Dmitry Medvedev doesn’t rule out introducing progressive personal income tax, but not soon

Cash, Calculator, Pen

(Interfax – January 28, 2013) Russian Prime Minister Dmitry Medvedev does not rule out that the issue of introducing a progressive personal income tax might be raised at some point, but not in the near future. “At some point, of course, the issue of progress taxation might be put on the agenda, it seems to me that this is not […]

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TRANSCRIPT: Dmitry Medvedev’s interview with the German newspaper Handelsblatt

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 28, 2013) Correspondent (via interpreter): Prime Minister, it is a great honour for us that you have agreed to give an interview to our newspaper, Handelsblatt. We are an economic publication and we cannot wait to hear what you will tell us. Dmitry Medvedev: I am glad to meet you and I am glad of the opportunity […]

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TRANSCRIPT: Dmitry Medvedev’s interview in Davos with the Vesti v Subbotu (News on Saturday) programme by the Rossiya television network

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 26, 2013) Sergei Brilyov: Mr Medvedev, I would like to come back to the Grand Hall meeting, where you took a seat in the audience. Why didn’t you go up on the stage straight away? Dmitry Medvedev: I wanted to see my colleagues present their scenarios. I enjoyed sitting in the audience. It’s better than being on […]

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TRANSCRIPT: Neue Zurcher Zeitung interviews Prime Minister Dmitry Medvedev

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 25, 2013) Correspondent: As the Prime Minister, you are known for supporting the need to make tough and honest assessments of the situation both domestically and internationally. The scenarios developed by the World Economic Forum (WEF) show that the time for simple reforms has passed already in Russia… The reform process needs a boost to overcome corruption […]

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Medvedev: U.S. Magnitsky Act, Russia’s response do not benefit relations between countries

File Photo of U.S. Capitol Dome

(Interfax – January 28, 2013) Russian Prime Minister Dmitry Medvedev has described as an intentional legal mistake the adoption of the Magnitsky Act by the U.S. Congress. “I think that the whole situation is bad. It is not beneficial for either Russian-American relations or international law and order,” he said in an interview with CNN, the transcript of which is […]

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[TRANSCRIPT] Dmitry Medvedev’s interview with NTV

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 24, 2013) Question: Mr Medvedev, you were here in 2007, one year before you were elected President. The key point of your policy speech then (which we all remember) was “Freedom is better than unfreedom.” What phrase would you use now, six years on? What would you say to the West with the same succinctness or perhaps […]

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[TRANSCRIPT: Medvedev, Dvorkovich:] A working breakfast with foreign investors in Davos

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 24, 2013) Dmitry Medvedev: Good morning. I hope it is truly a good morning for you. Arkady Dvorkovich: It is. We have just managed to discuss a number of issues regarding global and Russian economic growth. And we have even held a vote on possible global and Russian economic growth rates. Dmitry Medvedev: And what did the […]

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TRANSCRIPT: A panel discussion on the G20 in Davos – Dmitry Medvedev’s speech at the discussion

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 24, 2013) Ladies and gentlemen, I’d like to tell you about our view of the G20 and our plans. Last December Russia took up the baton of the G20 chairmanship, one of the most influential informal associations in the world. This is common knowledge, but I will repeat that the G20 countries account for about 90% of […]

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TRANSCRIPT: Plenary session of the World Economic Forum in Davos – Speech by Dmitry Medvedev

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 23, 2013) Mr Schwab (Klaus Schwab, founder and executive chairman of the World Economic Forum in Davos), ladies and gentlemen. Apparently, my task is to refute all three of the scenarios in about 20 minutes and to explain what we are going to do. I will certainly do that, but first of all I would like to […]

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TRANSCRIPT: [Medvedev] Interview with Bloomberg TV

File Photo of "World Economic Forum" Display at Davos from Past Session

(Government.ru – January 23, 2013) Question (as translated): Good morning! We have Russian Prime Minister Dmitry Medvedev here today. Forty-five minutes from now, he will deliver a keynote speech here in Davos, at the World Economic Forum. Mr Prime Minister, thank you for coming. By the way, you are the first leader who agreed to be interviewed without wearing a […]

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Medvedev outlines positive scenario at Davos; Russian Prime Minister Dmitry Medvedev addresses the problem of Russia’s integration into the global economy at the 2013 World Economic Forum in Davos.

File Photo of "World Economic Forum" Display at Davos from Past Session

(Russia Beyond the Headlines/Interfax – www.rbth.ru – Alexander Panov, based on Interfax – January 23, 2013) Russian Prime Minister Dmitry Medvedev made an appearance at the 2013 World Economic Forum in Davos to discuss Russia’s economic future in a global perspective. In his speech to the Forum audience Medvedev discusses the need for an increase in competitive power for Russian […]

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Professional, independent board directors for govt companies have positive impact – Medvedev

Empty Boardroom

MOSCOW. Jan 23 (Interfax) – Introducing professional and independent directors to the boards of government companies has a positive impact and the authorities continue to work toward this, Russian Prime Minister Dmitry Medvedev said at a plenary session of the World Economic Forum in Davos called “Development Scenarios for Russia.” “The boards of public companies mostly have professional and independent […]

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Davos Calls for Efficient State

File Photo of Past World Economic Forum

(Moscow Times – themoscowtimes.com – Irina Filatova – January 24, 2013) Improving the work of the government and fighting corruption should be key priorities on Russia’s reform agenda for the next few years, participants in the World Economic Forum said Wednesday. Almost 78 percent of them chose ensuring “good governance” as the No. 1 step for the country’s progress during […]

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Study: Popular Discontent Might Affect Economic Development

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Anatoly Medetsky – January 23, 2013) How popular discontent will play out is one of the key uncertainties that the World Economic Forum identified for Russia’s long-term economic development in a report released Tuesday. Attendees of the annual forum in Davos, Switzerland, which opened Tuesday, are set to question Prime Minister Dmitry Medvedev about this […]

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Main risks to Russian economy are internal, not external – Medvedev

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DAVOS. Jan 23 (Interfax) – Russian Prime Minister Dmitry Medvedev believes Russia’s integration into the world economy, which remains unstable, requires an increase in the competitive power of Russian companies, but the main risks faced by Russia are internal, not external. “The global economy remains unstable. The attempts to come out of the crisis without resolving the accumulated financial and […]

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Audit Chamber Warns G20 Against Financial Instability

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – January 23, 2013) The G20 countries’ failure to fulfill their obligations to achieve sustained economic growth and prevent financial instability may undermine confidence in the exclusive club of the 20 most developed industrial nations, the Audit Chamber said in a study, Interfax reported Wednesday. Russia, which holds the presidency of the group, will host a […]

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The Doors I Closed When I Came to the US

United States Map

(Voice of America – Anna Malinovskaya – January 22, 2013) Perhaps all international students discover at some point that going to college in the States costs more than they pay in money terms. I have experienced personal costs that will impact my life long after my education here is done. Some I was prepared to encounter, and others caught me […]

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Medvedev to Address Various Scenarios at Davos

Medvedev at Past World Economic Forum Meeting in Davos

(Moscow Times – themoscowtimes.com – Irina Filatova and Anatoly Medetsky – January 23, 2013) Russian officials visiting the World Economic Forum 13 years ago were puzzled by U.S. journalist Trudy Rubin’s famous question about the newly elected Russian president: “Who is Mr. Putin?” This year, members of the Russian delegation, which includes state officials, economic experts and business leaders, are […]

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Russian retirement: mixed outlook for 2013

File Photo of Two Elders Walking Outdoors

(Moscow News – themoscownews.com – Anastasia Matveyeva, Moskovskiye Novosti – January 21, 2013) New calculations for pensions and a funded component, a possible luxury tax and a special structure that will come to manage Russian currency reserves are the main economic events that are expected in the coming year. How will these reverberate on us, and what will they will […]

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Migrant crime rates not growing in Russia – Federal Migration Service

Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

MOSCOW. Jan 21 (Interfax) – The majority of foreign migrants arriving in Russia come from Uzbekistan, Tajikistan and Ukraine. There is no growth of migrant crime rates, Federal Migration Service head Konstantin Romodanovsky told Interfax. “Only 3.4% of solved crimes are committed by migrants. Most frequently migrants are charged with document forgery,” he said. Migrant arrivals in Russia have grown […]

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Russia Needs Immigrants, FMS Chief Says

Migrant Workers file photo

(Moscow Times – themoscowtimes.com – Nikolaus von Twickel – January 22, 2013) Russia urgently needs to attract immigrants over the coming years to avoid labor shortages, the country’s top migration officer said Monday. “Even if we manage to stabilize or increase the population by raising the birth rate, the only source for increasing the labor force for the coming 15 […]

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Medvedev Courts Davos Skeptics With Better-Than-China Pitch

Medvedev at Past World Economic Forum Meeting in Davos

(Bloomberg – bloomberg.com – Henry Meyer, Scott Rose and Ryan Chilcote – January 22, 2013) Russia has a $10 billion sales pitch for investors at this year’s World Economic Forum: give us your money and we’ll worry about corruption for you. That was the line from First Deputy Prime Minister Igor Shuvalov in an interview with Bloomberg Television last week […]

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Russia’s economy: facing down challenges; The head of the OECD says Russia has work ahead to fulfill its leadership potential

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(Moscow News – themoscownews.com – January 21, 2013) Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, addressed the Gaidar Forum in a keynote address on Friday. [The global economic outlook] has deteriorated again, and the word “again” is probably the more operative one. We are indeed far from being out of the woods. We predict a […]

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Russia to Keep State Control of Shelf – Dvorkovich

Map of Barents Sea and Polar Environs

MOSCOW, January 22 (RIA Novosti) ­ Russia has no plans to allow foreign companies to work independently on the country’s continental shelf but will let them develop offshore deposits there in partnership with Russian state firms, Deputy Prime Minister Arkady Dvorkovich said on Tuesday. “As for the admission of foreign companies, no changes are planned, which means foreign companies can […]

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Ministers Offered WTO Training

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(Moscow Times – themoscowtimes.com – Roland Oliphant – January 21, 2013) Government ministers were offered a free crash course in WTO rules after one of the country’s most senior financiers savaged officials for failing to understand the organization Russia finally joined last year. Pascal Lamy, the head of the World Trade Organization, said Friday that the group would be willing […]

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OECD Chief Says Accession Is a Learning Process

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(Moscow Times – themoscowtimes.com – Irina Filatova – January 21, 2012) Accession to the Organization for Economic Cooperation and Development provides a good chance for Russia’s decision-makers to identify weaknesses in social and economic policy and respond with adequate reforms, the organization’s secretary general said. Jose Angel Gurria, who spoke at the Gaidar economic forum on Friday, said work on […]

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OSCE in need of renewal – Lavrov

File Photo of OSCE Banners

MOSCOW. Jan 18 (Interfax) – The Organization for Security and Cooperation in Europe must get rid of imbalances and double standards by 2015, becoming a fully-fledged international organization with its own charter, said Russian Foreign Minister Sergei Lavrov. “Russia sees the Helsinki + 40 initiative as an important step that aims to launch the process of the OSCE’s renewal and […]

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Left-Wing Economist to Draft Government Strategy

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Alexander Bratersky – January 21, 2013) A left-wing economist who advocated firing Prime Minister Dmitry Medvedev will help draft the government crisis strategy in case of economic turmoil, according to a presidential order published in December, Vedomosti reported Friday. Sergei Glazyev will be on a task force that will develop the strategy. It will also […]

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WTO provides Russia with pluses for protecting domestic agro market – Russian Agriculture Minister

File Photo of U.S. Dairy Cows

(Interfax – January 21, 2013) Russia’s accession to the World Trade Organization (WTO) brought the country many advantages for protecting the domestic agriculture market, Agriculture Minister Nikolai Fyodorov said at a press conference in Berlin. “We view WTO accession as satisfactory and believe that it provides more pluses for protecting the domestic market,” he said. Membership in the international trade […]

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Russians Late on Loans, But Credit Bubble Not Bursting Yet

Cash, Calculator, Pen

MOSCOW, January 21 (Vladislav Fedotkin, RIA Novosti) ­ Russians have been shopping hand over fist in recent years, and borrowing more money than they can pay back to do it. Last year, overdue consumer loans surged, but analysts say that as long as world oil prices don’t plunge, a slew of emerging safeguards is likely to keep the credit bubble […]

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Russian Energy Review in 2012: Consolidating State Control in an Uncertain Market

Oil Well file photo

(Eurasia Daily Monitor: Volume 10, Issue 10 – Jamestown Foundation: jamestown.org – Margarita Assenova – January 18, 2013) Increased state control and consolidation of the oil and gas sector marked Russia’s energy developments in 2012, while the state budget remained heavily dependent on energy revenues. At the same time, Russia’s markets in Europe are shrinking due to the economic crisis […]

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Russia losing out from globalization of economy – Gref

World Map Showing Continents, Greens, Browns, Ice

(Interfax – January 17, 2013) The Russian economy is losing out from the process of globalization, Sberbank (RTS: SBER) president German Gref believes. “A question: are we gaining or losing on global markets? Answer: losing. We gained in all recent years only thanks to resource exports. On all other positions we are losing,” Gref said at the Gaidar Forum, commenting […]

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TRANSCRIPT: Prime Minister Dmitry Medvedev attends Gaidar Forum-2013 International Conference “Russia and the World: Challenges of Integration”

File Photo of Cash, Coins, Line Graph

(http://government.ru – January 16, 2013) Speech by Dmitry Medvedev at the forum: Good afternoon, colleagues, ladies and gentlemen. I would like to thank you for inviting me to speak at the Gaidar Forum. Life changes fast. Currently, all of us, Russians of course, take for granted the possibility to build our lives as we see fit and to do it […]

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World Bank Praises ‘Doing Business’ Progress

Empty Boardroom

(Moscow Times – themoscowtimes.com – Irina Filatova – January 18, 2013) Russia is on the right path to radically improve its business environment and move up 100 notches within the next five years in the global rankings of the favorableness of countries’ investment climate, a World Bank official said Thursday. But its eventual position in relation to other countries in […]

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Russian stock market could remain volatile in 2013 – CBR

File Photo of Outdoor Electronic Sign with Russian Exchange Data

MOSCOW. Jan 17 (Interfax) – The development of the Russian stock market this year will to a significant degree be determined by the influence of external conditions, and high volatility is likely to continue, according to a review of the financial market in 2012 worked up by the Central Bank of Russia’s research and information department. This year could see […]

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Issue of Russia meeting WTO obligations closed – WTO Director General

(Interfax – January 17, 2013) The question of Russia meeting its obligations to the World Trade Organization is closed, WTO Director General Pascal Lamy said Thursday at the Gaidar Forum in Moscow. He said Russia has been a member of the trade body for five months already, so the question of the country meeting its obligations is a thing of […]

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Kremlin Won’t Assume Some WTO Commitments

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(Moscow Times – themoscowtimes.com – January 17, 2013) Russia will not have to assume many of the commitments to liberalize trade that are approved during the Doha round of World Trade Organization talks, the government’s top trade negotiator said Wednesday, Interfax reported. “Russia would like to see [the Doha round] wrap up as quickly as possible if only for pragmatic […]

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Ulyukayev Considers $10Bln Quarterly Flight ‘Acceptable’

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Howard Amos – January 17, 2013) A capital outflow of up to $10 billion every three months would be an acceptable level under current macroeconomic conditions, a leading figure at the Central Bank said. Russia saw $56.8 billion leave the country in 2012, stoking fears that the Kremlin is struggling to control capital flight and […]

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TRANSCRIPT: [Putin] Meeting on economic issues

File Photo of Vladimir Putin Speaking with Flag Behind Him and Microphones in Front

(Kremlin.ru – January 16, 2013) The Kremlin, Moscow Vladimir Putin held a meeting on economic issues to discuss the financial results for 2012 and measures to develop Russia’s economy. PRESIDENT OF RUSSIA VLADIMIR PUTIN: Good afternoon, colleagues. We will discuss the results for 2012 today and look at additional measures to ensure economic growth. The situation in the global economy […]

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Medvedev Wants Economy to Grow 5% Annually

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Irina Filatova – January 17, 2013) Prime Minister Dmitry Medvedev on Wednesday urged the Cabinet to ensure stable economic growth of at least 5 percent a year in the near future, a goal some officials said might require changes to current budget policy. The major goal for the country’s government is “to ensure transition to […]

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Winter in Russia: cold indoors as well as out

File Photo of Moscow In Snowy Winter Showing St. Basil's At Night in Snowfall, with People on the Ground in the Distance

(www.opendemocracy.net – Mikhail Loginov – January 16, 2013) Mikhail Loginov is a journalist and novelist based in St. Petersburg. He is the author of the recently published bestselling political thriller “Battle for Kremlin”. Most radiators in urban Russian homes are fed by hot water transported from heating plants miles away. Ageing pipes frequently burst, causing hardship and even fatalities. Could […]

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Political modernization must be carried on – Medvedev

Dmitry Medvedev file photo

MOSCOW. Jan 16 (Interfax) – The political modernization course is unwavering, Prime Minister Dmitry Medvedev said at the Gaidar Forum on Wednesday. “We need political modernization and qualitative broadening of political and economic freedoms,” he said. The other tasks are qualitative renovation, comprehensive modernization of various spheres of the country’s life, technological modernization, economic diversification, reduced dependence on fluctuations of […]

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Shuvalov Firm on Tax Policy

Igor Shuvalov file photo

(Moscow Times – themoscowtimes.com – January 16, 2013) First Deputy Prime Minister Igor Shuvalov said Wednesday that the government would not raise taxes for business before 2018, provided that events of a “global” scale do not influence the situation. In an interview published in Kommersant on Wednesday, Shuvalov said that the government finalized its midterm tax strategy last year. “Up […]

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Russia Should Abandon Sectoral Industry Aid – Medvedev

Dmitry Medvedev file photo

MOSCOW, January 16 (RIA Novosti) ­ Russia should abandon its policy of providing state support to specific sectors of the economy and start supporting domestic firms integrating into world production chains, Prime Minister Dmitry Medvedev said on Wednesday. “It is necessary to go beyond the sectoral approach, which has been established and is frequently practiced in our country. The focus […]

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Putin relatively satisfied with Russian economic performance in 2012

File Photo of Cash, Coins, Line Graph

MOSCOW. Jan 16 (Interfax) – Russia’s economic performance was “relatively satisfactory” in 2012, Russian President Vladimir Putin said at a meeting dedicated to economic affairs at the Kremlin. “The economic results of the year have not yet been conclusively summed up, but the preliminary figures look relatively satisfactory. According to the Economic Development Ministry’s estimates, GDP growth for January-November of […]

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Year 2012 showed that Russia has learned to deal with problems – Shuvalov

Igor Shuvalov file photo

(Interfax – January 16, 2013) Year 2012 was calm politically and good economically, despite the difficult State Duma and presidential elections, First Deputy Prime Minister Igor Shuvalov said in an interview published in the Wednesday edition of Kommersant. “To me, as a government official, our condition at the end of 2012 is an additional confirmation that the country has learned […]

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Russia Says World Is Nearing Currency War as Europe Joins

File Photo of Cash, Coins, Line Graph

(Bloomberg – bloomberg.com –  Simon Kennedy & Scott Rose – January 16, 2013) The world is on the brink of a fresh “currency war,” Russia warned, as European policy makers joined Japan in bemoaning the economic cost of rising exchange rates. “Japan is weakening the yen and other countries may follow,” Alexei Ulyukayev, first deputy chairman of Russia’s central bank, […]

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Russia might not commit to liberalizing trade at Doha WTO talks – Medvedkov

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(Interfax – January 16, 2013) Russia, as a country that only recently joined the World Trade Organization (WTO), might not assume many of the commitments to liberalize trade that are approved during the Doha round of talks, Maxim Medvedkov, head of trade negotiations at the Russian Economic Development Ministry, told Interfax. “Russia would like to see [the Doha round] wrap […]

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Lavrov Talks Customs Union With Ukraine

Russian Naval Vessel in Ukrainian Port

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – January 15, 2013) Foreign Minister Sergei Lavrov and his newly appointed Ukrainian counterpart, Leonid Kozhara, had a series of meetings on Sunday and Monday to underline the importance of fostering strategic ties between the two countries, with Ukraine’s potential accession to the Russia-dominated Customs Union a central topic. Relations have been strained […]

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Gaidar Forum returns with stellar line-up

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(Moscow News – themoscownews.com – Nathan Gray – January 15, 2013) The fourth annual Gaidar Forum kicks off at the Russian Presidential Academy of National Economy and State Administration on Wednesday, bringing together Russian and international economic leaders to discuss key policy issues around the theme of “Russia and the World: The Challenges of Integration.” The forum grew out of […]

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