The second day of the Gaidar forum: repetition of default will not be

The second day of the Gaidar forum: repetition of default will not be


The possibility of crisis in the Russian economy due to falling oil prices, investment in new industrial point of growth, the prospects for world economic cooperation is the main theme of the second annual Gaidar economic forum.

One of the first statements that was made by the speaker of the state Duma Sergey Naryshkin, opening the meeting of the second day of the Gaidar forum, dealt with yesterday’s statements of the Ministry of Finance of the Russian Federation Siluanov about the possibility of a repetition of the 1998 default.

“Yesterday, we heard in the hall of the assumption that, if we talk about the current situation that it is very similar and we are close to the situation, as of 1998. I disagree with that,” said Naryshkin.

He was supported by Chairman of the state Duma Committee on budget Andrey Makarov. He called for an urgent reduction in the tax burden on businesses.

“We must reduce taxes, we must reduce the tax burden. Today the tax burden is outrageous,” said Makarov. He noted that in 2003, Russia had the “best tax system in the world.”

“Today, the tax system does not solve the tasks she must solve, namely to give an opportunity to the country, I’m not talking about even individual enterprises to compete in the labour market, in capital markets”, — said Makarov. Thus he acted as a critic of the ex-Minister of Finance Kudrin, who yesterday during the Gaidar forum said that the increased tax burden is inevitable in the conditions of budget deficit and the fall in oil prices.

By the end of 2015, the chamber found violations in the implementation of the budget of 440 billion rubles, said the head of the accounts chamber Tatyana Golikova and, according to her, the greatest number of violations recorded in the execution of investment programs, management of state property and government procurement.

This speaker also flatly rejected any comparison to the current economic situation in Russia with the one that was default in 1998, and stated that there is no need to adjust the budget.

“In January there is no need to make decisions about the urgent need for fiscal adjustment, despite the fact that falling oil prices, compared with that budgeted, it looks dramatic enough for us,” he said.

The main problem is what steps should be taken by the government and in what terms to exercise or adjust the approved law, said Golikova.

“According to operational data, the Federal budget deficit in 2015 amounted to 2 trillion rubles, expenses – of 15.6 trillion rubles, revenues of 13.6 billion rubles”, — said Golikova.

It recalled that, according to preliminary data, the budget deficit of the Russian Federation by the end of 2015 amounted to 2.6% of GDP. Huge expenses at the end of 2015 were produced regions, said Golikova.

The deficit of the consolidated budget of Russian regions by the end of 2015 amounted to 191 billion rubles, although during the whole of last year, this budget was executed with a surplus, said the head of the accounting chamber.

According to her, from 85 regions of the country, 76 finished the year with a deficit. The surplus showed only 9 regions that are traditional donors of the budget system of Russia.

The Chairman of the state Duma on the constitutional legislation and state construction Vladimir Pligin in his speech yesterday continued the abstracts of many speakers about the need to create a “trust institution”. According to him, business doesn’t believe in government-approved rules of the game, so falls the Amnesty of capital.

The material is updated.