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Russian business eyes reform in Putin's fourth term



Russian companies expect far-reaching reforms and are full of proposals for a new government, as Vladimir Putin begins a fourth Kremlin era with promises to revive the country's economy.

While Moscow's relations with the West remain tense As never before, the new government will fulfill the task of achieving the ambitious goals put forward by Putin to Parliament in March.

In his last major speech before defeating the presidential election, Putin set a goal to halve the Russian half "unacceptable" poverty rate in six years by investing in infrastructure, housing and health services.

He also promised a growth rate of four percent over forecasts of one to two percent, as the Russian economy continued to stabilize after a recession ran until 2016.

But the 65-year-old Russian leader did not explain how he achieved those goals and wanted to solve the predominantly structural problem ems is holding back the growth of the country.

Oleg Kouzmin, an analyst at investment bank Renaissance Capital, said business circles expected "concrete reforms and real-life development plans" after Putin's inauguration on Monday.

– "Small Steps" –

In recent years, the government has focused primarily on fiscal and monetary discipline to avoid dramatic changes in the deficit or debt in a country traumatized by the 1998 financial crisis. Kouzmin said it was hoped that the new government would take action to "tackle the weakness of the labor market and the employment market". English: emagazine.credit-suisse.com/app/art … = 263 & lang = en Negative demographic dynamics "as well as weaknesses in education and health care.

The support of investors and the financial development of the Russian regions would also be welcome, he added.

Thanks to the Control of Inflation, a These Targets According to Renaissance Capital, "Longer to Achieve Than Earlier"

Chris Weafer, founder of consulting firm Macro Advisory, commented on a public debate on infrastructure finance, taxes and public spending on education and services Health could come at the beginning of Putin's new term.

But Weafer said it was "unrealistic" to hope for sweeping reforms.

"Vladimir Putin received a mandate from a people more or less satisfied with the way the country is governed."

"The reforms in Russia are progressing and will continue in small steps, so as not to risk unexpected consequences or instability, "he added.

– Kudrin, the reformer –

Alexei Kudrin – a liberal former finance minister respected by business in Russia and by foreign investors – is expected to return to recast in the Kremlin

The 57-year-old He said he was ready to help, "provided we do not stop midway."

Weafer said Kudrin could demand "an ambitious reform program, the only option he needs to avoid a long period of stagnation"

Kudrin pushed Putin into a raft of unpopular measures during the election campaign earlier this year.

He advocates reducing the number of Russian bureaucrats by 30 percent in six years and increasing the retirement age for men 63.

The retirement age of Russia, which is currently 55 for women and 60 for men, is one of the lowest in the world. In the face of demographic decline, the pensions system, despite tight pensions, is increasing the federal budget.

Kudrin has also called for the introduction of technology classes for children at a young age to "create two million additional developers to digitize the economy", Reflecting the hopes of the business world.

"Changing the Secondary and University System We do not need so many lawyers, we need technology experts," said Oleg Tinkov, founder and chairman of the Tinkoff Bank Board of Directors

But even if he gets government support , Kudrin will implement its reforms in the traditional restraint of the Russian state towards a major reform.

"President Putin is clearly in favor of a more cautious approach," Weafer said.

"Even in years of growth he was against high debt because of the consequences in terms of national security."

Russian P's native Vladimir Putin promised a growth rate of four percent over forecasts of one to two percent since then the Russian economy continues to stabilize after a recession until 2016


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