Russian Economy General News: #5

Werewolf wrote:Kudrin, Serdyukow and Abrahamovic worked all in putins career either as president or as advicer, he had enough time to know them and still this 5th columnists were in power or have made their deal with the west, so what is your excuse for that?

Fact is 5th columnists of the upper families still dictate alot of who gets were in the kremlin and putin has not enough power to purge them all at once. He pardoned the subhuman Khordokovsky, he does not benefit from him, he is not in power, either he was maneuvered in position to release this subhuman out of jail due whatever measures and power the 5th columnists hold or he is kind of useful as a 5th columnist, organizing "protests" and other shady coup de etat work for the west.

If i had any kind of power i already would have started a massive purge, no jail times, just executions block for CBR every single oligarch, everyone that speculates on resources especially food, all people like kudrins, navalny, nemzovs and all the rest of the liberal subhumans who openly recieve instructions from US ambessadors, every russian official or any russian duma member who ever set a food into the US embassy without knowledge, approval and good reason with no other option but to tell Fuck off the US filth ambassador, no other reason to get in their, not to mention close that shit and jail the ambassador for violation of russian constitution and sabotage acts by giving instructions to traitors.

The west is very harsh on such subversive actions by any foreign government, while russia allows humane treatment of subhuman traitor scum that is working openly for the enemy, recieving and directing unrests by USAID funded NGO's against russians and entire russia and all slavic population.

like i said the times were different..
when putin came to power , Liberals Jews Pro NATO ,pro US imperialism ,controlled Russia..
they all flee to the west the most liberal ones. so he had to be as stealthy as possible to not be sacked from power in a counter coup..since they were too influential and powerful . He first tried to consolidate power first, gain people support ,gain popularity and later not after kick the liberals from power before showing its real face.. Its like sakers says. Putin at times wants to have closer their potential adversaries and not far.   but in 2013.. Russia was an entirely new nation, to the one in 2000.. ,about that time (2000) the price of Oil was at $20 per dollar.. the Russian economy 10% of the one they have now.. very weak Economy..and the oil companies in control of private hands.. So it was the wrong time to fight the powerful elite of liberals in Russia.. since 2013 Putin had more freedom to really do the things he wanted or most of it.
and today ..the 5th column is literary a dinosaur ,it no longer have any power in Russia at least in politics.

putin will have never be President of Russia or ever have a chance to be selected by
yeltsin and the elite to lead Russia.. had they though he was patriotic.. he fooled the Russian neoliberal elite into thinking he was pro USA and one of them.. but Putin is pro (what is good for Russia) and nothing else. He took the money of the west with open arms but he had his plans
to restore Russia posision in the world..and keep those plans hidden as much as possible..to not allow his enemies to regroup and remove him from power..

Next question?

By the record im not a big fan of Putin.. he is a good president and patriotic.and even a master in diplomacy..  His only problems is his short vision.. he is patriotic but not really a visionary.. and do not like to take risks.  If Mevdeved was more patriotic ,then he could be much better president for sure than putin.  ,because the IT revolution if im not mistaken was started by Medvedev . Putin is more a dinosaur thinker who thinks can make Russia safer by developing
better nukes and a larger navy.. He don't understand he could influence more the west by leading in technology in science and space than by building better nukes.

for example.. if Intel and AMD was a Russian Company ,and had the monopoly in the semiconductor industry world wide.. it will have been totally impossible for Americans to sanction Russia without serious blow back to them on their business industry ,same with Microsoft if was a Russian company.. there is no competition to that... This is why
the US congress and Pentagon do not sanction the Russia space program..

Because they depend on it they need that technology.. and that have saved Russia space industry from sanctions.. but this is the only sector in Russia industry that enjoy that
immunity. So Russia needs to become a NEED of the west in more sectors of their industy..and really innovating nation and create an industrial revolution.. so that they no longer could be sanctioned or any attemp to be isolated.. because the west will depend on Russia..
and something amazing will happen ,and that is Russia will be accepted as equal and respected.
for the first time.

Developing technology that everyone love and nobody else have.. could give Russia  
effectively the respect they want.. the immunity to economic warfare and sanctions. they need.
and immunity to be isolated. But Mr Putin does not get it.. neither his advisors.. he goes increase its defense budget ,developing useless things..and at the same time reduce the budget on its space industry.. the only things that could effectively allow Russia to Lift the economic siege from the west and pacify their hostilities.... sight.

kvs wrote:The Russian 5th column is a joke and Putin knows it.   He is toying with them like a cat with some small animal it has cornered.   Having them
sent to the martyr afterlife is not a good choice for Russia.   Having these retards alive and spouting off about "bydlo" Russians is the perfect
self-snookering.  

The CBR should be squeezed tighter, I agree.  It is still pursuing monetarist voodoo but it also serves to maintain the psychological stability
of Russian markets inside the global markets.   Having Stalin-esque Draconian management of the economy would do a lot of damage.   Russia
was saddled with a market economy, so it needs to follow at least the critical rules.   But I think it is doing an excellent job of steering domestic
markets to serve state interests and not to act like a banana republic.   Obama's yapping tells me that NATO was expecting Russia to respond
to the sanctions like a banana republic, but the opposite happened.

I am not talking about Stalin-esque economical management, even tho it worked for larger scale, i am talking about Stalin-esque purges of 5th columnists, they are a problem and a big one, burning resources and avoiding focus of the problems RF has to solve, by intervening and constant attempts of coup de etats is certainly a concern. Right now it is not a big concern, but who follows after Putin? Letting this scum do like they wish in the squalling position of the feces they consume, they may rize again if another yeltzin or even a shadow of yeltzin is ever elected or selected by the 5th columnist intervening and coup de etat policy.

Purge them all and make the country a better place.

Werewolf wrote:

kvs wrote:The Russian 5th column is a joke and Putin knows it.   He is toying with them like a cat with some small animal it has cornered.   Having them
sent to the martyr afterlife is not a good choice for Russia.   Having these retards alive and spouting off about "bydlo" Russians is the perfect
self-snookering.  

The CBR should be squeezed tighter, I agree.  It is still pursuing monetarist voodoo but it also serves to maintain the psychological stability
of Russian markets inside the global markets.   Having Stalin-esque Draconian management of the economy would do a lot of damage.   Russia
was saddled with a market economy, so it needs to follow at least the critical rules.   But I think it is doing an excellent job of steering domestic
markets to serve state interests and not to act like a banana republic.   Obama's yapping tells me that NATO was expecting Russia to respond
to the sanctions like a banana republic, but the opposite happened.

I am not talking about Stalin-esque economical management, even tho it worked for larger scale, i am talking about Stalin-esque purges of 5th columnists, they are a problem and a big one, burning resources and avoiding focus of the problems RF has to solve, by intervening and constant attempts of coup de etats is certainly a concern. Right now it is not a big concern, but who follows after Putin? Letting this scum do like they wish in the squalling position of the feces they consume, they may rize again if another yeltzin or even a shadow of yeltzin is ever elected or selected by the 5th columnist intervening and coup de etat policy.

Purge them all and make the country a better place.

Repressing them makes them stronger. The best medicine for these maggots is a good deal of light shining on them and their activity.
Generous quotation of their anti-Russian drivel renders them into circus clowns with zero chances. Russia is nothing like Ukraine.
There are not enough Russian idiots to organize any serious sedition. Uncle Sam may try, but his efforts are total flops. As soon
as these maggots are thrown in jail they will become "victims of the regime" and will have a chance at taking over.

Putin should give one of his TV interview sessions and announce his retirement and the options for who he thinks is fit to
govern Russia. The Russian people will vote accordingly.

SWIFT equivalent "practically" created inside Russia — Central Bank Chief

MOSCOW, September 17. /TASS/. An equivalent of Belgian SWIFT has practically been created in Russia, Central Bank Chief Elvira Nabiullina said on Thursday.

"Work is on track," the Central Bank Chief said. "As far as financial messages transmission is concerned, we have practically set up a SWIFT counterpart in Russia," Nabiullina said. The system contemplates competitive tariffs and the regulator is ready to develop and improve this service, she added.

Several dozen banks are ready to use it, Nabiullina said. The head of the Central Bank said that the SWIFT equivalent is being developed with maximum use of Russian IT technologies. "Many complained our microelectronics is poorly developing and so on, but demand is needed to develop domestic production. We are generating such demand," Nabiullina said.

It was reported earlier that Russia’s SWIFT counterpart would be launched in fall 2015. The need for having a domestic SWIFT and a national payment system became more acute after sector sanctions were imposed against Russia last year.

The Society for Worldwide Interbank Financial Telecommunications (SWIFT) transmits 1.8 billion communications a year, remitting payment orders worth $6 trillion a day. The system comprises over 9,000 banks from 209 countries.

Under the SWIFT charter, groups of members and users are set up in each country covered by the system. In Russia, these groups are united in the RosSWIFT association.

Russian Finance Ministry puts budget deficit in 2015 at 3% of GDP

The Finance Ministry is gradually shifting to a model when budget deficit is fully financed using market borrowings without the Reserve Fund’s resources

MOSCOW, September 17. /TASS/. Budget deficit will reach 3% of GDP in Russia in 2015, Deputy Finance Minister Maksim Oreshkin said at Fitch conference on Thursday.

"Deficit will stand at around 3% of GDP by the end of the year," he said, adding that in 2016, under conservative forecast budget deficit will not exceed 3% of GDP in Russia either.

In 2016, the situation with budget deficit will most likely be managed despite the fact that revenues will slightly fall compared with the previous year, Deputy Minister said.

In Q1 2015, revenues were quite high due to a surge in retail sales and particular taxes in the oil sector, Oreshkin said. "Next year we won’t have such good results as we had in the first quarter. The key task here is to maintain deficit at the level of 3% of GDP in terms of expenditures," he said.

The Finance Ministry is gradually shifting to a model when budget deficit is fully financed using market borrowings without the Reserve Fund’s resources. According to the official, the plan is to shift to this model within 3 years.

Russian Finance Ministry to get round to 3-year budget planning in 2016

According to the official, the Russian Finance Ministry may get round to 3-year planning of the budget in 2016.

"After 1-year budget next [year] I think we’ll get round to 3-year budget and will consider 2017-2019 budgets," he said.

Currently, it’s not quite reasonable to assume liabilities for 3 years, he added.

George1 wrote:Russian Finance Ministry puts budget deficit in 2015 at 3% of GDP

The Finance Ministry is gradually shifting to a model when budget deficit is fully financed using market borrowings without the Reserve Fund’s resources

MOSCOW, September 17. /TASS/. Budget deficit will reach 3% of GDP in Russia in 2015, Deputy Finance Minister Maksim Oreshkin said at Fitch conference on Thursday.

"Deficit will stand at around 3% of GDP by the end of the year," he said, adding that in 2016, under conservative forecast budget deficit will not exceed 3% of GDP in Russia either.

In 2016, the situation with budget deficit will most likely be managed despite the fact that revenues will slightly fall compared with the previous year, Deputy Minister said.

In Q1 2015, revenues were quite high due to a surge in retail sales and particular taxes in the oil sector, Oreshkin said. "Next year we won’t have such good results as we had in the first quarter. The key task here is to maintain deficit at the level of 3% of GDP in terms of expenditures," he said.

The Finance Ministry is gradually shifting to a model when budget deficit is fully financed using market borrowings without the Reserve Fund’s resources. According to the official, the plan is to shift to this model within 3 years.

Russian Finance Ministry to get round to 3-year budget planning in 2016

According to the official, the Russian Finance Ministry may get round to 3-year planning of the budget in 2016.

"After 1-year budget next [year] I think we’ll get round to 3-year budget and will consider 2017-2019 budgets," he said.

Currently, it’s not quite reasonable to assume liabilities for 3 years, he added.

That Russia runs deficits is actually significant progress. Several years ago, under the monetarist voodoo thrall, Russia was obsessed with
balancing the books at all costs. Of course this is patent nonsense since there is something called opportunity cost. You can save your
dollar today and lose several as a result. Of course, OECD style fake GDP growth through cheap credit and debt accumulation is also bad
and Russia is clearly not following that path.

Austin wrote:This news is more stark  

Media: The Finance Ministry proposes to increase the retirement age since 2016

http://tass.ru/ekonomika/2268984

This sort of thing concerns me a lot more than any low oil price or delay in the exploitation of a new gas field.

But it's an example of Russia taking a course towards improving economic 'efficiency', at the expense of people's living standards.

And Naibullina is doing a great job - lay off here. Floating the rouble is leading to an export boom and could be just what Russia needs at this stage.

flamming_python wrote:

Austin wrote:This news is more stark  

Media: The Finance Ministry proposes to increase the retirement age since 2016

http://tass.ru/ekonomika/2268984

This sort of thing concerns me a lot more than any low oil price or delay in the exploitation of a new gas field.

But it's an example of Russia taking a course towards improving economic 'efficiency', at the expense of people's living standards.

And Naibullina is doing a great job - lay off here. Floating the rouble is leading to an export boom and could be just what Russia needs at this stage.

Russia needs to take advantage of its weaker ruble.. and be very aggressive in attracting investors.. For example Russia have Enormous Continent as a Land ,largely not used..
Russia can attract major foreign capital.. whether mining ,agriculture or even better state of the art technolgy.. by offering free land for foreign business f money ,and free tax in the far east ,for foreigners for the first 2-3 years.. for any investor . and at the current Ruble enchange rate ,it will also be a huge bonus..
since anyone with dollars or Euros could quickly a business in Russia and just pay very low in salaries. and later export the technology outside. This could be a competition for China.. so
Russia needs to be careful to try to avoid any damage to CHina. So for example a company
that builds satellites could make them in Russia and save a ton of money. Or engines of all cutting edge civilians planes or boats or cars or cruisers world wide could be translated from Europe to Russia. THis will promote HUGE boom in jobs for Russia..

Another Area that Russia can work is Tourism.. Really this is an understament .since will be more cheap now to start a Tourist Resort.. way more.. Russia can give free land ,for as long the
resort operates there ,and free taxes the first couple of years of operations.. Russia in change
will get state of the art new infrastructure ,sochi like facilities and lots more jobs.. also Russia needs to promote more its internal Tourism.

It should be embarrassing why i say the Russian Government is not very productive and competent ..because the Russian Government media does not promote Russian Business or Russian tourism.. but the 5th column private media do it. Putin have a popular international media RT.com..or sputnik.. but don't take advantage of it..at all.. with advertisements.

take a loot at Russian 5th column liberal media.. Russia beyond the headlines.

http://rbth.com

They have a  travel section and they do lots and lots and more lots of reports of good places
to visit in Russia.. This is pure incompetence of the Russian Government and another major
problem they have.. they do not advertise themselves. they don't promote Russia as a touristical place.  I only knew for example about St Peterburgs palaces.. that are stunning ,only because using youtube.. because i use search function alot and was looking for the history of Russia..  but for 99.9% of people in the west.. they will never be aware that there are palaces in Russia at all.. they all think Russia is a communist or former communist country and that all infrastructure look like the 70s.. from soviet times.  Sochi is an exception.. but overall Russia Government does a very poor job is promoting Tourism in Russia from abroad. Russia also needs entertainment parks.. that are at the level of what you see if Florida USA.. the
new aquarium is a good first step.. and in sochi they have a mini park for children but that is
not enough... have to get more.

The western media ,and television , since I have memory ,the only thing that shows about
Russia is nukes and tanks..and old infrastructure. and being a very dated nation with no freedom. a land without freedom of expression .Thats the image the west give to all people about Russia.  So is really interested dynamic.. that.. Russia Government does not promote in any way Russia.. but the west DOES PROMOTE Russia... yes.. but as a really outdated ,poor and repressive nation.  and its just offensive every time i see reports of Russian traveling to Turkey or Europe or America and not spending their money in their mother land or in friendly nations
to Russia that helps Russia economy.  Maybe the government is to blame for not creating better
tourism attractions.. but in short RUssia miss a lot of opportunities and needs to fire the people who works in promoting tourism..  They need to fire Oleg Safonov.. his job so far is terrible..

What is funny about this.. is that i have see normal Russian citizens,,with just a camera ,
uploading videos in youtube ,not paid.. DOING WHAT THE RUSSIAN GOVERNMENT is supposed to do. and they promoting Russia..  But traveling cost money..and their funding is very limited
so they only cover what they can about their cities.

Everything i know about Russia.. is thanks of curiosity using search function in youtube..
but 99% of people will not do this.. they go to youtube for music ,movies or news. or reality shows.

take for example Real Russia Channel in youtube..



That guys have done more for Russia for free ,selling it ,advertising it ,as an alternative place
not only  for Tourism but also for living.. than the whole Russian Government in a decade. His
use his own money..so he is limited to travel to UFA where he lives.. but he even managed to
visit for a day Sochi and moscu.. but most of his reports are where he live.. Had the Russian Government had anyone competent there in the tourism .. they will hire someone to do what he does..but cover all Russia.. not just one small zone.  So is sad.. how much opportunities the Russian Government miss.. maybe they are too busy chasing corruption or creating stupid laws and not in promoting Russia economy.

Someone need to tell Putin and its Government..

IF you dont advertise something, it will not sell.. no matter how good it is..
This is a very basic universal business law.. that is well understood in America ,but pretty much seems is not yet understood in Russia by its politicians.

Why adversing is everywhere in the west. if people not aware of what Russia have to offer ,how they expect to promote Tourism? and the information war that exist in the west against Russia
does not make things any better.. Russia government does not promote Russia..and the western media never miss any opportunity that is forced to talk about Russia ,to let everyone know "how Russia sucks" and "outdated "nation that is. with "repression" and "poverty" ..etc..

They dont have any excuse for being so lame.. they have RT ,they have sputnik news ,so its not like they don't have the mediums to promote tourism ,is simply lack of interest. Anyone with interest can promote Russia and for free..so  lack of government funding is not an excuse.

I am curious about it would be to obtain bitrubles and trade with them and whom would be willing to trade in them.

If I am able to obtain bitrubles through my home computer, then I think I would be enticed to start doing it.

I hope it happens! This would be a very interesting move and may entice other countries to do the same (Syria, Iran, etc etc) and be able to trade with each other through this method.

sepheronx wrote:I am curious about it would be to obtain bitrubles and trade with them and whom would be willing to trade in them.

If I am able to obtain bitrubles through my home computer, then I think I would be enticed to start doing it.

I hope it happens!  This would be a very interesting move and may entice other countries to do the same (Syria, Iran, etc etc) and be able to trade with each other through this method.

as far i guess/understand..yes..

Is virtual coin..( ie non physical..) and you buy it through internet but also through terminals.
This is really a smart move.. because Russia can switch currency from ruble to bitrubles very
quickly if a major economy crash happens world wide..and people only accept gold. With this
bitRubles Russia in theory should be able to price the oil they sell at any price they want..
and probably bypass the low oil value in dollars. The way i see it.. is like an ideal currency
in times of a world wide currency crash.. or times of war.. and not have to use Physical gold
for example. But Russia needs to be careful with the virtual currency.. like Bitcoin for example.
can be used for terrorism. to finance them and not have any trace of who give the money and who received it. So virtual coins is a double edge sword and needs to be regulated and monitored.. not allow unknown people to trade unlimited money.

I know in venezuela there was a group working to make a venezuelan bitcoin alternative. I wonder if this is on the same premiss?

PapaDragon wrote:
''Russia's Recession Bottoms Out

Statistics point to the worst being over, with signs of recovery starting to grow''

http://russia-insider.com/en/society/russias-recession-bottoms-out/ri9799

Perhaps the most remarkable figure of all is that aggregate foreign debt is expected to fall to $500 billion by 1st October 2015 – testament to the speed of the economy’s deleveraging.

That the Russian economy has paid off roughly a third of its foreign debt during a period of falling oil prices without sinking into depression is a sign of its underlying strength and resilience. With the Central Bank’s reserves now standing at $365 billion, the day when they will overtake the amount of foreign debt may not be so far off.

But of course Russia's credit rating according to western muppet rating agencies will never increase and will remain at Ba1 or lower.

GDP is slightly down with 3% and inflation is now quite low already, running at an annual rate of about 6%

like I have said before, compared to 2009, this is minor. But there are policies that should be followed to guarantee GDP growth like cheaper credit for short term loans (making long term loans at high credit is OK cause it can round out the ones who are already in bad credit obtaining more).

Once the religious banking system in Russia starts up, I imagine there will be spur of loans growth. But it wont be bad loans, it will be loans that are gauranteed to get paid back as they are considered community lending and would be loaned to people whom are known in that community. That is my understanding how the Islamic banking rules also worked. That is what the orthodoxy priests are saying they want their banking system to work.

sepheronx wrote:
Once the religious banking system in Russia starts up.

Is that a banking system with no interests?

Karl Haushofer wrote:

sepheronx wrote:
Once the religious banking system in Russia starts up.

Is that a banking system with no interests?

Yes

sepheronx wrote:

Karl Haushofer wrote:

sepheronx wrote:
Once the religious banking system in Russia starts up.

Is that a banking system with no interests?

Yes

I don't get it. Why would anyone loan money to another person without interest?

Nice

Russian software exports totaled $ 6 billion

i hope this sanctions stay at least till end of 2016 cant belive how much they actaully helped only when our asses are burning we russians are taking actions to reform ourselfs to the calls of challange that are made in our directions.

7 major reforms were now taken since the sanctions hit.

http://www.doingbusiness.org/reforms/overview/economy/russia

plus several huge efforts in the agricultural sphere

I would give you +1. Didn't know Doing Business Ranking keeps tracks of all of these changes year by year.

Russia’s Bitruble to be World’s First State-Controlled Cryptocurrency

Bitruble, a new Russian cryptocurrency, will be issued and circulated under control of Russia's Central Bank. It is expected to compete with Bitcoin and other cryptocurrencies.

This picture taken on June 20, 2014, shows a man placing his phone next to a Bitcoins (virtual currency) dispenser at La Maison du Bitcoin in Paris.

Russia is the first country in the world to introduce a national cryptocurrency which would be strictly regulated by the national central bank, the Spanish newspaper El Mundo reported.

Earlier this week, Russian mobile payments company Qiwi announced it is developing a new "bitruble" cryptocurrency which is supposed to enter circulation in 2016.

According to the newspaper, Russia’s "unusual initiative" would result in the creation of a formidable rival to Bitcoin and other cryptocurrencies.

Bitruble will be very similar to Bitcoin, but unlike any other cryptocurrency, it will be regulated by the Russian Central Bank. The bank will strictly control the emission and circulation of Bitruble to prevent it from being used for illegal transactions.

Cryptocurrencies have no material form and global currency regulation does not apply. An unlimited number of anonymous sources could issue and use the currency.

Russian law bans the issue of any currency not approved by the Central Bank of Russia.

Currently, the Central Bank and Qiwi are in talks considering the issue of Bitruble. The sides are working to adjust the decentralized issue of the cryptocurrency to the Russian law.

Read more: http://sputniknews.com/business/20150918/1027204933/russian-national-cryptocurrency.html#ixzz3mK6G52rf