Businessman Deripaska compared the situation with the Russian budget to “hitting your butt on the ice”
Entrepreneur Oleg Deripaska was concerned about the decline in Russian budget revenues, estimating the possible drop at 10-12 trillion rubles. This could happen with a significant reduction in prices for all major Russian export goods, the billionaire believes.
The reason why the budget may miss such amounts, he called suppressed economic growth and “the tyranny of state capitalism, raising prices for all its products and services, drawing subsidies and subsidies from the budget.”
In general, a trap, the way out of which is only serious economic changes, for which, apparently, there is no will yet…
Deripaska compared the situation with budget revenues to “hitting the butt on the ice”
Commenting on Bloomberg’s material about the decline in world prices for base metals, the businessman noted that “what is called a soft landing in the world continues.” “And with this year’s record tax collection of 46 trillion rubles, next year’s revenue situation will look like hitting the butt on ice,” counted Deripaska.
Estimation of 46 trillion rubles of total revenues to the budget system of the Russian Federation expressed Head of the Federal Tax Service Daniil Egorov. The increase compared to the previous year will be nine percent.
Previously, Deripaska criticized Russian state capitalism and spoke about the wrong choice
This is not the first time the billionaire has carefully criticized the Russian economy. For example, in July he wrote that the sad consequences of the 15-year experiment in creating state capitalism are visible to the naked eye, and therefore he called for changing the vector and starting “a new normal life in a state that will live according to the law, and not according to concepts, with functioning institutions and a free market economy.”
He also hinted at this in his words about the mistaken choice in 2008 in favor of the model of expanding the state’s share in the economy. Now everything that contains the prefix “state” cannot produce a competitive product or service, and ultimately Russia will be forced to take the opposite route, Deripaska said.
At the same time, he reasoned that Russia would be able to rebuild a new economy in five to seven years due to the fact that the United States “will forget about it for some time because of its problems.” “Russians will again have a chance to engage in the development of Rus’ (…). Then there will be an opportunity to attract foreign investors, of whom there are enough in friendly countries,” the billionaire said.
The draft budget of the Russian Federation for three years was adopted with a deficit of 0.9 percent of GDP
On November 22, the Federation Council unanimously approved the bill on the federal budget for 2024 and the planning period 2025-2026. Its revenues in 2024 are expected to be 35.065 trillion rubles, expenses – 36.66 trillion. The projected deficit is 0.9 percent of GDP. The deficit should shrink over the next two years.
Now the draft budget will go to the head of state for signature. Earlier, Russian President Vladimir Putin said that the draft budget turned out to be balanced.
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