Article by Gabriel Vildau and Ma Nan. Translation by Nick Trickett. Investments in President Xi Jinping’s high-profile project One Belt, One Road declined in 2016, evidenced by several indicators. This calls into doubt commercial enterprises’ preparedness to sink money into the strategy, which pursues not only economic but geopolitical goals. The leaders of 28 states will gather this weekend in Beijing at a conference dedicated to … Continue reading In Translation: China has decreased investments in the new “Silk Road”
Article by Margarita Papchenkova and Elizaveta Bazanova. Translation by Nick Trickett. On April 20th, a long-awaited reform for oil sector taxation was approved during a meeting with Russia’s Deputy Prime Minister, Arkady Dvorkovich. According to two federal officials, the transition from the severance tax (MET) to a tax on added income (NDD) will take place from next year. Dvorkovich’s representative refused to comment on the … Continue reading In Translation: Officials Drill Ahead on Oil Tax Reform
Tatfondbank’s demise shows even a state-backed institution can fail. Article by Svetlana Petrova for Vedomosti. Kazan’s Tatfondbank had everything for success: a long history (the bank was founded in 1994), a good reputation, ranked second for market share in Tatarstan (and forty-second overall in Russia), a major shareholder in the state, respectable international ratings, and International Financial Reporting Standards (IFRS) status with an international audit. This … Continue reading In Translation: Death of a Bank
Article by Olga Kuvshinova. Guest translation by Keary Iarussi. In the 10 years from 2006 to 2015, the number of “donor regions” in Russia dropped from 25 to 14; fewer even than the 19 that existed in 2001. Experts from the Leontief Center presented a report at a conference at the Higher School of Economics in April which identified the policy of centralized budget revenues … Continue reading IN TRANSLATION: Number of Russian “donor regions” nearly halved over 10 years
Article by Georgiy Neyaskin. Translation by Nick Trickett. At the end of February, the Ministry of Finance unveiled parameters for the issuance of “people’s bonds” – debt instruments aimed at mobilizing household money for state needs in return for relatively high and risk-free returns. MinFin expects to get people’s money “out from under the pillow” (in all fairness, it should be noted that Russians prefer mattresses) declared … Continue reading IN TRANSLATION: Are MinFin’s “People’s Bonds” Worth Buying?
Interview conducted by Alexander Turshin. Translation by Nick Trickett. Chief researcher at the Institute of Systems Analysis of Account Payments, Vladimir Osipov, on why we shouldn’t expect economic growth to follow. It will soon be almost three years Russia’s lived under sanctions. But the expected release from them has become a constant theme of the discussion on TV and online. A consensus has even … Continue reading IN TRANSLATION: “The Removal of Sanctions Won’t Help Us” – An Interview with Vladimir Osipov
Opinion piece for Ogonyok. Guest translation by Connor Odekirk. Our piece, “Don’t Understand Russia Through Labor” in which Russia’s low labor productivity was discussed, resonated widely among readers. Serious academics responded: Grigory Khanin, Professor at the Siberian Institute of Management and Public Policy and State Committee under the President of the Russian Federation, and Dmitry Fomin, Associate Professor of Economics and Management at Novosibirsk State University. … Continue reading IN TRANSLATION: “The Country’s Leaders are Working with Erroneous Economic Data”