Details on 2nd Day at SPIEF 2017 http://tass.ru/pmef-2017/articles/4303806
Putins Speech
The volume of gold and currency reserves of the Russian Federation reached $ 407 billion, said Russian President Vladimir Putin. "We started the year was $ 370 billion foreign exchange reserves, now $ 407 billion of foreign exchange reserves and is against the background of a sufficiently low external debt, somewhere around 12-13%.", - President said.
Putin: Russian sanctions have pushed for structural changes in the economy SHARE
http://tass.ru/pmef-2017/articles/4308207
The Head of State noted that the restrictive measures helped Russia "to include brains" instead of just oil and gas trade PETERSBURG, June 2nd. / TASS /. Sanctions have helped the Russian Federation "to include brains" instead of the oil and gas trade, pushed structural changes in the economy, said Russian President Vladimir Putin.
"There is also a plus: we, for example, prompted the development of entire sectors of the economy, - Putin said at a plenary session of the St. Petersburg International Economic Forum - This encourages the development of entire sectors of high-tech sectors of the economy had to turn on their brains, not just oil and gas dollars.. we had to push the development of certain technologies, fundamental and applied science. and it turns out! ".
SPIEF is held from 1 to 3 June. Events Forum combined the slogan "In search of a new balance in the global economy." TASS is the general information partner and the official SPIEF photochemical agency. In addition, the Agency operates the presentation area of the forum. SHARE
Kudrin's vision about the future of the Russian economy seems reasonable overall. He's not like "Russian economy can't have high growth rates and sanctions are absolutely terrible. We must surrender to Uncle Sam immediately."
in SPIEF, he suggested about the complete privatization of Russia's energy industry, he is quickly rebuffed by the kremlin. if giving private/foreign ownership (control) to Russia's strategic assets is Not considered surrendering to NATO/Globalists, i dont know what.
Russian Finance Ministry forecasts average oil price in 2018 at $40 per barrel
as much as I would wish for oil prices to climb further for the benefit of Russia, it will also contribute to Saudi Arabia's decades old program of world Islamization, with all the Islamists popping up almost everywhere there are muslims, I fear the future will be grim for all non muslims. So the more sooner Saudi Arabia disintegrates, the less likely radical islam will have a huge impact to non muslim lives, of course there will still be a point in the future where islam will need absolute reform, or else non muslims will have no choice but to resort to more extreme measures to protect ourselves from radical muslim onslaught.
Kimppis wrote:Well, I'm not going to watch the video, but according to some reports, there are surprisingly many Russians in "modern slavery" (whatever that actually means). Like 1 million IIRC, which makes Russia an outlier, considering the state of development (most countries in top 10 are really poor, except China, but it has a population of 1.4 billion). Indeed, maybe it's because the prison population is so large in Russia (it's falling, though), or something. So the video is probably not entirely made up (that is not how good propaganda works, but of course, nothing is too low for MSM when it comes to Russia), but it's still just a single case.
And isn't Kudrin quite likely to be the next PM? I don't personally dislike him that much. Sure, he's somewhat overly liberal/globalist and some of his views on the Russian economy are overly negative (which is actually OK when its for the domestic audience), but it seems that Putin still trusts him and his economic expertise. Kudrin's vision about the future of the Russian economy seems reasonable overall. He's not like "Russian economy can't have high growth rates and sanctions are absolutely terrible. We must surrender to Uncle Sam immediately." Quite the opposite, in fact.
In other news:
Russian economy’s growth rates to be above average global ones by 2020 — Putin
That would be great, and IMO, necessary. Anything (much) less means stagnation.
Positive effects of low inflation may be obvious in 2-3 years — Russia's Central Bank
Russian Finance Ministry forecasts average oil price in 2018 at $40 per barrel
Conservative estimates, which is nothing new, but I quote:
"We’ll have to live through the uneasy years of 2018 and 2019. And from 2020, we’ll be able to increase expenditures by slightly more than 500 billion rubles ($8.8 billion) a year."
That even in the scenario that oil averages $40? Not bad at all. I also read that the budget deficit is going to be close to 0%, if oil averages $50-55 this year, which seems likely. But hey, "Russia is running out of money hurr durr!!"
Kudrin wont ever become PM. He isn't liked by most within the circle, not to mention the country. Add to that, he isn't part of the parties anymore. He was given a position in a non-government organization for a reason.
One thing I noticed with a lot of foreign based posters excluding myself, is their fixation on Kudrin and wanting him in "this or that" position or think he is some kind of good guy or genious. But it seems that most of you have forgotten how Kudrin ran off to the US and complained about Medvedev which forced Medvedev's hand in firing Kudrin. Yes, he got fired from his position.
What most of you also failed to acknowledge is that Kudrin is what got Russia reliant on Oil and Gas, not the other way around. Sounds odd considering he want's to "Privatize it". But, good thing he has no authority, or say. So please, stop your fixation on the guy. He is a nobody in a nobody position.
In real news:
http://tass.com/economy/949530
It appears that there is a push growing for the use of cryptocurrencies in Russia and even allowing them on the Moscow Stock exchange. Expect when that happens, the popular trading cryptocurrencies will skyrocket. The CB is still planning a Cryptoruble.
Which cryptocurrency to trade in now since Bitcoin is nearly out of the hands of most due to its value? I don't know. Most are getting expensive where I cannot afford any.
in SPIEF, he suggested about the complete privatization of Russia's energy industry, he is quickly rebuffed by the kremlin. if giving private/foreign ownership (control) to Russia's strategic assets is Not considered surrendering to NATO/Globalists, i dont know what.
Fair enough. But as Miketheterrible said, they might limit the privatization to "patriot investors", so it wouldn't necessarily be a bad thing. And overall, his views on Russia and its economy are not particularly pessimistic. He's more or less part of the establishment... in a good way, that is.
as much as I would wish for oil prices to climb further for the benefit of Russia, it will also contribute to Saudi Arabia's decades old program of world Islamization, with all the Islamists popping up almost everywhere there are muslims, I fear the future will be grim for all non muslims. So the more sooner Saudi Arabia disintegrates, the less likely radical islam will have a huge impact to non muslim lives, of course there will still be a point in the future where islam will need absolute reform, or else non muslims will have no choice but to resort to more extreme measures to protect ourselves from radical muslim onslaught.
Yeah, and they are intentionally overly conservative, if anything. Which is a good thing and its a great way to decrease oil dependency. I guess 2014 showed that changes in oil prices are very difficult thing (at best) to predict. I think something like $60 per barrel woul be a good price. Oil consumption will keep growing globally, so the price must increase in the long-term. But there are so many opinions on the subject, so many variables and mid-term forecasts, that it's crazy...
Kudrin wont ever become PM. He isn't liked by most within the circle, not to mention the country. Add to that, he isn't part of the parties anymore. He was given a position in a non-government organization for a reason.
Good points. We'll have to wait and see... It seems that most people think that Medvedev is finished in any case... I personally don't support Kudrin, my view is more or less neutral. Just saying that he isn't that "bad". He's certainly one of the more influential "liberals", so it's no wonder that many Westerners want him as PM, compared to other realistic alternatives.
Regarding oil & gas, the dependency is exaggerated and it was more or less inevitable. Also, not a bad thing either. It's Russia's comparative advantage to export natural resources, just like Australia's (what a third-world shithole, btw), for example. Russophobes are never aware of that simple fact.
Last edited by Kimppis on Fri Jun 02, 2017 11:05 pm; edited 3 times in total
Hysterical political posturing. It really is getting annoying to listen to such Chicken Little BS. If Russia's economy survived past 1998 and managed to grow to the level it has today, then yapping about doom like Glazyev is doing is grotesquely absurd. He is becoming like a mirror image of Kudrin. Russia does not need these f*cking central planners since their idiotic theories will break Russia's economy.
kvs wrote:Kudrin is not even a real economist. That explains why he pimps neo-colonial, neo-liberal voodoo economics.
Even though im not a fan of Kudrin. and its privatizations wet dreams of everything. When it comes to Oil and Gas , i actually agree ,that Russia needs to privatize it , and sell it to guess who? to the Americans . And why Will Russia do such a crazy thing ?
What kind of benefits Russia will get for selling that business.
1)Because Americans will never end its war on Oil Prices and they have near infinite ways to get prices very very low by boosting ,flooding the market with Oil not only from US ,but also from Africa ,middle east. just to damage Russia. Is an economic war the reason why US flood market with oil ,that most of it ,they consume it.
2)Because it will allow Russia to work in alternative ways of clean energy that do not depend on Oil or NATURAL Gas. that are more cheaper. Russia needs to crash the oil prices to the button , to $5 dollar per barrel and see Saudi Arabia bankrupt. and collapse. This will provoke a civil war in Saudi Arabia ,and the US Economy will collapse ,when no longer dollars is used any more for buying oil. So RUssia will kill 3 birds in one shot , by collapsing OIL and gas business. It will break Saudi Arabia, It will sink US economy to a more reasonable level ,to the level of regional powers like France. means no more aircraft carriers and no more empire. and it will kill the financial support of ISIS and Alqaeda .
3)It will break NATO allies in middle east and it will end the pipeline wars of them.
This means that if Russia manage to create an alternative energy revolution ,using Hydrogen fueled cars ,or magnetism or solar energy ,electricity, whatever, that no longer the west will find a way to hurt Russia economy and at the same time Russia will damage theirs.
So this is what Russia really needs to consider seriously. in crashing middle east energy business and their Terrorism. it will take down also US as a super economy too. and Russia will become more immune to western sanctions.
Panel Chairman Mike Crapo of Idaho and top Democrat Sherrod Brown of Ohio said their bill would authorize "broad" new sanctions targeting sectors of Russia’s economy including mining, metals and railways.
It would codify and strengthen existing sanctions included in executive orders affecting Russian energy projects and debt financing in key economic sectors, the senators said in a press release.
Dick stroking US retards think that Russia will not impose counter-sanctions. So far the EU has taken the biggest hit from counter-sanctions, now it will be Uncle Scumbag's turn. He won't like it. But Russia will get yet more positive structural reform stimulus that will finally undo Yeltsin's comprador banana republic distortions of Russia's economy.
So for Russia these new sanctions will be a win. But for the exceptionally retarded people they will be a loss.
Of course they are here to stay. Mighty NATzO can't do f*ck all else aside from launching a war on Russia. The leaders of the exceptional, self anointed guiding lights of humanity, hyena pack that is NATzO also are under the extreme delusion that sanctions are damaging Russia's economy.
In fact, the damage came about as a result of the ruble devaluation in late 2014, which produced a large inflation spike that triggered a recession. No future sanctions are going to reproduce this effect, which was linked to oil prices. Russia is exiting and will continue into growth from the 2015 recession. NATzO can demand Crime be illegally returned to Banderastan all it wants. Wanting is not the same thing as getting.
At SPIEF 2017 it was signed more than 380 agreements worth about 2 trillion rubles
This year, the forum was attended by representatives of business, international organizations, experts, academics and journalists from more than 143 countries around the world
PETERSBURG, June 3. / TASS /. Petersburg International Economic Forum this year has collected more than 14 thousand. Participants. According to preliminary estimates, 386 agreements worth about 2 trillion rubles was signed at the forum fields. This was announced at the final press conference, presidential adviser Anton Kobyakov.
"The number of signed agreements is online increased year-on-year as at 8:00 on June 2, signed investment agreements and memoranda in the amount of 386, totaling about 2 trillion rubles.", - said Kobyakov. 356 agreements - According to him, 105 agreements in 2016 were signed in 2015.
At SPIEF-2017 was attended by representatives of business, international organizations, experts, academics and journalists from more than 143 countries worldwide. "Such a large number of participants with such a vast geography forum has never taken her for his 21-year history," - adviser said.
SPIEF business and expanding the program in the past year the main program included 72 events in 2017 as part of the main program was held 127 events. "On the sidelines of the meeting of the business forum held" twenty ", which will be held in Germany, the conference of BRICS and the SCO", - said Kobyakov.
On the site forum, Russian Academy of Sciences, together with the six Nobel laureates met from "Science: Looking to the Future."
Country guest SPIEF-2017 became India. Qatar announced its intention to perform a guest country in the next year.
Austin wrote:At SPIEF 2017 it was signed more than 380 agreements worth about 2 trillion rubles
This year, the forum was attended by representatives of business, international organizations, experts, academics and journalists from more than 143 countries around the world
PETERSBURG, June 3. / TASS /. Petersburg International Economic Forum this year has collected more than 14 thousand. Participants. According to preliminary estimates, 386 agreements worth about 2 trillion rubles was signed at the forum fields. This was announced at the final press conference, presidential adviser Anton Kobyakov.
"The number of signed agreements is online increased year-on-year as at 8:00 on June 2, signed investment agreements and memoranda in the amount of 386, totaling about 2 trillion rubles.", - said Kobyakov. 356 agreements - According to him, 105 agreements in 2016 were signed in 2015.
At SPIEF-2017 was attended by representatives of business, international organizations, experts, academics and journalists from more than 143 countries worldwide. "Such a large number of participants with such a vast geography forum has never taken her for his 21-year history," - adviser said.
SPIEF business and expanding the program in the past year the main program included 72 events in 2017 as part of the main program was held 127 events. "On the sidelines of the meeting of the business forum held" twenty ", which will be held in Germany, the conference of BRICS and the SCO", - said Kobyakov.
On the site forum, Russian Academy of Sciences, together with the six Nobel laureates met from "Science: Looking to the Future."
Country guest SPIEF-2017 became India. Qatar announced its intention to perform a guest country in the next year.
About forum
Looks like all the propaganda indices such as the "corruption perceptions index" and other crap from Freedom House or Heritage Foundation or whatnot is not succeeding in frightening off investors from engaging in the Russian economy.
By the way, some interesting numbers from Putin (I guess they are also available on Rosstat's website, but the English site is a mess... Maybe I should start using Yandex or Google to simply translate the Russian version, oh well, anyway...):
Vladimir Putin stated that industrial output in Russia was growing at 2.7% to 2.9% at present.
Judging from the volumes of cargo haulage at railways and the volumes of electric power consumption, the indicator may be higher than that.
Putin recalled that economic growth of 0.4% was registered in Russia at the end of last year. In the first quarter of this year, it was already 0.5. percent. In April, the indicator went up to 1.4%
More: http://tass.com/economy/949565
Industrial production hitting that symbolic 3% soon?
As you all know the sanctions have nothing to do with human rights , territorial sovereignty of Ukraine or not even with Putin. The whole thing is all about Western Elites in panic of Russia raise to power and influence in the world. so they made excuses and pretext to slowdown Russia economy in any way possible ,so that Russia could not modernize its nation ,finance more development and strenghten its military even more.
The last package of sanctions against Russia was because of North Korea . So they are not even trying to hide their hate and that their accusations are totally fake accusations against Russia.
This is all about undermining with cheating the competition. it this was sports,, lets say track n field ,if they see they can't win in a competition ,then they seek to disqualify the player by buying the judges and the organizers of the event. oh wait they already did this too.. lol the more sanctions on Russia and more they manage to hurt Russia economy , the less submarines ,pak-fa and Armata Russia will make. and the less competitive Russia will be in space and the less influential too in the world. and the more unemployment and more social unrest. So is all about Russia economy. thats their problem with Russia. is growing too much. and Russia is showing a significant more efficiency on their military with far less money. So the worse Russia economy do ,consequence of their sabotage of it, and the more easier will be for provoking unrest in Russia.
Because if Russia shows to be strong ,even after sanctions it could influence even Ukraine citizens ,the Pro Euromaidan ones to abandon their ideas of joining the EU and join Russia instead. So all this sanctions is all about weakening Russia influence and competitiveness with Americans in the world. because they are so losers ,that can face a fair competition. freedom market that they claim to support is a lie, they only support freedom in business only when it benefits significantly them at the expense of others.This sanctions also serve as a message to any other nation who seeks to oppose the westernEmpire and its ambitions of a total global hegemony.
This is why whenever ISIS attack Russia.. what is their main targets? Russia economy. Russia tourism. as was St Petersburg attack. So this is a perfect example of a "coincidence" of Western Powers and ISIS all aiming to attack the same thing. Russia economy.
When you know what American and Europeans elite are really trying to do. Collapse Russia economy ,from left to right . Then it can be very predictable which targets NATO proxy fighters , ISIS will seek to Attack. ST Peterburg and SOCHI and Moscu will be very high on the list because those are the most touristical places and the most influential cities Russia have to show to the world of who is Russia.
And which new targets NATO and its allies through its proxy fighters ISIS Will seek to attack ?
easy.. the few civilian business that Russia have that can help Russia diversity its economy and even influence the world in business.
but also Russia car industry , don't be surprised of mysterious accidents of people dying in LADA cars. and blamed on Russia.
This is a major problem Russia will face with developing technology with plans to sell it to the west. it will face a lot of industrial sabotage . But with Asia and friendly nations it will not have that problem.
Kudrin interview.
This is why Russia should push much harder in space , and becomes the world leaders there. Not many can compete there. Russia should really take very seriously Space tourism. not just around the earth but around the moon orbit too. It will be incredibly expensive at first but eventually prices will go down when technology manufacturing process mature. just like it happens with 100% of all technology ever created in the world.
Kudrin is optimistic on abolishing of sanctions , I can bet every penny I have and say sanctions wont be abolished not a dime not a I and T from sanctions list , infact codifying sanctions would mean they cant be abolished at all no matter who POTUS is.
This should be an eye opener for any one there and mostly the CBR
1 ) CBR should stop buying more treasury bills ( they already bought $100 billion ) which helps US Government borrow more to pay its bills
2 ) CBR should sell most of the US T Bills it has and instead buy Gold and IMF SDR
3 ) As counter sanction Russia should impose sanctions on buying any new Boeing aircraft , The down side is Boeing might stop buying Titanium from Russia it has long term contract but that is fine , Russian Titanium can be sold to Russian Aircraft Industry which is growing.
4 ) Beyond Food Sanctions , Russia should opt out of any bilateral Nuclear non-proliferation agreement it has with US and stop any activity in peaceful use of Nuclear Energy with US.
Austin wrote:Kudrin is optimistic on abolishing of sanctions , I can bet every penny I have and say sanctions wont be abolished not a dime not a I and T from sanctions list , infact codifying sanctions would mean they cant be abolished at all no matter who POTUS is.
I think the EU sanctions after with what happened with Americans exist only on paper now and as situation stands now the sanctions will not be extended next time.
You can see by huuge increase in trade and number of agreements that where previously on hold because of politics that nothing is holding on business.
Trump even did not have to met Putin to do its part
So this is what Russia really needs to consider seriously. in crashing middle east energy business and their Terrorism. it will take down also US as a super economy too. and Russia will become more immune to western sanctions.
How about instead of letting the US control Russian oil and gas resources, they keep them for Russia and use the money they earn to invest in alternatives.
Russia is made stronger by western sanctions because it is being forced to invest in itself instead of buying cheap food from the EU it is looking for other sources both internally and externally.
Russia should be looking to those same alternative countries for trade in goods and services to boost both economies and to build up both countries without feeding the western monster...
In a decade or so when the western monster has found more countries turning away from them and looking to each other they might treat others with something approaching respect... probably not though.
Russia should focus on improving the quality of life for all Russians in Russia and worry less about the plight of Russians elsewhere... if they are being bombed then move back home.
Austin wrote:Kudrin is optimistic on abolishing of sanctions , I can bet every penny I have and say sanctions wont be abolished not a dime not a I and T from sanctions list , infact codifying sanctions would mean they cant be abolished at all no matter who POTUS is.
I think the EU sanctions after with what happened with Americans exist only on paper now and as situation stands now the sanctions will not be extended next time.
You can see by huuge increase in trade and number of agreements that where previously on hold because of politics that nothing is holding on business.
Trump even did not have to met Putin to do its part
Lets not make virtue out of necessity , The reason why EU is taking some steps is because of its own necessity
EU can easily be arm twisted come the current or next POTUS and Biden has openly boasted about it.
Russia cannot be depend on good will of EU much less the US. It has to take certain actions to protect its own interest no matter how the good will stands today or tommorow.
Some of what I mentioned about like dumping US T Bills , Buying Gold/SDR and possible India/Chinese Bonds is to keep Russian Forex Safe , Thats the least CBR can and must do not buy more of it !
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