the Chairman of the accounts chamber of the Russian Federation Alexey Kudrin said that currently the Russian economy is in the center of the “perfect storm” caused by the pandemic coronavirus infection COVID-19, as well as falling oil prices and devaluation of the ruble in February—March this year.
“We are now passing the peak (of the crisis — ed.), situated in the centre of the “perfect storm”, then it will be easier and easier,” — said the head of the control Department in an interview with TASS.
Kudrin believes that economic growth is possible next year, however, in his view, “it will be less” than the 3.5-4% expected “on the most optimistic forecast”. “There are analysts that for some indicators we only 2023 will be able to reach the level of last year. Therefore, economic growth remains a major task and requires a systematic, integrated approach. Before the crisis, these efforts were insufficient, and now they have even bigger increase,” — said the head of the chamber.
Speaking about the national plan to rebuild the economy, which is currently being finalized by the government, Kudrin stated about the need “to provide stronger changes in the economy, because 2021 will need to use to change the structure of the Federal budget, significant support for small and medium-sized businesses, reducing the regulatory burden on businesses”.
“According to the government, the national plan worth 5 trillion rubles, including measures already announced in the three packages. For 2020 laid 2.8 trillion rubles, of which 133 billion roubles — on activities that were not included in previous packages, and 2021 laid 2.4 trillion rubles, of which new measures — about 300 billion rubles. So a national plan added approximately 430 billion support for two years. Now it would be hard to write some detailed, detailed plan”, — said the head of the controlling Agency.
He does not exclude that “two or three months will be required to submit an updated national projects, and, I think, will be more bold systemic structural measures”.
Recall that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.
may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.
on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.
on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be about 5 trillion rubles.
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