Klepach: the resumption of real growth of incomes of Russians could begin in 2017


ST. PETERSBURG, October 19. /Corr. Svetlana Afonina, Roman Podervyansky/. The resumption of real income growth in Russia is likely to begin in 2017. This forecast was made on Monday by the Deputy Chairman (chief economist) – member of the management Board of Vnesheconombank Andrei Klepach at the XIV all-Russian forum “Strategic planning in regions and cities of Russia: space of choice and choice of space.”

“I think, in 2017, but small,” – said Klepach, answering the question. “There are official projections, they are refined, he added. – I think that within 1.5-2%”.

One third of the budget remains with the Ministry of Finance in case of emergency

At least one third of the state budget in recent years are not allocated to departments and remains at the disposal of the Ministry of Finance, including response to the variability of the economic situation. This was reported by Andrey Klepach, previously responsible for macroeconomic forecasting in the MAYOR of the Russian Federation.

According to him, this approach has disadvantages from the point of view of strategic planning, as it complicates the compilation of economic forecasts.

“We in the draft budget is now included pension increases of four percent, and then how it goes – I mean the second indexing. In the forecast or we put four percent, and then we have a much lower dynamics of real incomes of the population demand, and not only for 2016, but for 2017. Or we assume that we will be able to index, and then we put these parameters in indexing, even if decisions are not accepted, – said Klepach. – We have a very many solutions are suspended in nature. In recent years one third of the budget, even more, are not allocated to departments: it is what it is at the Finance Ministry, including a response to uncertainty and variability of the economic situation. But in the forecast it can’t be”, – said Klepach.

“We some decisions are evaluated, looking at the consequences or, on the contrary, we presume that this will not happen. And then, too, there will be some consequences for incomes, which when hard form in real terms, practically, if we take the public sector will not see growth until 2018. And that’s very different raises the question of the implementation of decrees of the President, and all macroeconomic dynamics”, – he noted.