Russian Economy General News: #9

Hole wrote:Yandex can´t be as big as Google because it runs against barriers. The EU would never let a russian company in. Amiland the same. Running android on all platforms? No problem. But a russian OS?

EU is not the whole world, it is like 1/14 of world population quickly falling down in reltive economical power  Is anybody forbidding Yandex to work in India/China/Indonesia/Vietnam or Brazil/Mexico? half of world population?  

The problem is money, financing, Yandex cannot afford to such investments as Google can. But chinese Baidu or Alibaba yes they are catching up quickly. Why? money perhaps?.

Medvedev approved the state guarantees for bonds within the "factory of project financing"

The volume of state guarantees is 294 billion rubles
MOSCOW, June 9. / TASS /. Russian Prime Minister Dmitry Medvedev signed a decree on state guarantees for 2018 on bonds to be issued by Vnesheconombank's structure within the "project financing factory". The corresponding document is published today on the government website .

The volume of state guarantees provided for in the federal budget is 294 billion rubles.

"The adopted decision is aimed at launching the mechanism of a" project financing factory "and attracting investors' funds by placing bonded loans secured by a state guarantee," the explanatory note to the resolution notes.

About the program
The Project Financing Facility is a joint project of the Ministry of Economic Development and Vnesheconombank, which provides for financing projects through syndication on the basis of the "80 by 20" principle, where 20% is the initiator's own funds, 80% - borrowed funds syndicated through tranches to reduce the risks of project participants.

First of all, the Factory will support large-scale projects (worth more than 3 billion rubles), aimed at creating new high-tech industries. The borrower will have a floating rate, and if the maximum is exceeded at this rate, the project will receive a budget subsidy that will compensate for the costs when the rates increase.

Earlier, VEB reached agreements on participation in the Factory with VTB, Gazprombank and Sberbank, as well as with Zenit Bank, the Eurasian Development Bank, the All-Russian Bank for Regional Development, Sovcombank and the International Investment Bank.

The volume of funds and transactions, which will be carried out under the Project Finance Project, will exceed 1 trillion rubles in 2018, reported the Russian Economic Development Minister Maxim Oreshkin.

VEB during the St. Petersburg International Economic Forum agreed to consider providing funds for the implementation of eight projects within the Project Finance Factory. The total value of these projects exceeds 700 billion rubles.

Подробнее на ТАСС:
http://tass.ru/ekonomika/5278357

https://rusreality.com/2018/06/08/the-government-decided-on-the-draft-pension-reform/

“The government adopted the option of increasing the retirement age for men is five years, to 65 years, for women — for eight years, to 63”, — is spoken in the message published on the website of RBC on Thursday evening.

Meanwhile, one source noted that “while not eliminated, and more soft for women “scenario 65/60″ (men/women)”.

Such parameters, according to sources RBC, was proposed by the Finance Ministry (the office is not confirmed).

5th column is flexing it's muscle as most extreme option of of 65 male and 63 female is most likely to pass. They are getting their way and next US sponsored colour revolution in Russia will likely not be a fuck up like the one in 2012 was. Now they have their people at top positions of influence preparing terrain for maximum crisis necessary to get their puppets (probably Kudirn himself, or Navalni) in to power. They are also slowly amassing additional military forces on Russian border to be ready to intervene when opportune moment strikes:

“We will also agree a NATO Readiness Initiative – the ‘Four Thirties’ – to ensure that by 2020, we have 30 mechanised battalions, 30 air squadrons and 30 combat vessels, ready within 30 days or less,” said Secretary General Jens Stoltenberg. Ministers will also discuss fairer burden-sharing, as well as NATO’s efforts to project stability and fight terrorism, including in Iraq.

https://www.nato.int/cps/en/natohq/opinions_155263.htm

Most of you guys are fcuken idiots , no real facts, hardly any economic news just stupid opinions and assumptions , no wonder this site aint popular with stupid comments like this,

"5th column is flexing it's muscle as most extreme option of of 65 male and 63 female is most likely to pass. They are getting their way and next US sponsored colour revolution in Russia will likely not be a fuck up like the one in 2012 was. Now they have their people at top positions of influence preparing terrain for maximum crisis necessary to get their puppets (probably Kudirn himself, or Navalni) in to power. They are also slowly amassing additional military forces on Russian border to be ready to intervene when opportune moment strikes:"

shut the fcuk up, post some news.

getoverit wrote:Most of you guys are fcuken idiots , no real facts, hardly any economic news just stupid opinions and assumptions ,  no wonder this site aint popular with stupid comments like this,

"5th column is flexing it's muscle as most extreme option of of 65 male and 63 female is most likely to pass. They are getting their way and next US sponsored colour revolution in Russia will likely not be a fuck up like the one in 2012 was. Now they have their people at top positions of influence preparing terrain for maximum crisis necessary to get their puppets (probably Kudirn himself, or Navalni) in to power. They are also slowly amassing additional military forces on Russian border to be ready to intervene when opportune moment strikes:"

shut the fcuk up, post some news.

FUCK OFF TROLL.

Mods, please ban this faggot.

He is correct though.

As well, Revenue with Yandex is $1.5B USD.  That is more than enough to easily expand in other markets.  IT Infrastructure doesn't cost billions for data storage and what not, especially when moving to other nations.  Millions maybe but they will recoop their losses within a year easily. Plus they are already in 17 countries.

They are still trying to gain full advantage of Russian market before expanding.  But for most part, they already expanded.  The rest is just stupid diatribe from you idiots.

I agree with the new poster.  It is all opinions that are worthless with zero basis.  Even I am almost done with this site.

No need for Europe to buy US gas at triple the price, will continue imports from Russia – Austria

https://www.rt.com/business/428809-austria-american-gas-exports-senseless/

getoverit wrote:Most of you guys are fcuken idiots , no real facts, hardly any economic news just stupid opinions and assumptions , no wonder this site aint popular with stupid comments like this,

"5th column is flexing it's muscle as most extreme option of of 65 male and 63 female is most likely to pass. They are getting their way and next US sponsored colour revolution in Russia will likely not be a fuck up like the one in 2012 was. Now they have their people at top positions of influence preparing terrain for maximum crisis necessary to get their puppets (probably Kudirn himself, or Navalni) in to power. They are also slowly amassing additional military forces on Russian border to be ready to intervene when opportune moment strikes:"

shut the fcuk up, post some news.

Rude language notwithstanding I would have to make some observations here:

1) I am 99% certain that he is quoting that moron Vann and his paranoid rants so I understand his reaction

2) Fact that rants by assorted idiots are tolerated do no favours for this forum overall

3) He is right, someone might post some economy related news here (either that or switch title to "Vann and ZoA's daily bullshit)

PapaDragon wrote:

getoverit wrote:Most of you guys are fcuken idiots , no real facts, hardly any economic news just stupid opinions and assumptions ,  no wonder this site aint popular with stupid comments like this,

"5th column is flexing it's muscle as most extreme option of of 65 male and 63 female is most likely to pass. They are getting their way and next US sponsored colour revolution in Russia will likely not be a fuck up like the one in 2012 was. Now they have their people at top positions of influence preparing terrain for maximum crisis necessary to get their puppets (probably Kudirn himself, or Navalni) in to power. They are also slowly amassing additional military forces on Russian border to be ready to intervene when opportune moment strikes:"

shut the fcuk up, post some news.

Rude language notwithstanding I would have to make some observations here:

1) I am 99% certain that he is quoting that moron Vann and his paranoid rants so I understand his reaction

2) Fact that rants by assorted idiots are tolerated do no favours for this forum overall

3) He is right, someone might post some economy related news here (either that or switch title to "Vann and ZoA's daily bullshit)

So hating shock therapy atlanticists will get you banned? Gee, its almost like you just want capitalist NATO opinions in here...

a new pole in making

SCO countries will study the prospects of expanding the use of the national currency in trade

QINDAO (China), June 10 - RIA Novosti. The countries of the Shanghai Cooperation Organization (SCO) will study the prospects of expanding the use of national currency in trade and investment activities, the Qingdao Declaration of the Council of Heads of State of the SCO states.

"The member states are in favor of further strengthening practical cooperation in the banking and financial sector, including to explore the prospects for expanding the use of national currencies in trade and investment activities," the document says.

The parties also note the urgency of intensifying exchanges in the area of ​​financial control and management, interaction in the field of balanced macroeconomic management and control over financial structures in order to provide convenient access and fair conditions for the formation of networks of financial structures and their services.

РИА Новости https://ria.ru/economy/20180610/1522478543.html

getoverit wrote:Most of you guys are fcuken idiots , no real facts, hardly any economic news just stupid opinions and assumptions ,  no wonder this site aint popular with stupid comments like this,

shut the fcuk up, post some news.

comments as long as are based on facts and contain no offensive language are OK .That's why forms are for isnt is?

miketheterrible wrote:

As well, Revenue with Yandex is $1.5B USD.  That is more than enough to easily expand in other markets.  IT Infrastructure doesn't cost billions for data storage and what not, especially when moving to other nations.  Millions maybe but they will recoop their losses within a year easily.  Plus they are already in 17 countries.

They are still trying to gain full advantage of Russian market before expanding.  But for most part, they already expanded.  

what data did you base on stating that Yandex can fight on equal foot with world giants? True they do what they can but surely without substantial financing it will be hard develop new services, acquire startups and so on. Yandex has IMHO one option -> go in still unsaturated niches (as with Sberbank into "Amazon") with co-investors and eventually ask for extra money form govt. But ther I dotn think they will get unless they fully move to Russia,


If you thing this is only about adding some cables you're wrong unless you have some hidden data that I didnt find?

Infrastructure

https://www.google.com/about/datacenters/inside/locations/st-ghislain/

Google is proud to call Belgium home to one of our data centers.

In April 2007, we announced that we would invest €250 million in building an energy-efficient data center near the towns of St. Ghislain and Mons in Belgium.

The facility, which became fully operational in September 2010, now serves Google users across Europe and around the world. It was the first Google data center worldwide to run entirely without refrigeration, using instead an advanced evaporative cooling system that draws grey water from a nearby industrial canal. This helps keep our computers running at their highest efficiency and reduces overall energy use.

In 2013, we announced an additional investment of €300 million to build a second phase of our energy-efficient datacenter and meet growing European and global demand for our services. This expansion was completed in 2015.

R&D

Yandex spends only about ~350mln$ /yr for R&D.
https://ycharts.com/companies/YNDX/r_and_d_expense


Alphabet (Google) ~ 19 blns $
https://ycharts.com/companies/GOOG/r_and_d_expense


Alibaba ~ 3,5 blns $
https://ycharts.com/companies/BABA/r_and_d_expense

Baidu ~2 blns $
https://ycharts.com/companies/BIDU/r_and_d_expense

That's because they choose to spend that amount. Read their overall company value and profile. A lot of money has gone into JV's and buying out startups. So they go through different methods of obtaining IP a example.

Yandex is rather flushed in cash.

miketheterrible wrote:That's because they choose to spend that amount. Read their overall company value and profile. A lot of money has gone into JV's and buying out startups. So they go through different methods of obtaining IP a example.

Yandex is rather flushed in cash.

Yes as for company of their size they do very well. Nonetheless . IMHO JV is one of good ways to of project financing but not necessarily technology (what Sberbank will bring besides their customers bases?)

R&D is one of the way to see how much company is investing in future (new services,technologies). It is good comparing to their turnover. Nonetheless Google R&D funding is 2 orders of magnitude higher... Their turnover or capitalization is also a fracture of what competitors have.

But look at Baidu. AFAIK they more investing now in autonomous vehicle tech then in search engine...because growth will be higher in this market. I can see new tech as a chance for Yandex to grow to critical mass

Austin wrote:No need for Europe to buy US gas at triple the price, will continue imports from Russia – Austria

https://www.rt.com/business/428809-austria-american-gas-exports-senseless/

I wonder how Alexander Van der Bellen will end up? Sudden "corruption affair" resulting in his resignation? Massive Soros sponsorship of his political opponent and some election rigging during next presidential election? Or maybe "car accident" like Jörg Haider? Colour revolution in Austria? Could happen. Will be interesting to see.


BTW in addition to recent colour revolution in Armenia and Jordan, plus ongoing attempts in Venezuela, US just started one in Nicaragua too. Wonder who will be next? My bet is Hungary is on the short list. Could be Belarus but Lukashenko is more competent then average imbecile in surrounding countries as he already survived ad lest 3 attempts of colour revolution, so it is unlikely to work all that well against him. Could be Poland as they are insufficiently servile to foreign dictates as seen in supreme court and Israel relations problems. Maybe Serbia again as they don't seem to be sufficiently committed to sucking NATO balls as it is demanded from them. Probably some of the stans could be next. Turkey is certainly a target, but unlikely as that sleazy peace of slime Erdovan is too cunning and competent to fall for that shit again after last US failed attempt few years back.

Russia is target too naturally, but i dont think they plan to do it soon, as in Russia's case time is on their side with Kudrin's "reforms". In abut 5 years time unemployment in Russia will hit about 20% with massive fall of personal incomes, just before next presidential election in which, because of Russian constitution, Putin will not be able to run. Instead they will have to deal only with Medvedev that is unpopular as it is, and will be even less popular when Kudrin's gang dumpsters Russia's economy.

My scenario will be 4 years of Kudrin acting out his fake public image of "great corruption fighter and economy expert " as economy rapidly degrades thanks to "reforms" he formulated. Then year or two before next presidential election he will fake some grand corruption affair blamed primary on Medvedev as his targeted opponent in that elections. Kudrin will resign with fanfares in protest of "Medvedev's corruption" and move to position where he will be sanctified by Russian liberal press as "great corruption fighter and only one that can save Russia from Medvedev corruption that destroyed Russia's' economy". After that stunt he will only have to deal with Communist party before taking presidency and becoming next Yeltsin. He may simply send tanks at them like Yeltsin did in 1993.

And on the side waiting there will be NATO 30 regiments and 30 squadrons in the west , and US Marines, Japan and Korea navy in the east ready to snap up easy isolated targets like Kaliningrad and Kuril's once internal political situation in Russia is sufficiently destabilised to prevent meaningful response.

Ad least that is what I imagine is CIA/DIA/NSA/ONI plan for Russia for next 5 years. We will see if it will work or not, but for now it appears to me it is smooth sailing for them as all their pierces are in the right places dong what they need to do.

BTW for of you that think I'm just paranoid, and US is just harmless girlscout that has no clandestine designs against Russia, I think it is time for you to sober up. But still I u.

The US added to the sanctions lists of three Russians and five companies associated with the Russian Federation

http://www.interfax.ru/world/616600

Who cares.

Also, Yandex is working and tested driverless cars too.

Not that I'll ever get one as I don't trust the tech.

Against Lagarde: why Russia does not want to get into debt

https://ria.ru/economy/20180612/1522206543.html

No, Thanks: Why Russia is Wary of Borrowing Abroad

Austin wrote:No, Thanks: Why Russia is Wary of Borrowing Abroad

very true indeed. All people calling fo empty money printing to me live in rather parallel reality

The head of the executive committee: the ONF project saved the state more than 270 billion rubles.

Alexei Anisimov recalled that one of the tasks that the constituent congress set before the movement was the struggle against corruption
MOSCOW, June 13. / TASS /. The implementation of the project of the All-Russian People's Front (ONF) "For Fair Procurement" allowed to save the state more than 270 billion rubles. This was reported by the TASS head of the executive committee of the ONF Alexei Anisimov in an interview timed to the fifth anniversary of the founding congress of the movement.

He recalled that one of the tasks that the leader of the ONF, the president of Russia Vladimir Putin, put at the founding congress was the fight against corruption. For this purpose, a project "For Fair Procurement" was created, aimed at identifying questionable monetary expenditure. "From the monitoring of dubious and prodigious public procurement, the project has now moved to investigating, searching for" gray "schemes, working with insider and its subsequent verification." Today, this is a full-fledged anti-corruption project, "Anisimov specified.

According to the head of the executive committee of the ONF, for the entire period of this project, "state funds of more than 270 billion rubles." Were saved. " "These are dubious purchases, the abolition of which we achieved through the FAS, through the prosecutor's office, as well as schemes and cartel collusion of business and officials, where after our actions violations were eliminated," Anisimov explained.

The founding congress of the ONF was held on June 12, 2013.

Подробнее на ТАСС:
http://tass.ru/ekonomika/5285836

Austin wrote:No, Thanks: Why Russia is Wary of Borrowing Abroad

Morons in NATO forgot that sanctioning Russia would deprive them of a major customer for their banks.

miketheterrible wrote:Who cares.

Also, Yandex is working and tested driverless cars too.

Not that I'll ever get one as I don't trust the tech.

at some point of time you might have no choice to say no


BTW Kamaz protype:


https://sdelanounas.ru/blogs/108227/

kvs wrote:Morons in NATO forgot that sanctioning Russia would deprive them of a major customer for their banks.

indeed they miscalculated. This is the price of underestimating enemy.  
BTW Last "Russia maidan" in Moscow: 1,700 people came (like 10 parties called ) on 15mln agglomeration?  0.00011? or milder

0.011%  


Something tells me once Russian reserves reach point to neutralize external debt blackmail more money will flow to investment.

The first accelerated container train left Barnaul for China

https://sdelanounas.ru/blogs/108220/

ZoA wrote:v in addition to recent colour revolution in Armeniav

after which new leader first visit came to Moscow to bow before Putin ? whoa

plus ongoing attempts in Venezuela, US just started one in Nicaragua too.

That only proves that irrational economic policy has no future. You can be either poor and stable as Cuba or try go get on top and go way of Russia or China (only for enough big states) .

Could be Poland as they are insufficiently servile to foreign dictates as seen in supreme court and Israel relations problems.

no Hungary nor  Poland. You missed the point both countries have more less successful economic situation (Polish GDP is like +4,5%; 1,6% inflation this year, GDP PPP per capita 26000 $).
Venezuela: inflation 25000 %, GDP -10% (or -15% IMF) , GDP PPP 3,500$ (from 15,500$ in 2014)

now you see the difference?

Russia is target too naturally, but i dont think they plan to do it soon, as in Russia's case time is on their side with Kudrin's "reforms".

you clearly live in a parallel reality thinking that doing nothing, printing money for ever growing army of pensioners and not investing in new economy is bringing profits.
Countries that follow you advice are to my knowledge Zimbabwe and Venezuela.



[qoute] And on the side waiting there will be NATO 30 regiments and 30 squadrons in the west , and US Marines, Japan and Korea navy in the east ready to snap up easy isolated targets like Kaliningrad and Kuril's once internal political situation in Russia is sufficiently destabilised to prevent meaningful response. [/quote]

you really smoke something I'd like to try but only on Friday's right ok?  NO destabilization take place in strong country , regardless if it is  called regime, communist or free democratic. Get real. Maind in China, Russia, Iran or USA aint gonna happen.

BTW for of you that think I'm just paranoid, and US is just harmless girlscout that has no clandestine designs against Russia, I think it is time for you to sober up. But still I u.

yes you are harmless to us but I am afraid you can harm yourself. I love you too      

Sergei Glazyev publicly accused the government of treason

http://x-true.info/71096-sergey-glazev-publichno-obvinil-pravitelstvo-v-predatelstve.html

At a recent economic congress in St. Petersburg, presidential adviser Sergei Glazyev publicly accused the head of the Central Bank Elvira Nabiullina that in the past four years, due to the policies pursued by the Central Bank's leadership, Russia has received losses of 25 trillion rubles.

We see that the losses, according to our estimates ... because of the archaic, incompetent macroeconomic policy have already reached 25 trillion rubles.

Sergei Glazyev argued that only 10% of the negative impact on the economy is the sanctioning policy of the collective West. And 90% is government activity. Moreover, Glazyev argued that the collective West and, at the very least, the leadership of the Central Bank, are pursuing a concerted policy of restraining the Russian economy, and declared readiness to provide evidence.

So, the financial and economic block of the government artificially and deliberately overstates rates on loans and purposely suppresses economic and investment activity of citizens. A real business is being systematically destroyed in the country, the Russian banking system is being cleaned and put under the control of the West, etc.

Although in his speech Glazyev brought down his righteous anger solely at the head of the Central Bank Nabiullina, the public at the congress understood perfectly well what the adviser to the Russian president on economics did not say (whose names he did not mention).

This people, in their majority, naively continues to believe that Medvedev and Nabiullina are engaged in economic sabotage contrary to Putin's wishes, and the president does not yet have any real tools to curb this anti-popular economic policy.

At the economic congress in St. Petersburg the "not ordinary people" were going to gather - these gentlemen are well aware of how the Kremlin cuisine is organized, who makes decisions and how. And whose word is always last and decisive. Accordingly, all perfectly understood, for whose ears this report was prepared.

And now Kommersant informs its readers that this week will be published decrees by Vladimir Putin on changes in the staff of the presidential administration of the Russian Federation.

In particular, Sergei Glazyev, presidential adviser on economic issues, will be dismissed.

"Ears" heard everything and followed the corresponding conclusions of the organizational conclusions.

And on June 14, the Government meeting will be held, at which events will be approved to increase the retirement age: men - up to 65 years, women - up to 63 years.

Austin wrote: Sergei Glazyev publicly accused the government of treason

This people, in their majority,

naively continues to believe that Medvedev and Nabiullina are engaged in economic sabotage contrary to Putin's wishes

, and the president does not yet have any real tools to curb this anti-popular economic policy.

oh well all that x-true (cough coudh name) article is best characterized here. Glazyev is criticizing CBR indeed his right. But he is not against securing banking system. He is not against targeted investment.
He didnt talk about sabotage. to me

In particular, Sergei Glazyev, presidential adviser on economic issues, will be dismissed.

That means that after Medvedyev he can be in govt.

And on June 14, the Government meeting will be held, at which events will be approved to increase the retirement age: men - up to 65 years, women - up to 63 years.

1) thats needed otherwise social security system will flip over and die. No of critics say where to take money to pay ever growing money to pensioners form?! besides R&D

2) Medvyedev to me stayed mostly for that reason - all unpopular reforms will be on him...

ACRA tald about multibillion losses of the banking sector of Russia

https://ria.ru/economy/20180613/1522587468.html

MOSCOW, June 13 (RIA Novosti). The Russian banking sector, amid the reorganization of large credit institutions last year, received a cumulative loss of 300 billion rubles in accordance with IFRS, ACRA experts estimated.

ACRA: Russian banking sector will be "skidding" for at least three years
"Identification of a significant amount of problem assets and reserve on them (in reorganized banks - ed.) Led to the formation of a net loss in the sector of about 300 billion rubles in accordance with IFRS," - said in a study available to RIA Novosti.

It is noted that the belated identification of giant "holes" in the capital of the largest credit organizations in 2017 could be a "shock" for the Russian banking sector, but the Bank of Russia provided support of about 1.5 trillion rubles to complete the reserves for distressed assets that turned out to be " The perimeter of the "Fund for the Consolidation of the Banking Sector (FCCC).

Moreover, the banks that are on the reorganization of the FKBS have recognized losses of 1.45 trillion rubles.
Russian banks in 2017 received a profit under RAS in the amount of 790 billion rubles. In early February, the head of the regulator Elvira Nabiullina reported that the profit of the banking sector in 2018 is projected at 1.5 trillion rubles, but may be lower due to the reorganization of the three large banks.

The Central Bank last year took three major Russian banks for rehabilitation through the managing company of the Federal Financial Monitoring Service. In August and September, the Central Bank announced a readjustment through FCS Bank "FC Opening" and Binbank, in mid-December - Promsvyazbank.

РИА Новости https://ria.ru/economy/20180613/1522587468.html

[/quote]

hahaha I am starting to like him in this function. Medvyedev && Co will have a hard life now.

Kudrin spoke about the unfulfilled targets from the May decrees

MOSCOW, June 13 (RIA Novosti). Some targets from the economic block of presidential May decrees have not been achieved, the head of the Accounting Chamber Alexei Kudrin said in the State Duma.

The biggest lag behind the planned bar showed the labor productivity index. Kudrin stressed that from 2011 to 2016, it increased by only 3.8%, while the decrees said that it was necessary to increase by one and a half times.

The head of the Accounting Chamber drew attention to the insufficient volume of investments. In 2017, their share in GDP reached 21.7% - with a planned level of 27%.

Target demographic indicators, according to Kudrin, also were not met. The total fertility rate was 1.621, which is less than the indicator fixed in the May decrees.

At the same time, some items have been successfully implemented. The head of the control department noted that the most impressive dynamics was demonstrated by the sphere of labor remuneration.

The salaries of junior medical personnel, pre-school, secondary and special education workers have been fulfilled by 74% in 2017 and by 90% in 2018, he told the deputies.

"At once I will say that the tasks to ensure the reduction of mortality from various diseases by 2018 and the reduction of infant mortality are generally met, but there is a very big differentiation among the subjects," concluded Kudrin.

The head of the Accounts Chamber also promised that his department will work to improve the level of execution of the new presidential program. According to him, this can be achieved through regular audit
In 2012, Vladimir Putin signed the May decrees, which contained the target parameters for the development of the economy for the next six years.

РИА Новости https://ria.ru/economy/20180613/1522664450.html