Photo: Maksim Blinov / RIA Novosti
The Director of analytical Department of “Loco-invest”, the author of the Telegram-channel MMI Kirill Tremasov will head the monetary policy Department, Bank of Russia. This was reported on the website of the regulator.
The analyst, who has previously been in the civil service and headed the Department of macroeconomic forecasting of Ministry of economic development under Minister Alexei Ulyukayev, known for his controversy with his successor as the head of the Ministry Maxim Oreshkin. The economist criticized the Minister for abnormally optimistic macroeconomic data of the subordinate Agency Rosstat.
The reason for the controversy between Tremasova and Oreshkin was the publication by Rosstat in early 2019 data on the sudden rise construction in Russia to 2018 5.3 percent. In this series of monthly statistics on the construction industry were no signs of any construction boom. For 11 months of 2018, the growth was recorded only at 0.5 percent. Meanwhile, positive numbers are allowed Oreshkin declare a higher GDP growth than previously thought. Tremasov has criticized the figures, released by Rosstat, and called them “regular trash” and “full game”. He pointed to the acceleration of the decline in housing construction in Russia, the decline in production of goods for construction purposes and the failure in transportation of construction materials.
The Ministry of economic development responded to the criticism of economist and explained questionable figures a revision of the data from the Yamal-Nenets Autonomous district, where he completed a major project “Yamal LNG”. Rosstat agreed with this and explained that the companies-contractors of construction later provide summary data, and mistakes in reporting. Therefore, the information was not included in the monthly statistics. However, economists, including Tremasov, criticized this explanation. They have already resulted in a revised regional statistics for the Yamalo-Nenets Autonomous district. It turned out that even with the new figures, the volume of construction works in the whole country is still too high. “This is not Analytics, it’s a drawing,” concluded Tremasov.
The scandal surrounding the data construction in Russia was not the first to Rosstat. The office is regularly criticized by the public and the professional community. Among those who spoke negatively about the work of the Ministry, the Minister of Finance Anton Siluanov; the figures of the Ministry doubted the chamber. Rosstat has come to the attention of the media after the revision of GDP growth by 2018 in a positive direction, the refusal to publish monthly data on the real incomes of Russians who fell several years in a row, and revising the method of calculation of this key figure. The latest numbers have changed for the better. In addition, the Agency was catching on inaccurate data on industrial production. The head of the accounts chamber Alexey Kudrin suggested to select Rosstat from the Ministry of economic development, insisting that the statistical Agency must be independent of the Ministry, which is responsible for macroeconomic planning.
Video, photo All from Russia.