Economy of the country has fallen into stagnation

The official statistics has not yet published final results on the GDP (gross domestic product) dynamics of the RF in the preceding year, different sources inform about a reassessment downwards.

So the World Bank has decreased the September forecast for economic growth rate in Russia for 2013 from 1,8% to 1,3%. Pessimistic scenario of events' development is substantiated by that the investment activity is negative and the growth in the volume of domestic demand has fallen short of the expected value.

In the Government of the RF the situation is summed up in a similar way: at year-end 2013 the Minister of Economic Development Alexey Ulyukaev is expected the GDP growth within 1,4%-1,5%.

It must be stated, that high petroleum prices, which determined the progressive development of the country before the crisis years, have no any effect today, it is necessary to search for new points of acceleration, to expand investment possibilities of the country, otherwise the permanent stagnation will be unavoidable.

According to the MEDT of Russia, the key objectives facing the economic bloc in the near term – these are: demonopolization of industry and services sector, simplification of the government regulation of business, flexible job market, review of the practice of antimonopoly regulation, promotion of non-resource export.

By that according to words of Mr. Ulyukaev, phenomena observed at present are not related to a crisis or stagnation, but this is the transfer from one economic development model to another, which will be characterized by lower growth rates and the overcoming of existing disbalances. The World economy will present the growth rates more than by 3,5%, and the Russian economy at its best – by 2,5%.

We cannot but hope, that in for all evident yet situation of no possibility of further development based on the export of carbohydrates and filling up the Reserve Fund with precautionary savings, the Government will proceed with pending reforms, and the statements of the Minister will be translated step by step into specific actions.