Russian Economy General News: #6

Project Canada wrote:

More than 40% of top managers plan to leave Russia

Almost one in every six senior Russian managers plans to move to another country within the next two years, while even more – 42 percent – are considering emigration.

The French Senate has voted in favor of a resolution designed to lift EU-imposed sanctions slapped on Russia in 2014 over the crisis in eastern Ukraine and reunification with Crimea. The proposal calls for a "gradual relief" of restrictive measures imposed by the West.

The vast majority – 302 senators – voted for the move, with only 16 being against the lifting of anti-Russia sanctions. In all, 335 politicians were present at the meeting in the Luxembourg Palace.

The motion is non-binding, however.

The initiatives of deputies and senators, aimed at pressuring the government, have “no binding force because the renewal of the embargo is made in Brussels and requires unanimity of the 28 Member States,” Le Figaro reported.

higurashihougi wrote:As expected. The lessons of Mistral scandals and agriculture sanctions are hard enough.

Kremlin press secretary Dmitry Peskov said he would have to check whether the president had ordered the shutting down of existent special economic zones and abstinence from opening new ones and called those instruments highly inefficient.

"The [special economic zone] institute is highly inefficient. At least it has proven to be inefficient in our country. It is too expensive, the return is meager, and its efficiency factor is zero," Peskov told reporters on June 9.

"I will have to check with documents, I am not ready to say now," Peskov said, adding that the president's order did not apply to rapid development territories.

"This does not apply to rapid development territories. Rapid development territories are a separate institute, which has been rather successful, growing and demonstrating positive dynamics," Peskov said.

ExBeobachter1987 wrote:Kremlin calls special economic zones inefficient

Kremlin press secretary Dmitry Peskov said he would have to check whether the president had ordered the shutting down of existent special economic zones and abstinence from opening new ones and called those instruments highly inefficient.

"The [special economic zone] institute is highly inefficient. At least it has proven to be inefficient in our country. It is too expensive, the return is meager, and its efficiency factor is zero," Peskov told reporters on June 9.

"I will have to check with documents, I am not ready to say now," Peskov said, adding that the president's order did not apply to rapid development territories.

"This does not apply to rapid development territories. Rapid development territories are a separate institute, which has been rather successful, growing and demonstrating positive dynamics," Peskov said.

sepheronx wrote:

Karl Haushofer wrote:But why doesn't the Russian government make it harder for them to take money out of the country? Tax them more.

Taxing them more will just increase number of people wanting to hide their money away. But I would agree though that if they give them some sort of incentives like increase taxes for these individuals caught hiding money abroad but lower it back down to normal if they bring money back. But then again, rich people will find a way to move it somewhere else. They always do. Oligarches and other rich people do not hold a flag as some would say.

MOSCOW, 11 Jun — RIA Novosti. The share of Russia in goods turnover of the EU in recent years has fallen from 10 to 6%, while Brussels wants to maintain access to the Russian market, said the EU Ambassador in Moscow Vygaudas Usackas in an interview with portal Kaliningrad Pregel.me.

He noted that in numerous missions — from Kaliningrad to the Far East he met with representatives of Russian business and the vast majority of Russian businessmen and investors have believed and continue to believe that the EU is the main economic partner of Russia."
According to the diplomat, this is confirmed by the facts: the EU accounts for 46% of Russian trade turnover, and from there to Russia receives 75% of foreign investment in the EU market, sold 70% of Russian hydrocarbons.
"So Russia's dependence on the EU are obvious, as well as our desire to maintain its position in the Russian market of 140 million inhabitants and consumers. We want to keep access to your market. Although, I have to admit, in recent years the share of Russia in goods turnover of the EU fell from 10% to 6%," — said Ushatskas.
According to Usackas, he has three years working with the EU Ambassador to Russia and will stay in this position for another year.
"Unfortunately, these four years in my life and in relations between the EU and Russia will remain in history as a period of crisis management. I will go down in history as a "crisis Ambassador", "Ambassador-at-crises". From this point of view that I build my work, understanding the scale of the differences and realizing that we need to keep the bridges of communication and cooperation where possible. Differences appear and disappear. While the work of a diplomat is to preserve the best between us," he added.

After March 2014, the Crimea by referendum became part of Russia, the West was gradually imposed sanctions against her. In response, Moscow has restricted the import of food products from countries that joined the sanctions. The EU on 28 and 29 June will consider the issue on prolongation of anti-sanctions, which expires on July 31. The number of States willing to raise the issue on the abolition of restrictions.

РИА Новости http://ria.ru/economy/20160611/1445827585.html#ixzz4BGiEGIZL

TheArmenian wrote:I am surprised nobody posted this:

Central Bank cuts interest rate from 11% to 10.5%

http://www.1prime.biz/news/_Russian_cbank_says_cuts_key_rate_by_05_pp_to_105/0/%7B0838DC5F-E891-434F-8599-1E3CCEBE09C6%7D.uif

Singular_trafo wrote:

sepheronx wrote:

Karl Haushofer wrote:But why doesn't the Russian government make it harder for them to take money out of the country? Tax them more.

Taxing them more will just increase number of people wanting to hide their money away.   But I would agree though that if they give them some sort of incentives like increase taxes for these individuals caught hiding money abroad but lower it back down to normal if they bring money back.  But then again, rich people will find a way to move it somewhere else.  They always do.  Oligarches and other rich people do not hold a flag as some would say.

Taxation gives value to the currency, and creating the sovereign country.

They must be able to taxate everyone , without that ti won't work.

the EU accounts for 46% of Russian trade turnover,

and from there to Russia receives 75% of foreign investment in the EU market, sold 70% of Russian hydrocarbons.

ExBeobachter1987 wrote:

the EU accounts for 46% of Russian trade turnover,

A few years ago, it used to be over 50%.

and from there to Russia receives 75% of foreign investment in the EU market, sold 70% of Russian hydrocarbons.

Too much. It should be lowered.

ExBeobachter1987 wrote:

the EU accounts for 46% of Russian trade turnover,

A few years ago, it used to be over 50%.

and from there to Russia receives 75% of foreign investment in the EU market, sold 70% of Russian hydrocarbons.

Too much. It should be lowered.