Tag Archives: Russian economic policy

Russian Central Bank Head May Be Out  This is the first English language report of this, as near as I can tell after some serious googling, but it is all over a lot of pretty serious Russian sources. Reportedly, Elvira Naibiullina, Head of the Russian Central Bank, left her position this past Tuesday or thereabouts.  It is unclear if she resigned or was fired, although the hints seem to be the latter. The buzz is that she is going to be made a...

Monetary Sovereignty, Sanctions and Russian Economic Policy The central role of economic sanctions in the US/EU strategy against Russia has returned international political economy to the center stage if it had ever left it.  Here are some thoughts occasioned by Adam Tooze’s interesting analysis of Modern Monetary Theory (MMT) as perceived by the Russian economic policy apparatus, connected to the role of monetary reform in the anti-colonial...

With all this “living history” in mind, Putin’s plan for such large-scale (and rapid) investment has generated the controversy in Moscow and resulted in three positions within the policy class. One fully supports the decision on the essentially Keynesian grounds that it will spur Russia’s annual economic growth, which has lagged below the global average for several years. Another opposes such massive expenditures, arguing that the funds must remain in state hands as a safeguard against the...

Russia’s new initiatives associated with sizeable increases in social spending and outlays on national projects as outlined by President Putin in his address to the Federal Assembly in the beginning of this year mark a new beginning in Russia’s economic policy. After extended periods of prioritizing the accumulation of savings and building of reserves, Russia’s economy is switching into spending mode, with greater weight accorded to economic growth compared to an overarching emphasis on...

Yesterday the State Duma in the third and final reading passed a bill increasing the rate of Value Added Tax from 18% to 20%. The increase will be effective starting from January 1, 2019. At the same time, Russian government is planning to keep the current reduced VAT rates (10% and 0%) for socially important goods and services. Thus, by the end of 2019 the budget will receive an additional RUB 620 bln, which will be used to implement President Putin’s spending plan.... AwaraRussia Passes...

"In general, our key task for the next few years is a significant raise of the citizens' real income. And there is a good foundation for that now. The economy has grown more stable, it has handled the sharp fall of oil prices, attempts to put pressure via sanctions, the changes of the global political settings," the president said, as quoted in the press release of the Kremlin, issued Monday. Sputnik International Putin Names Key Task for Russian Government in Coming Years