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In Moscow, said that for the Russian economy more detrimental than sanctions

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In Moscow, said that for the Russian economy more detrimental than sanctions

Post by Admin on Sat May 30, 2015 9:53 pm

Russia is now adapting to the "very slow crisis" that began even before the introduction of Western sanctions.

This was stated by the director of the regional program of the Independent Institute for Social Policy in Moscow, Natalia Zubarevich in an interview with El Pais, the translation of which results InoPressa.

In her view, the current crisis in Russia was born in 2013 due to internal factors - the "institutional barriers" and samoischerpaniya development model based on oil revenues.

In 2014 it added outside influence: sanctions and the collapse in oil prices. "The effect of the fall in oil prices three times stronger than the effect of the sanctions", - said Zubarevich.

"The incentives that the government tries to spur development, not work, and the decline in investment continues," - says the expert.
According to her, in January-February 2015, investment fell by 10% compared to the same period in 2014. Hardest-hit Siberia, the Volga region, North-West and the Far East.

Zubarevich listed: the defense industry afloat, industry, working for export, are safe, as opposed to those that focus on the domestic market (construction and automotive). Kontrsanktsii have benefited the local food industry.

"Stimulation lasted six months, but already used all available resources. There is a lack of raw materials, technology and investment," - said Zubarevich.

According to her calculations, in 2015 Russian salaries will fall to 10%. "The unemployment rate is low (5.3%), and the growth of this index will slow down because of the demographic factor," - said Zubarevich.

At the same time, Chinese investment in Russia did not become a substitute for the West, the article says. "Russia can not on their own to raise the economy of the eastern regions, but a turn to the East, if happens, will be very limited", - summed up Zubarevich.

finance.obozrevatel.com: In Russian

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