Analysts noted the importance of Putin’s words about the business support

Analysts noted the importance of Putin’s words about the business support

Economists have different accents in the speech of the head of state, noting, however, that in his speech he asked all the basic landmarks of development of the economy.

MOSCOW, 3 Dec. The President of Russia Vladimir Putin, speaking on Thursday with the message to the Federal Assembly, promised the business that the authorities will take a number of steps that will make life easier for domestic entrepreneurs.

Once again he expressed the need to reduce administrative pressure on business, gave a signal to security forces that they continued to harass honest businessmen and oriented manufacturers not only to displace importers from the domestic market, but also to conquer the world.

While economists are different accents in the speech of the head of state, noting, however, that in his speech he asked all the basic landmarks of development of the economy.

For some of them the main topic was the words of the President about the need to change the structure of the economy and its export reorientation at the expense of non-oil goods, for others, the need to reduce state intervention in the economy.

Export, business and Asia

According to the chief economist of the Eurasian development Bank Yaroslav Lisovolik, in his message, the President has presented a very important in the economic sphere the issues.

“In particular, I would say that a very important theme of the speech was the need to achieve higher growth and transformation of the economic structure through the development of the export sector and, above all, non-oil exports of goods as a means of diversifying the economy as its more dynamic development. And I think that such an emphasis is absolutely correct because it takes into account, including the experience of many countries that have achieved higher rates of economic growth through exports, export-oriented development,” he said.

Another important emphasis that the economist noted in a message is the reduction of administrative press, of state intervention in the economy as a means of achieving greater dynamism in the economic sphere.

“And probably this is quite an important tool for the development of small and medium business. This is also a factor on one side of the transformation and diversification of the economic structure, on the other hand is a factor for achieving higher rates of economic growth”, — said the source.

Finally, the third important item on Putin’s speech, according to Lisovolik, is Russia’s intention to integrate into the world economy by creating economic alliances with Asian countries. According to Lisovolik, these alliances provide significant potential for development of the EAEC. In this context, he recalled a recent statement about plans to create a free trade zone between the EEU and Singapore.

“The President noted that it is not only about trade liberalization, but also about development in other areas, including investment cooperation. Such alliances, I think, will partially attain this goal by export-oriented development, which the President said would open up more markets for our exporters,” he said.

“It must’ve been for me the basic parameters of speech. And they are all I think very positive in their orientation, because they say all the same about to reduce administrative press inside the country on the one hand, and with another — to follow courses of integration, greater openness with our foreign partners”, — said Lissovolik.

Internal resources

“Were defined all the key aspects that are a priority for the state at the moment”, — said managing partner of Ernst & young on Russia Alexander Ivlev. In his opinion, the main themes were support and development of entrepreneurship in Russia, in particular, “very specific proposals on elimination of redundant and duplicating functions of controlling bodies”.

“In addition, special attention was paid to the systematic approach to attract investment in strategically important regions such as the far East,” he added.

The Bank noted that the assessment and the wording of Putin’s message were relatively cautious. “That is quite logical in conditions of high uncertainty of the global macroeconomic background. The focus is placed on the need for search and use of domestic resources in economic development”, — the analyst of Bank Denis Davydov.

“In terms of individual statements, we would like to draw attention to the increased interest in the local debt market. The implementation of the aforementioned suggestions will allow to increase domestic investment potential,” he added.

“In part, to identify priority areas for economic development, to determine the vector of development, I think that these statements were very important, because to some extent lacked in many respects this orientation. Maybe even the ideology to economic policy for economic transformation”, — said Lissovolik.

Key statements of Vladimir Putin — online-report >>