HOPE FOR BUSINESS REPRESENTATIVES: PLENARY SESSION OPENED THE SECOND DAY OF THE MOSCOW FINANCIAL FORUM

The second working day of the Moscow Financial Forum was opened by the plenary session “Economic Reforms in Russia: evolution and today's priorities”. The session was attended by the First Deputy Prime Minister — Minister of Finance of the Russian Federation Anton Siluanov, the President, Chairman of the Management Board of Sberbank German Gref, the Chairman of the Management Board of “UK ROSNANO” LLC, the Chairman of the Board of the Fund for Infrastructure and Educational Programs Anatoly Chubais.

The speakers discussed the possible directions of changes in the Russian economic system, what experience of past years should be taken into account and what it’s necessary to be prepared for.

The First Deputy Prime Minister – Minister of Finance of the Russian Federation Anton Siluanov, speaking at the session, said that the state needs to improve the microclimate for conduct of business in Russia. “We have a wonderful macroeconomics. Such macroeconomics, as in Russia, probably doesn’t exist in any other country. But microeconomics, microclimate, protection of property rights, accessibility of doing business, availability of resources are not high. In order for the economy to "go", in addition to general economic conditions, it is also necessary to give hope to business representatives. To make it clear that we won’t change the conditions and ensure the protection of property rights, ” — underlined Anton Siluanov.

According to German Gref, the state needs diversification in the economy. “Raw shock lies ahead. A decrease of oil consumption in the world will lead to very low prices for it. We must prepare for new risks. The issue of diversification is no less acute than existing ones,” — said German Gref. He added that Russia already has unique opportunities for effective work that will help to resolve this problem.

“The management of the economy and the management of the state is in some ways a simple thing. It’s like driving a car. Everywhere there’re pedals: one is gas (economy), the other is brake (law enforcement system), these are the most important elements for controlling the system. They managed to press both pedals so that the bones crack. But today there are no recipes to resolve economic problems,” — Anatoly Chubais commented on the situation.

The issue of national projects arouse a discussion. An increase in budgetary expenses won’t lead to anything, thinks German Gref. “There is no need to influence radically the monetary policy. National projects won’t give results. The answer lies in a different plane. In economics, there are goals, resources, people. What is required in the model is a clear goal-setting. This didn’t happen before, ” — he said.

The Minister of Finance Anton Siluanov didn’t agree with him. “The national project is one of the tools to achieve the goals. Of course, it isn’t the only one. Structural changes are also needed. But national projects really help, the state provided huge funds for their implementation, it invests large resources in achieving the designated in them goals, ” — said the Minister.

It is worth reminding that on the second day of the Mosfinforum 12 business events are planned, the participants of which will discuss various aspects of the financial, tax and economic policy of the state.
Share