A program that prepares for the Kremlin, the head of the Center for strategic research (CSR) Alexei Kudrin, will lead to the degradation of the economy and the falling living standards of the population, said presidential Advisor Sergei Glazyev. In his opinion, Kudrin thesis contains no less than eight common misconceptions, primarily about inflation and its impact on economic growth, the Newspaper said.<url>
Suggestions Kudrin about the inverse relationship between inflation and economic growth – is a fallacy. There are many studies proving the absence of such dependencies within moderate inflation, emphasizes the eyes. For each state of the economy has its own optimal rate of inflation: the worse the quality of management of the economy and the more primitive its structure, the higher is this level, he says. With regard to education and science, Advisor to the President provides money for it to spare.
“Kudrin’s proposals on the budget cuts run counter to views expressed earlier are correct thought about the need to increase spending on these areas. Expenditures should be increased at least twice. In order to even catch up with the level of expenditure in Europe,” – said Glazyev.
Also, in the opinion of the adviser, the collapse of the ruble, the import will not replace. Glazyev believes that the team Kudrin has not learned lessons “from the mistakes made during the transition to inflation targeting in terms of release rouble in free swimming”.
“Disoriented because of the uncertainty of the ruble, the real sector has not used the full possibilities of import substitution and the foreign exchange segment of the Moscow exchange became the main center of profit generation at the expense of manipulations with the ruble,” — said Glazyev.
Occurred in this situation, the flow of money, including loans the Bank of Russia on the foreign exchange market contributed to the decline in investment activity and the retraction of the economy in stagflation, sure eyes. His verdict on the programme Kudrin hard.
“Dear Alex, if you do not get rid of the listed misconceptions that are quite common among our educated experts who had studied hastily at popular textbooks and blindly trusting the recommendations of the IMF, to develop the economic growth of your group can not. The current version of the program, which prepares the President, is not tenable. Dogmatism is the enemy of successful policy development,” concludes the eye
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