The economic downturn is forcing Russia to follow the path of capitalism

economic slowdown occurring in Russia, forcing the country is finally beginning to real action after more than a decade of talk about the refusal of the world's largest exporter of energy from its oil dependence and reducing the influence of the state, reports Bloomberg.

Government intends to intensify work on the privatization of remaining in its ownership of enterprises, which number 5500, and is now revising the program. Prime Minister Vladimir Putin suggested that officials consider the privatization of federal state unitary enterprises. The prime minister said, they often work exclusively as a private firm, their main purpose is to make a profit, but at the same time they are free use of public property. He also drew attention to the fact that the Government should have a clear work plan on getting rid of surplus assets.

Putin wants to use proceeds from the sale of public enterprises to eliminate the budget deficit for next year that his government estimates at 6.8% of GDP, and the use of privatization as an impetus to the modernization of the state neglected infrastructure. The budget for 2010 laid the privatization revenues of 7 billion rubles. But, according to Russia's Economic Development Minister Elvira Nabiullina, the State may have in 2009 to sell the assets of tens of billions of rubles. We look at market conditions, we will not sell cheaply, - stressed the Minister.

Speaking at an investment forum in September, the bank VTB, Putin said that it is always well understood, as deceptive blind faith in the omnipotence of the state, how illusory hope that by the total interference in the economy can all develop. We have not witnessed a large-scale nationalization, or relapse into general administrative regulation. We have to preserve the free movement of capital and the convertibility of the ruble - the premier said. - I would like to stress once again and tell - return to the past will not be. Russia will remain a market, liberal economics .

Last year's drop in oil prices by 54%, which pushed Russia's economy into recession by 10,9% in II quarter, led the Government to resume work on its obligations to abandon dependence on commodity exports. President of Russia Dmitry Medvedev has repeatedly called the raw material dependence of the country's humiliating. Medvedev believes that the correct price for oil should now be $ 80-90 per barrel. Head of State, while noting that Russia is not interested in an infinite increase in oil prices, because it would interfere with the structural changes in the economy.

Although Russia's political leaders and express their determination to change course, some economists are skeptical about how the government will work to diversify the economy, if energy prices rebound. If the price of oil will rise and will reduce the budget deficit, then the incentives to carry out these reforms will be mitigated, - said Tom Mundy, a strategic analyst at Renaissance Capital .


Break of the previous maximum 1241 points on the MICEX index has provided the basis for further upward movement
As leaders of the growth of the banking sector: VTB Bank (3.9%), Sberbank (3.6%), among outsiders - shares of Rostelecom (-0.7%),
Stability of oil prices could create the conditions for their growth at a time when demand starts to grow
Today is expected rather busy day
Stock exchanges in Asia and the Pacific are now showing positive dynamics
Uproschentsy won Cabinet

Private entrepreneurs will pay pension contributions for the old rules …


RusHydro continues to fluctuate around the level of 1,05 rubles
Shares of Sberbank overcome local maxima, quotes, bank up and prompted the closure of the players 'short positions'
Greatest demand today enjoy the action of the oil, banking and steel sectors



Leave a Reply
\