the rector of the Russian presidential Academy of national economy and public administration under the President of Russia Vladimir Mau, speaking on “the Territory of meanings”.

Mau told about why it happened, “the 2000-ies have been exhausted. It was aimed at the rapid growth of the economy after its decline in the 90s. Economic growth ceased to be automatic and now the country faces two groups of tasks – anti-crisis policies and structural modernization.” Also, the expert has focused on the role played by the state: “the Government has responded to the crisis with populist slogans, but concrete action. We have avoided systemic flaws, not took the path of populism and not to repeat the mistakes of the past,” according to the website of the forum.

The participants of the youth forum were also made by the head of the Federal Treasury Roman Artyukhin. “Everything that the government does should be transparent for society, because a high level of transparency leads to greater accountability performers,” he brought one of the main tasks of the Treasury.

Deputy head of Federal tax service of Russia Dmitry Grigorenko said on the forum about new projects on, such as “Online cash” and “Marking”, which allows you to track taxes for all payment processes, according to the website “Site”. They also touched on the subject of tax audits. “The essence of the tax service does not put at the forefront check. Coverage of verifiability is only 0.4%,” – said the Deputy head of the FNS.

Educational program day on the forum in the format of workshops will include discussion of problems of Russian and global financial markets, youth entrepreneurship and modernization of the economy.

We remind that the forum “Territory meanings on the Klyazma” runs from 28 June to 28 August in the Vladimir region and includes eight thematic shifts. Unlike the previous year in 2016, along with young MPs and political leaders, IT specialists, teachers of the social and economic Sciences, journalists and leaders of youth NGOs participating in the forum will be attended by young scientists and teachers in the field of health and specialists of the sphere of interethnic relations. Just over 8 thousand participants.

Began July 29, the fifth shift of the Forum dedicated to the program for young scientists and teachers of Economics.

The forum is organized by the Federal Agency for youth Affairs, the Public chamber of the Russian Federation, “Repatriants” Rosmolodezh. The forum is held under the guidance of the presidential Directorate on domestic policy.

Recall that the current forum was launched in the youth Day. Young people aged 18 to 30 years expect an intensive educational program, Forsyth-sessions, sports and entertainment. In addition, everyone will be able to participate in the pipeline project, presented the idea to the Federal experts and get the opportunity to win a grant.

“Land of ideas”, which takes place on the territory of Kameshkovskiy district, Vladimir region, near the Klyazma river, became the successor of the all-Russian youth educational forum “Seliger”. “Territory” on the Klyazma is the second year. “Seliger” was held from 2005 to 2014.

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