Alexey Madridfoto: Vladimir Fedorenko / RIA Novosti
The Russian economy is at a standstill, said the head of the accounts chamber Alexey Kudrin in the course of the lecture to the graduates of the Russian economic school (NES). Stream lectures were conducted on the YouTube channel of the NES.
According to Kudrin, if the official forecast of GDP fall by five per cent comes true, then the average rate of economic growth over the last ten years amount to just one percent. “It is very small, it is historically a little to over the decade we didn’t grow up” — said the economist.
He noted that Russia has tools for high growth, but the relevant decisions are not taken. “Unfortunately, we stand, we are now at a standstill”, — stated the head of the audit chamber.
In the same lectures Kudrin expressed regret in connection with the recently adopted decision to increase tax rates on individual income for people earning over five million rubles a year.
In the Analytical credit rating Agency (ACRA) earlier said that Russia passed the peak of the negative impact of the pandemic coronavirus to the markets. This indicator assesses how the country’s financial system close to a state of crisis.
Video, photo All from Russia.