At his Address to the Federal Assembly from 4th December 2014 Vladimir Putin, the President of the Russian Federation, brought into focus the move away from import-hanging development model as one of the high-priority tasks. Domestic resource companies will help with it. The President has noted that «they have to focus on domestic manufacturer and create a demand on its products at executing of major oil, energy-related and transport projects».

The Address was announced at the period of the strongest devaluation of rouble against other currencies; scales of this devaluation are comparable only with the 1998 recession year. The current devaluation of rouble has already exceeded the figures of 2008. The exchange value of US Dollar has risen almost on 70% and EUR – on 50%. Dramatic situation against the backdrop of the falling oil is far from its end. Widespread volatility on the market is going on.

Such a rate could lead to uncontrolled price increase, resulting in winding of devaluation-inflation spiral with all that it implies for economy and its agents.

Deteriorating lending terms, unsatisfactory business environment and import notedly risen in price – all this will eventually affect the population and its real earnings.

Nolens volens Russia will have to start developing its manufacturing sector, involve scientific resources for developing new economy sectors. Otherwise, explicitly uncovered structural problems will not enable us to take rightful place in the world.

Information agency Credinform is glad to inform that in November we have joined the Business Information Industry Association – BIIA – as a full member.

BIIA was formed in 2005 in Hong Kong as a result of an initiative by several leading business information content services companies and three information content consultancy firms however in the meantime BIIA’s charter has become increasingly global. Today BIIA has over 50 members and is affiliated with large number of industry associations providing a significant platform for networking.

To promotion and protection of the Business Information Industry as well as interests of its members is also given priority in the BIIA activity.

Being a member of the BIIA Credinform hopes to intensify its global presence and promote its modern & flexible approach and experience as a credible business information provider in Russia.