In Translation: Government, facing a demographic crunch, debates birth rate stimulus

Article by Margarita Papchenkova, Tatyana Lomskaya. Translation by Nick Trickett. The Government’s social block has proposed a package of measures to stimulate Russia’s declining birth rate, two Federal officials have told Vedomosti. Vice Prime Minister and Social Block leader Olga Golodets’ press secretary confirmed the move, noting the necessity of continuing current measures and the development of new ones. After a baby boom in the … Continue reading In Translation: Government, facing a demographic crunch, debates birth rate stimulus

In Translation: Incomes to Bounce Back by 2020, Pensions Won’t At All

Article by Olga Kuvshinova and Aleksandra Prokopenko. Translation by Nick Trickett.  In the target scenario of its macroeconomic forecast through 2035, which assumes a growth rate higher than the world average, the Ministry of Economic Development sees near zero real growth for pensions over the next 20 years (“Vedomosti” has seen the document). To raise the economy’s growth rate in the target scenario, the plan … Continue reading In Translation: Incomes to Bounce Back by 2020, Pensions Won’t At All

In Translation: Problem Loans Make Up 40% of VEB’s Portfolio

Article by Margarita Papchenkova. Translation by Nick Trickett. Vedomosti has examined VEB’s credit portfolio as of the 1st of May. An employee at the state bank revealed a list of loans with names of debtors, the amount of debt, the amount of reserves for the debt, and how bad the debt is. Another confirmed its authenticity. VEB’s press secretary declined to comment on the document, … Continue reading In Translation: Problem Loans Make Up 40% of VEB’s Portfolio

In Translation: China has decreased investments in the new “Silk Road”

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”

In Translation: Officials Drill Ahead on Oil Tax Reform

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

In Translation: Death of a Bank

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

IN TRANSLATION: Number of Russian “donor regions” nearly halved over 10 years

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