MEF - our solutions for a better future of Russia

Published: March 13th, 2018

One of the main tasks of the VI Moscow Economic Forum, which will be held on April 3-4, 2018 in the Russian Academy of Sciences, is to find ways to develop Russia. Anti-recessionary recipes that allow for economic growth will be offered by participants in the First Plenary Discussion "The Future of Russia: Challenges, Strategies and Mechanisms for Achieving Success." Co-chairman of the forum, President of the Industrial Union "Novoe Sodruzhestvo" Konstantin Babkin shared what steps should be taken first.
- Konstantin Anatolievich, is it possible to say that this year the economic crisis in Russia has worsened?

- In some areas, the situation is aggravated, but also positive trends can not be overlooked. Foreign trade policy becomes more reasonable and protectionist, aimed at protecting our producers, agrarian and industrial policies become more effective. The provisions about which we spoke at previous Moscow economic forums are being introduced: the recipes gradually find their cook. On the other hand, in the field of social, cultural, information policies and other areas, the situation is indeed aggravated: taxes are rising, lending rates remain prohibitive. There are small changes, but much remains to be done.
- What prevents Russia from achieving significant economic growth?

- The only condition that is absent and necessary for the beginning of rapid growth is the desire of the Government. All the objective prerequisites for development we have. If we want to develop, the program of action becomes obvious. If non-primary production, development of the real sector, industry, agriculture are at the head, then it is necessary to lower taxes for enterprises that invest in development, and, conversely, tax the process of exporting raw materials. The policy of the Central Bank should change. It is necessary not to keep the prohibitive lending rate, but to saturate the economy with money, making loans available. 7.5% is a space level for our economy, just a stratosphere. The credit rate should not exceed 1% per annum. All that is above - hinders development.
Is there a chance that the situation will change after the presidential election?

- So far, hope is not very big. During the message to the Federal Assembly, the President, of course, spoke about the need for technological development, policy change. But there are almost no signals of readiness to change the course of the Central Bank and the so-called economic block of the government. This is the role of the Moscow Economic Forum. We are already seeing how the solutions proposed within the framework of the MEF are being implemented. In order to approach the way out of the crisis, it is necessary to continue to draw the attention of the authorities to problem points and to achieve changes.