At the Moscow Financial Forum was held a business breakfast with the support of Bloomberg, whose guests discussed the issues of economic growth, the inflation situation, the Russia's place in the world market and other aspects of the economic system.
For the moment the resistance of the Russian economy to global differences increased very much, the price leaps in oil for 2 years were enormous, but the reaction of the economy was stable. The growth has slowed, but we are not talking about any recession for now,” – noticed Vladimir Kolychev, the Deputy Finance Minister of the Russian Federation, who raised the issue of the country's stable position on the world platform. If the economy is growing, the same is valid for the salaries and expenses of the population.
The various components of the fiscal maneuver affect the ruble. The main driver of economic growth are the investments. The work on the business climate is in progress, and it will produce results, but not immediately.
The partner, Head of Emerging Markets, Senior PM, BlueBay Asset Management Polina Kurdyavko named 5 factors that affect the development of the economy in Russia: the growth of the international economy, the demographic factor, the political and geopolitical stability, the desire, the motive and the ability to spend. “If now, for example, we look at the demographic diagram, Russia takes the 6th place, in 80 years we will share the 12-13th place with Pakistan. We often think over the demographic indicators in the long-term perspective, but we need to talk about it here and now, ” - she added. As for the geopolitical stability, things are better now than they were a few years ago. Russia is developing, is establishing relations with global players.
The foreign direct investment don’t depend on the cost of capital within the country. Many consider the loan to be the basis for financing of investments, but this is only an additional source, the basis is the owned capital. The way an investor relates to a market affects the state of that market. Once this statement was really working, many investors live with obsolete concepts.
“The investors are willing to pay, but for some reason not in Russia. We have a very low confidence, that’s why the investments don’t come, but 15 years ago it was much worse, it is already pleasing. It is necessary to understand what we mean by foreign investors, because almost 80% of investments are homegrown investors who work through offshore companies. Therefore, we need to study the remaining 20%, and not talk about imaginary stability,” - the director of Prosperity Capital Management Alexander Branis commented on the investment situation this way.
The Chief executive and chairman of the board of “FC Otkritie” bank Mikhail Zadornov touched on the topic of consumer lending, which significantly declined in recent years . “Retail sales are growing at a very slow pace, and consumer lending supports this demand. The decline in lending is a risk for banks, for this reason the demand for consumer lending is very important.”