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Силуанов Антон
Anton Siluanov
First Deputy Prime Minister of the Russian Federation - Minister of Finance of the Russian Federation
Quotes
14.02.2019
RIF 2019
Export Accelerator: Learning to Trade Globally
Export is an indicator of competitiveness of our products, and we [the Government — Ed.] must ensure that our products meet all of the global standards
14.02.2019
RIF 2019
Export Accelerator: Learning to Trade Globally
The tasks of the Russian Export Center: to advise the Russian regions and SMEs on the opportunities that they have to enter the foreign markets; to assist them in arranging their entry into the foreign markets; to help them identify the markets for their products; to provide financial support
14.02.2019
RIF 2019
National Projects and the Regions: Key Questions at the Beginning of the Road
In 2019, 2020 and further on, funding will be streamed towards regions to implement national projects. And this money will be the foundation for stimulating economic activity, which means private investment will grow and there will be more opportunities to build up the revenue base for regional budgets
14.02.2019
RIF 2019
National Projects and the Regions: Key Questions at the Beginning of the Road
Now we need to sign agreements that will define action parameters in regards to national projects and Russia’s regions: subsidy-related monetary agreements and agreements on implementing national projects. <…> National projects and subsidies require 1,866 agreements. As of yesterday, we have 1,322 signed. We have two days left to sign these agreements: subsidy-related ones and performance-related ones for Russia’s regions. If we fail to do so before 15 February, the money will go to the Reserve Fund
14.02.2019
RIF 2019
National Projects and the Regions: Key Questions at the Beginning of the Road
Our objective is to find the right way to channel resources and efforts to deliver on our objectives. We have 15 indices and methods to set objectives for each region; some of those indices have specific targets for each and every region
14.02.2019
RIF 2019
National Projects and the Regions: Key Questions at the Beginning of the Road
The start is crucial: the way we start implementing all this work will determine the way it goes further. Our start is rooted in good basic performance. Over the last year, all regions showed an increment in their revenues. Generally all 85 regions gained 15%. Most regions ran a budget surplus, which brought us to the total surplus of over 500 billion roubles. That has never happened since 2007. And another important thing, our government debt began going down
14.02.2019
RIF 2019
National Projects and the Regions: Key Questions at the Beginning of the Road
National projects are not something stiff, and we agreed that during implementation of the projects we will review state funding. That’s why if there’s a project in need for state support, while another one is stuck, the funding will get redistributed
25.05.2018
SPIEF 2018
Achieving Strategic Objectives
When we talk about national projects, we mean a continuation of those project-based approaches that we began implementing a couple of years ago in the Government. Here the goals are clearly defined; they are not spread out over some 30 to 50 tasks, as was the case with state programmes. There is a clear number of resources as well as control over [the projects’] implementation. [...] We believe that it should be a success this time round.
25.05.2018
SPIEF 2018
Achieving Strategic Objectives
This kind of comprehensive coverage of national projects is a new approach to project management. A national project is, on the one hand, a structural project, while on the other, it covers a whole range of financial resources presently scattered around and allocated to different areas of budget expenditures. Of course, the reforms necessary in a number of different areas will be put in place, regional capabilities and resources will be engaged, and institutional solutions will be utilized.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
We will plan the budget in accordance with the principles and rules that we have set out in legislation. This is a key question of the predictability of exchange rate policy. In many ways, we depend on the situation in world markets. Therefore, the price of oil, gas – it all affects our rate. The predictability of exchange rate ratios is one of the elements of predictability of business performance and one of the elements of the desire or unwillingness to invest in our economy. These budget rules just level the exchange rates and grant predictability to changes in exchange rates. This is a key task of the Ministry of Finance.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
How the economy works depends in large part on how the budget is organized. The situation with the budget and the situation with oil and gas have determined the growth rate of the economy. Oil prices declined, and the economy went down. Oil prices grew, and what followed was the 5–6% growth we all saw in the previous years. But this is not because we have implemented some kind of reforms. And the last time we had growth rates over 4% was in 2011, because oil prices rose to USD 110 a barrel back then. We spent more money through the budget, more money came into the economy. Now a tool has been created by which the influence of oil prices and other external factors is offset by the principles upon which the budget has been based.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
We propose not changing the situation with income tax. It is the main source of local budgets and one of the key sources for regional budgets. Therefore, any changes could conceivably lead to serious shifts in budgets.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
After adopting clarifying parameters in the tax system, we have no intention of changing them for at least 6 years. Yes, there will be changes now. We plan to make the primary tax decisions in the spring session of the State Duma. This is just predictability for business.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
The primary goal is to ensure growth of 3–4%. To do this we need more investments, especially extra-budgetary investments, which we expect to come from entrepreneurs and foreign investors, etc. Therefore, we need to create conditions that are conducive to profit. So that investments made in Russia bring in a stable income, are predictable, and cover investor risks. Therefore, the issue of stability, predictability of conditions – these are issues of fiscal, budgetary, and monetary policy.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
A decision has been made to reduce excises. The state will receive less taxes here. Excises on gasoline and diesel are one of the main sources for road funds for the regions of the Russian Federation. To ensure the stability of the road industry, the stability of the implementation of those regional plans that have already been created for the current year, we will have to give almost 100% of excises to regional road funds.
25.05.2018
SPIEF 2018
Fiscal and Tax Policy as Factors Affecting Economic Growth
We are talking about the need for budgetary manoeuvring within expenditures, restructuring them in such a way as to better meet development goals. Now our task is to provide just such a manoeuvre within expenses so that the expenses would stimulate investment. We’re talking about infrastructure, the development of the digital economy, and support for exports. It is our intention to see to all of this, including by means of budgetary measures.
25.05.2018
SPIEF 2018
The New Economic Povestka* (NEP): The What, the How, the Who?
The most complex task is achieving the specified economic growth rates. If we achieve this aim, then the wellbeing of the population will increase, too. This is the Government’s main objective. In the past, economic growth rates in Russia were inextricably linked to energy resource prices. We have now created a foundation which is less dependent on oil prices
24.05.2018
SPIEF 2018
Forum Opening Ceremony
The positive growth rates in the global economy are breaking records. We have heard the IMF has forecasted growth of just under 4% for this year. That is a high rate
24.05.2018
SPIEF 2018
Forum Opening Ceremony
We need to identify shared themes, and we need dialogue. This will be one of the conditions by which we will be able to remove the barriers which are beginning to dominate economic discussions – be they sanctions, or protectionism. [...] Trust in the international arena serves as a guarantee of sustainable economic development, and of eliminating the negativity which we are currently witnessing in the form of protectionism and restrictions in global trade
24.05.2018
SPIEF 2018
Forum Opening Ceremony
The sanctions imposed on a number of countries – Russia included – are primarily protectionist in nature: they put their own manufacturers at an advantage to the detriment of their partners, and to the detriment of the rules of world trade
24.05.2018
SPIEF 2018
Forum Opening Ceremony
Despite all the restrictive measures in place, our main objective right now is to achieve higher economic growth rates and bring them up to global levels. In line with this, the Russian Government is currently drawing up a course of action with the aim of boosting investment activity, improving the social security system, and achieving higher rates of economic growth. [...] We have opened up our country, instituted more liberal regimes, and provided support to companies which have experienced difficulties due to the sanctions. Without a doubt, times have become rather more complicated, but this has had the reverse effect, and we are seeing a new quality of growth, and new solutions, both to improve the business climate in Russia, and to create the best possible conditions for entrepreneurs here
24.05.2018
SPIEF 2018
Turning Back the Clock: Political Rivalry vs Economic Interaction
China is our strategic partner. Each year we develop new economic ties and make new investments. This is a great prospect and a departure from the restrictions that others are trying to impose on Russia. [...] We are now taking measures to help individual companies. If we are told that a company is among the toxic ones with which nobody can do business, then the state should step in and back it up. The state will help companies that have found themselves in a difficult financial situation, but the sales markets of these companies are being reconfigured to new parts of the world, including in China
24.05.2018
SPIEF 2018
Turning Back the Clock: Political Rivalry vs Economic Interaction
Along with positive changes, the negative factor is also growing – protectionism and restrictions on trade and the flow of capital. Functional changes are taking place in international organizations that were created to integrate and increase economic growth. Now we are seeing the opposite processes – restrictions and sanctions, first for one and then for another country. This encompasses the ever growing perimeter of the world's economies, and now we see that sanctions can extend to allies as well. The continued policy of protectionism and the introduction of measures of extraterritorial influence in order to give preferences to one’s own economy only leads to a dead end
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
Indeed, overall we are witnessing a fairly sustainable global economic growth rate of nearly 4%
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
Investment and new cash injections are needed in order to ensure growth rates. It is these indicators which Russia is lagging behind in, when compared to countries with high growth rates. The level of investment in the country is a shade over 21%. In order to grow by around 3%, we need to increase this indicator to at least 25%. It is money from these investors which should help spur a new level of growth
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
As things stand, I consider the employment of long-term financing tools exclusively for investment in infrastructure to be an entirely justified solution
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
We need to develop the contributory system to ensure decent pensions, and specifically, voluntary personal pension capital. Such an institution must be established, and it must focus on broadening the pension scheme
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
The government must create stable conditions. This primarily relates to taxation. By this, we mean that we will not change the tax system over the next six years. Some specific adjustments are being made. We view our actions in this regard as reducing tax burdens which have a negative effect on business. We are creating a mechanism which would be of interest to entrepreneurs, and encourage them to open up, and operate officially. This will lead to a big contribution to GDP
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
Starting in 2019, we shall create a special fund, which, over a six-year period, shall invest significant amounts of government money in this area of the economy – perhaps around 3% of GDP – which will in turn attract the private sector. We suggest using public money to establish this fund. We can attract money from the market, and direct it to investment, which will lead to the creation of additional government assets, and which will work for the economy