Russia’s former finance minister calls last ten years lost for country’s economy
02.06.2017,
14:21
Alexei Kudrin, former Russian finance minister, speaking Friday in St. Petersburg at a business breakfast of Russia’s Sberbank held as part of the International Economic Forum, said that the last decade is lost for the country’s economy because of privatization waiver.
YEREVAN, June 2. /ARKA/. Alexei Kudrin, former Russian finance minister, speaking Friday in St. Petersburg at a business breakfast of Russia’s Sberbank held as part of the International Economic Forum, said that the last decade is lost for the country’s economy because of privatization waiver.
He is quoted by the world media as saying that from 2008 to 2017 an average growth stood at 1% and that this is a lost decade.
“The cause is failure of reforms,” he said. “One of such reforms is denationalization, i.e. privatization.”
Kudrin also said that the state economy “kills the spirit of entrepreneurship” and remembered that in 2013 “a bold privatization” was projected, but it was cancelled.
The 2013 privatization program targeted also large companies, including Rosneft, TusHydro, Sovcomflot, Sberbank, VTB etc.
Earlier, Kudrin proposed to cut the public sector and said that the entire oil sector should be privatized in the next seven or eight years. --0----
He is quoted by the world media as saying that from 2008 to 2017 an average growth stood at 1% and that this is a lost decade.
“The cause is failure of reforms,” he said. “One of such reforms is denationalization, i.e. privatization.”
Kudrin also said that the state economy “kills the spirit of entrepreneurship” and remembered that in 2013 “a bold privatization” was projected, but it was cancelled.
The 2013 privatization program targeted also large companies, including Rosneft, TusHydro, Sovcomflot, Sberbank, VTB etc.
Earlier, Kudrin proposed to cut the public sector and said that the entire oil sector should be privatized in the next seven or eight years. --0----
