Russian Economy General News: #10

Arrow wrote:The Russian economy is getting stronger.

PapaDragon

If the suppression of the gold price by western banks collapses and the price gets up to its normal level under this economic circumstances, the russian treasure chest will be pooring over.

There is a hard limit to how much you can suppress gold prices, everything they do is temporary at best

Nabiullina called the weak spot of the Russian economy

MOSCOW, March 26 - RIA News . The head of the Central Bank Elvira Nabiullina called the lack of long-term investment and borrowing a weak point of the Russian economy.
"it would be wrong if I did not mention the weak point that we still have: the lack of internal sources of long money," — said the head of the regulator at the enlarged meeting of the Board of the Ministry of Finance.

At the same time, according to Nabiullina, the Russian authorities managed to reduce the dependence of the ruble on energy prices, but now the exchange rate fluctuations are influenced by the behavior of foreign investors, which can carry additional difficulties. As the head of the Central Bank noted, their behavior often depends on geopolitical factors.
Nabiullina stressed that this problem can be solved by the formation of its own investor base and the presence of powerful institutional investors, which will make the country's financial markets more stable.
According to her, this can be facilitated by the concept of individual pension capital, through which it is possible to increase the level of pensions and give the country sources of long-term investment.

According to the idea of the Ministry of Finance and the Central Bank, which jointly developed the concept, the accumulation of Russians will become their property. They will be stored in non-state pension funds, which will be able to replenish both employers and citizens themselves.
It is assumed that high-paid employees will enter the system automatically with the possibility of refusal, and low-income citizens will have to write an application. If desired, the Russians will be able to deduct six percent of the salary with the ability to change the rate of contributions.Finance Minister Anton Siluanov announced the launch of the mechanism And the PC next year.

The cost of creating a sustainable Runet will be more than 30 billion rubles

MOSCOW, March 26 - RIA News. The cost of creating a sustainable runet until 2022 will amount to more than 30.8 billion rubles, follows from the data on financing the federal project "Information Security" of the national program "Digital Economy".
According to the section with a list of measures and the volume of dopfinancing in the framework of the Information Security project, 20.8 billion rubles will be spent on "the acquisition of software and hardware tools that ensure the security of the Russian segment of the Internet." A little more than 4.5 billion rubles will be spent on collecting information about Internet addresses, autonomous system numbers and connections between them, traffic routes on the Internet, as well as managing specialized software.
Another 5.5 billion rubles is planned to be spent on the development of special equipment that will collect and store information, monitor and manage public networks, monitor traffic routes on the Internet and so on. Thus, the total amount of funds that will be directed at "ensuring holistic, sustainable and secure functioning of the Russian segment of the Internet" will be about 30.831 billion rubles.

GunshipDemocracy wrote:

PapaDragon

If the suppression of the gold price by western banks collapses and the price gets up to its normal level under this economic circumstances, the russian treasure chest will be pooring over.

There is a hard limit to how much you can suppress gold prices, everything they do is temporary at best

true but ultimate reserve is food and water. Bunch o hungry zombies after economical collapse need no gold but food.

magnumcromagnon wrote:
Except there's a wide-scale technological and industrial application for gold. You'll need gold for the circuit boards for automated defenses to mow down the countless zombie hordes!  

https://science.howstuffworks.com/gold6.htm

kvs wrote:The west manipulates gold prices via the fraud known as paper gold.   People do not actually get to buy real gold but instead buy a
type of promissory note that supposedly can be redeemed for physical gold.   This is BS.  The scam is like fractional reserve banking
since each ounce of gold is oversubscribed via these promissory notes.    Gold is way too scarce to have the sort of "commodity"
price dynamics.  It is these promissory notes that are the actual commodity that crates the illusion of vast supply.

Russia's international reserves for the week rose to $ 487.1 billion

A week earlier, this figure was lower by $ 4.6 billion, notes the Central Bank

MOSCOW, March 28. / TASS /. As of March 22, 2019, Russia's international reserves amounted to $ 487.1 billion, which is $ 4.6 billion higher than a week earlier, the Bank of Russia said.

As noted in the message of the regulator, reserves increased by 1% "due to a positive revaluation, the purchase of foreign currency in the framework of the fiscal rule and the monetization of gold."

miketheterrible wrote:Once they reach $500B they should start putting much more in national welfare fund to guarantee much money for investment/development in the country.

Putin instructed to work out the transportation of coal on the Northern Sea Route on Russian ships

MOSCOW, March 28 - RIA News. Russian President Vladimir Putin instructed the government to work out the issue of using vessels flying the Russian flag and built at domestic shipyards to transport coal along the Northern Sea Route (NSR), according to the Kremlin press service.
The instruction was given following a meeting with members of the government held on February 27, 2019.

“To work out the issue of using ships that fly under the national flag of the Russian Federation and built at domestic shipyards for the transportation of coal along the Northern Sea Route. The report is before June 1, 2019,” the message reads.
In addition, Putin instructed the government before July 1 to ensure the submission to the State Duma of a draft federal law providing for special measures of state support of investment activities in the Arctic zone of the Russian Federation, "paying special attention to encouraging geological exploration and building infrastructure facilities through private investment."

GunshipDemocracy wrote:

Russia's international reserves for the week rose to $ 487.1 billion

A week earlier, this figure was lower by $ 4.6 billion, notes the Central Bank

MOSCOW, March 28. / TASS /. As of March 22, 2019, Russia's international reserves amounted to $ 487.1 billion, which is $ 4.6 billion higher than a week earlier, the Bank of Russia said.

As noted in the message of the regulator, reserves increased by 1% "due to a positive revaluation, the purchase of foreign currency in the framework of the fiscal rule and the monetization of gold."

https://tass.ru/ekonomika/6270191

GunshipDemocracy wrote:

Russia's international reserves for the week rose to $ 487.1 billion

A week earlier, this figure was lower by $ 4.6 billion, notes the Central Bank

MOSCOW, March 28. / TASS /. As of March 22, 2019, Russia's international reserves amounted to $ 487.1 billion, which is $ 4.6 billion higher than a week earlier, the Bank of Russia said.

As noted in the message of the regulator, reserves increased by 1% "due to a positive revaluation, the purchase of foreign currency in the framework of the fiscal rule and the monetization of gold."

https://tass.ru/ekonomika/6270191

Austin wrote:
In the next crisis Gold will be the King Maker and perhaps the King himself , Paper Currency will loose a lot of its value

kvs wrote:  Kommersant is a filthy 5th column tabloid that
spreads all sorts of misinformation to try to enable US regime change in Russia.

calripson wrote:Who owns Kommersant?

Leading Russian IT companies have agreed to create Digital Valley in Krasnoyarsk

https://tass.ru/ekonomika/6274629
KRASNOYARSK, March 29. / TASS /. The Yenisei Siberia Development Corporation and 30 leading Moscow and Krasnoyarsk IT companies signed an agreement on the creation of the Digital Valley in Krasnoyarsk. The ceremony was held within the framework of the Krasnoyarsk Economic Forum and instead of traditional paper signatures, participants left handprints on an electronic screen, TASS reports.

The goal of the project is to concentrate in one place and create favorable conditions for the work of the best domestic IT companies, to stimulate the development of Russian information technologies. To this end, a high-tech technopark will be built in Krasnoyarsk, on which companies can place their offices. The total number of jobs in the "Digital Valley" in five years will be 5 thousand. By the end of this year, up to one thousand jobs can be created, which will bring the budget 50 million rubles of taxes.

The Yenisei Siberia Integrated Investment Project, which consists of industrial projects in the field of mining and processing of metals and minerals, is replenished with another one related to high-tech solutions, using the greatest strengths of our human potential. The project is very young, it is literally a couple of months. , - Sergey Ladyzhenko, the general director of the Yeniseisk Siberia Development Corporation, said at the ceremony.

The Digital Valley will consist of a technopark, residential areas Novoostrovsky and Akademgorodok, the Krasnoyarsk Scientific Center, the Institute of Space and Information Technologies of the Siberian Federal University and the center of eSports. Its residents will receive low cost of rent payments, the presence of active investors, the "green corridor" for the implementation of their projects, as well as special conditions for employees - comfortable residential infrastructure, convenient transport logistics between sites.

kvs wrote:

Austin wrote:Kommersant: Putin opposed the construction of the Moscow-Kazan High-speed Railway

https://ria.ru/20190329/1552210183.html

So if Putler the Tyrant was opposed how come it is being built?   Kommersant is a filthy 5th column tabloid that
spreads all sorts of misinformation to try to enable US regime change in Russia.   Kommersant demonstrates clearly
what happens in real MSM companies.  Berezovsky established its culture and agenda and it has been continuing
in this mode long after he departed.   People who think that privately owned MSM companies are free are ignorant
at best, idiots at worst.  You can bet your last penny that any MSM company is a total tool of its owners.  That
is what companies are by definition.  There are no laws or regulations that make journalists and their jobs
independent from their bosses.   The top boss chooses all the lower bosses and ultimately the journalists.  But
people still think that such MSM companies will give them pure truth on a platter.  

Peskov refuted Putin’s disapproval of the Supreme Council of Ministers’s project

MOSCOW, March 29 - RIA News. A spokesman for the Russian president, Dmitry Peskov, denied the report that Vladimir Putin had rejected the construction of the Moscow-Kazan high-speed highway; final decisions have not yet been made.
Earlier, the publication of RBC reported that the project for the construction of a high-speed highway Moscow-Kazan could not secure the approval of Putin.
"The information that appeared didn’t quite correspond to reality, or rather doesn’t correspond. “It’s not true, the work continues,” Peskov told reporters.
He noted that the construction of the highway is a complex process, multifaceted, associated with economic feasibility, with a cumulative effect for the regional economy.

magnumcromagnon wrote:
Yeah when I saw the title and that it was from Kommersant, the first thing that came to my mind was "BULLSHIT!!!"

Value-added tax to rise from 18% to 20% in Russia

George1 wrote:

Value-added tax to rise from 18% to 20% in Russia

Experts believe that the VAT rate hike to 20% will hinder Russia’s economic growth in 2019

MOSCOW, December 29. /TASS/. The value-added tax (VAT) rate in Russia will amount to 20% starting from January 1, 2019. Russian President Vladimir Putin signed a law in the autumn of 2018, stipulating an increase of the VAT rate from 18% to 20%, as well as new tariffs for social contributions.

According to the Russian Finance Ministry’s calculations, the move will boost budget revenues by 620 bln rubles ($8.9 bln) per annum. Legal entities pay the value-added tax in Russia at all stages of production and sale of goods or services. The amount of paid tax is set in the final price of products or services, meaning that it is actually paid by end consumers. The previous VAT rate of 18% was in effect from January 1, 2004.

Russian Prime Minister Dmitry Medvedev believes that the decision on VAT hike to 20% is the least painful solution for people and the economy compared with other options to raise budget revenues considered by the government.

The cabinet has pledged to allocate the funds from the VAT hike for social needs, particularly the healthcare sector. It also decided to keep all VAT benefits for main socially important products and services. The beneficial VAT rate of 10% remains for essential foods (bread, milk, etc.), goods for children and medical products.

Experts believe that the VAT rate hike to 20% will hinder Russia’s economic growth in 2019. According to First Deputy Prime Minister, Finance Minister Anton Siluanov, the move can speed up inflation from expected 3% to 4-4.5%.


More:
http://tass.com/economy/1038487

Hole wrote:Why don´t all this "experts" start a business? They know so much, they should be billionaires in just a few years.