June 30 in the capital was held the traditional Moscow economic forum (IEF) – first in the form of a webinar. “COVID is changing the world. Improvement of Russia – economic, psychological, social” – so organizers have designated the theme of the session. The discussion came, so to say, of sharp class.
the Speakers survived the ideological line, stated in his welcoming speech of the founder of MEF Konstantin Babkin: “there are going to people who oppose market fundamentalism. Those who are not willing to give their fate and the fate of their country in the absolute power of the market.” The face of the forum were such famous economists and politicians as Sergei Glazyev and Oksana Dmitrieva.
In General, the IEF is a platform clearly not for those experts who profess liberal, technocratic, Pro-Western approach to the economy. The forum has its longtime fans. Chatting up people from Nizhny Novgorod, Tikhvin, Yaroslavl, Rostov-on-don, Saint-Petersburg, Moscow, Apatite, small taiga town of Abaza, and even Kiev, nice and Pyongyang. Many gave vent to their emotions and complained about the horrors of self-isolation in closed schools, kindergartens and summer camps. “Coffee and delicious pies is not enough. Children and families – the victims,” wrote someone from the fans of the forum.
“Glazyev for Prime Minister!” – these remarks also missing. Some Anastasia greeted the Deputy of Legislative Assembly of St.-Petersburg Oksana Dmitrieva, who took part in the session: “Low bow to you from Nizhny Novgorod for the fact that you are against raising the retirement age!”
one of connected listeners demanded full nationalization, to return to the state of industrial production. In General, it was interesting.
Speaking among the speakers journalist and blogger Konstantin Semin reminded of the famous Lenin’s work “imperialism, the highest stage of capitalism”. This work, according to him, confirmed its relevance in light of the sharply aggravated class struggle in the West, pogroms, riots, unprecedented surge in unemployment in the United States, impoverishment of the masses. Inherent quality of capitalism – the inevitable crises and Russia need to remember this, I noticed Semin.
But perhaps the highlight of the forum was the performance of Sergei Glazyev, academician of RAS, acting member of the Board on main areas of integration and macroeconomics of the Eurasian economic Commission. He said “excessive volatility of the ruble”, that Russia is again, as in 2009 and 2014-2015 leader among all oil-producing countries on the scale of the devaluation of the national currency. Of course, blame the Central Bank: on the one hand, he sent the ruble to float freely, and on the other, brought to power on the domestic financial market, currency speculators, and 70% ��of them are non – residents.
“first of all, American hedge funds, which, despite the sanctions, continue to promote our market. Each jump of the ruble down is 25-30 billion dollars in profit for them. Instead create the conditions for maximizing investments, our Central Bank creates the conditions to maximize the profits of currency speculators” – outraged eyes.
the Academician emphasized that the leadership of the Central Bank shall be approved by the Duma, but by the Bank of Russia “why-that’s run by people who consider the recommendations of the IMF with the ultimate truth”. In General, certain circles made Russia a feeder for the international speculative capital that, among other things, turned offshorization economy, the massive leakage of capital from the country.
According to Glazyev, for the last 15 years, the Central Bank withdrew from the economy of more than 13 trillion roubles – at the expense of higher interest rates, as well as through deposits and bonds. The money regulator, according to the speaker, should return in the real sector so that enterprises could obtain loans.
the government’s anti-crisis measures eye evaluated positively, but added that authorities have not enough resources: they have only the NWF and the state Treasury. And within budget it is unrealistic to create new opportunities for growth, as it is all painted on social programs, and bursting at the seams because of falling revenues.
meanwhile, the expert community to the theses Glazyev attitude, to put it mildly, ambiguous. If you take his well-known statements about the role of currency speculators, then, according to the Director of the Institute of strategic analysis FBK Igor Nikolaev, we can agree with them percent on 10-15%, max.
in General, you can’t blame CB of all mortal sins, says the interlocutor of “MK”. Our regulator is not able to be responsible for the GDP growth, because the Russian economy (in contrast to the us, institutionally more developed) is only marginally dependent on the size of the key rate. Yes, the Central Bank repeatedly made mistakes in the past, but today they are by and large not. The ruble stable, and the situation of low consumer demand, the Central Bank can not influence, says Igor Nikolaev.
