Russian Economy General News: #7

miketheterrible wrote:None of those have anything to do with what you state, nor back up your statement at all.  Maybe it may not have occurred to you, but your stupidity knows no bounds as you can somehow thinks cause = effect.  It isn't.  China has human capital where its cheap labor is what drove nations to China for development.  Much like India.  As well, if you truly think that it is a free economy in the sense that there is equal competition in China for work, then you are very ignorant.  Cell phone use has nothing to do with it.  Every person in India, even in the gutters, has a fucking cell phone you dimwit.  As for modern slavery, I wonder if they account for prisoner work, because then US would be on the top of the charts.  But what is even funnier, is that there really isn't much data on Russia but hell, it isn't hard to find on China.

Continue to think what you want.  Doesn't stop me from thinking you are not only retarded, but that your incompetence in argument shows.

As KVS has said, it is like a shoe making industry.  It is labor intensive.  If they got some super advanced machinery, then not even Canada has it then.  Have you played Hockey? I have, for a long time.  I can tell you the difference in quality and build of skates.  I can also tell you that Chinese made equipment is cheap for a reason.  If you think not, then you have not paid much attention to details.

Project Canada wrote:
Putin approved the strategy of economic safety of Russia up to 2030

The decree on this was published on the official website of legal information.

"RF Government to develop in the 3-month period of the measures of organizational, regulatory and methodical nature, required for the implementation of the Russian economic security strategy for the period up to 2030, and to ensure their implementation", - the document says.

The strategy is designed to prevent the crisis in the resource-based , industrial, scientific, technological and financial fields, as well as to prevent the decline in the quality of life of citizens. In addition, it provides for the improvement of the response mechanism in the event of Western sanctions.

Earlier it was reported that Russia developed a strategy of economic security as a response to new challenges and threats to the country's national interests. As noted, in a situation where retained a low susceptibility of most sectors of the national economy to an innovation and high dependence on foreign technology, there is a need to develop modern approaches to economic security. The document defines the main directions of state policy in this sphere and mechanisms to solve key problems.

WASHINGTON, May 16 - RIA Novosti, Alexei Bogdanovsky. Russia has increased in March, investments in US government bonds by 13.5 billion dollars - up to 99.8 billion, according to a US Treasury Department report.

Russia now ranks 15th among the state-holders by the volume of the portfolio of US government securities. In the first place is still Japan, whose portfolio amounts to 1 trillion 118 billion dollars, followed by a small margin followed by China, which is in the portfolio of US debt at $ 1 trillion 87 billion.

Austin wrote:Looks like Central Bank is bent in purchasing US Treasuries  , They have increased US T Bills to ~ $100 billion

In March, Russia increased investments in US government bonds by $ 13.5 billion

WASHINGTON, May 16 - RIA Novosti, Alexei Bogdanovsky. Russia has increased in March, investments in US government bonds by 13.5 billion dollars - up to 99.8 billion, according to a US Treasury Department report.

Russia now ranks 15th among the state-holders by the volume of the portfolio of US government securities. In the first place is still Japan, whose portfolio amounts to 1 trillion 118 billion dollars, followed by a small margin followed by China, which is in the portfolio of US debt at $ 1 trillion 87 billion.

https://ria.ru/defense_safety/20170515/1494335251.html

par far wrote:

Austin wrote:Looks like Central Bank is bent in purchasing US Treasuries  , They have increased US T Bills to ~ $100 billion

In March, Russia increased investments in US government bonds by $ 13.5 billion

WASHINGTON, May 16 - RIA Novosti, Alexei Bogdanovsky. Russia has increased in March, investments in US government bonds by 13.5 billion dollars - up to 99.8 billion, according to a US Treasury Department report.

Russia now ranks 15th among the state-holders by the volume of the portfolio of US government securities. In the first place is still Japan, whose portfolio amounts to 1 trillion 118 billion dollars, followed by a small margin followed by China, which is in the portfolio of US debt at $ 1 trillion 87 billion.

https://ria.ru/defense_safety/20170515/1494335251.html

I am no expert in this kind of thing but it maybe a good tool to have in cause if you have to put pressure on US if needed.

Austin wrote:Kommersant says SAP 2018-2025 will cost 17 trillion rouble compared to SAP 2011-2020  cost of 19 Trillion rouble

https://www.kommersant.ru/doc/3299342

miketheterrible wrote:

Austin wrote:Kommersant says SAP 2018-2025 will cost 17 trillion rouble compared to SAP 2011-2020  cost of 19 Trillion rouble

https://www.kommersant.ru/doc/3299342

When they say 19T rubles, I take it they don't mention the money being used from it to upgrade existing facilities and manufacturing bases?

As the Prime Minister of the Russian Federation said, the action plan of the Cabinet of Ministers assumes that the Russian economy will enter the growth rates at the level and above the world average in the period 2019-2020


BOCHAROV RUCEI, May 19. / TASS /. Prime Minister Dmitry Medvedev presented President Vladimir Putin with a government action plan for 2017-2025.

The government's action plan until 2025 assumes that the Russian economy will enter the growth period at the level and above the world average in the period 2019-2020, the prime minister said.

"In accordance with your instructions, the government has prepared a comprehensive plan - these are general approaches to how our economy and social sphere can develop in the period from 2017 to 2025, as you rightly said, bearing in mind the task that was set by the president in Message, "Medvedev said at a meeting with Russian President Vladimir Putin.

"Namely, the output somewhere in the period 2019-2020 on the growth rate of our economy at the level of the world average and above the world average will enable our economy to develop faster and solve major social problems," the Prime Minister specified.

"The plan itself is aimed at it, it includes quite a few different proposals," Medvedev said.

They, he said, should be discussed, with a view to the parallel development of relevant proposals by the expert community. "We are in direct contact with them, we are discussing various proposals," the prime minister said.

Importance of economic strategy

Russia should have a clear plan for the development of the economy and social sphere, regardless of personalities and political schedule, the Russian president said.

"I asked the government to prepare a plan for the development of the economy, determine the prospective areas of development, the means to achieve these goals for the period 2017-2025. I mean not only domestic political and internal political agenda, but also that our well-known blueprints for 2020 we Were forced to adjust them accordingly, and the 20th year is already around the corner, "Putin said.

"Regardless of any personalities, regardless of even the internal political schedule, the country must have a clear and understandable plan for the development of the economy and social sphere," he said.

He reminded that expert groups also work on the relevant plan. "But, of course, the work that was carried out by the government of the Russian Federation should be at the heart of all the proposals made," the Russian president said.

He suggested the Prime Minister to discuss the ideas of the government, and then the final version will be adopted on the readiness and development of experts.

Draft strategy from the government

The head of the Ministry of Economic Development, Maxim Oreshkin, said earlier that the government's draft plan for the development of the economy until 2025, which involves the implementation of measures to accelerate growth to the world average, should ensure predictability of economic conditions for doing business in Russia and for citizens. The key factor for accelerating the growth rate should be the topic of increasing labor productivity.

To develop the plan, the Ministry of Economic Development and Trade has created 10 working groups in various areas, including tax policy, support for exports,

In February, Medvedev presented several key areas of the plan. So, according to the prime minister, one of the main tasks for the period until 2025 is to ensure the stability of macroeconomic dynamics and the system of tax payments. Another block of measures concerns the improvement of efficiency in the sphere of employment. The third most important task the head of government called the creation of a smart economy, based on the intellectual potential of the nation, on the achievements of science and technology.

The fact that the draft government program for economic development is in the final stages of preparation, the president said on May 15, answering journalists' questions. At the same time he said that in the near future the Prime Minister will represent her.

Work of experts

In addition to the Cabinet, other experts are working on development programs, in particular Stolypin Club, as well as the Center for Strategic Research (CSR), headed by former Finance Minister and Deputy Chairman of the Economic Council under the President of the Russian Federation Alexei Kudrin.

Last week, during a meeting with journalists, the president promised that not only will they familiarize themselves with all the proposals of experts in the Kremlin, but they will also look at "what can be done on the basis of these proposals as a way of strategic development of the economy and social sphere of our country for the coming years" .

Putin did not agree with the view that such programs often remain on paper and are not being implemented. According to him, the strategies develop the direction of movement in development and determine priorities, even if the economic reality makes its own adjustments.

Kudrin's plan

The CSR also intends to soon submit to the head of state its proposals on the development strategy of Russia until 2025. As Kudrin told journalists, the corresponding meeting is scheduled for the end of May.

According to Kudrin, unlike previous programs in the new strategy, issues of social development, community values, judicial and law enforcement system, integration of the Russian Federation into international programs are touched upon.

The head of the CSR noted that he will hold public wide discussions on important blocks of the program. He explained that prior to this discussion of the strategy went on among professionals in closed mode, albeit in a broad format. The next round of discussions can also be held with the involvement of the media, he said.

On May 15, answering journalists' question about why the draft strategy of the CSR is not discussed publicly, Putin advised the media representatives to "blame Kudrin" for this. The head of state spoke in favor of such documents being submitted for broad public discussion.

The Bank of Russia in April 2017 purchased 200,000 troy ounces (about 6 tons) of gold, according to the Central Bank.

As of May 1, the volume of stocks of monetary gold in international reserves reached 54.2 million ounces (1.686 tons), the bank said. As of April 1, this figure was 54 million ounces (about 1,680 tons).

At the same time, the value of gold in reserves, as follows from the materials of the Central Bank, increased by 1.6%, to $ 68.653 billion.

Financial and analytical portal Investbrothers with reference to the Ministry of Finance of the Russian Federation said that Russia continues to successfully repay its public debt to creditors. In April 2017 the Russian Federation paid on bonds of two billion dollars. Thus, at the beginning of May 2017 the total debt of the Russian Federation amounted to only 48.6 billion dollars, equivalent to only 3.2% compared to the GDP of the state. However, of this amount, 35 billion related to bond loans, 11.7 - in state guarantees, and 1.8 to other small loans.

Investbrothers reports that the repayment of the remaining debt will be made over the next 26 years.

Next year Russia will give creditors $ 3.5 billion in 2019 - 1.5, and in 2020 - 4.3 billion.

Analytical portal said that since last year the level of public debt is kept at the same level with minor variations. However, over the past three and a half years, the total amount was reduced to $ 7 billion, or 12.5%. At the end of the analytical material Investbrothers concluded that today in Russia there are no major problems with the servicing and repayment of debt. Moreover, you can safely increase the amount of borrowed funds, if necessary, of the Russian Federation.

Recall that the US national debt for 2017 is equal to 19 trillion dollars, and the main economic department has sounded the alarm, because the situation with the credit obligations raises some concerns. In this regard, in the United States are seriously considering the possibility of approval of Ultra-long bonds have maturity dates ranging from 40 to 100 years. At the same time now the maximum term is 30 years.

President Donald Trump will maintain Obama-era sanctions against Russia over its role in the Ukraine conflict and may even strengthen them, his top economic adviser said.

“We’re not lowering our sanctions on Russia,” White House National Economic Council director Gary Cohn told reporters Friday in Taormina, Sicily. “If anything, we would probably look to get tougher on Russia.”