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How to Sew over Three Million Hole Named after Putin?

How to Sew over Three Million Hole Named after Putin?
Kalashnikov Maxim 09.07.2013


I won't support masking chatting about Snowden. I’ll write about things which are really important. Minister of Finance A.Siluanov declared that a hole in one trillion rubles threatens to be formed in the budget of 2013 and that it is necessary to unpack reserve funds to fill it.

Thus our forecasts continue to come true: Putin overloaded economy with senseless mega-expenses and tired it out into local crisis. To rescue situation is necessary to get rid of ballast first of all.


Siluanov's interest is clear: if you didn't go openly on devaluation, let's open a jug. It’s clear that it is impossible to increase taxes – it’s clear even to the liberals. Otherwise you will strangle all what still manages to breathe. Thus it is possible to claim that crisis in the Russian Federation began. Opening of crisis stock of money can’t be explained in different way. It already reminds the end of 2008.

Our opinion is as follows: to unpack reserves for banal filling of deficit gap is silly. We will again east up money uselessly. Financial reserves of the Russian Federation have to be spent on long-term investment programs. On infrastructure construction, on return of 40 million hectares of lands thrown since 1991 into the turn. To destroy outlined deficiency is necessary to get rid of senseless, criminal and wasteful and unproductive expenses first of all.

So, one trillion rubles of approaching annual deficiency are about 33 billion dollars. Cancel useless FIFA World Cup of 2018 – and the Russian Federation will save in total 50 billion dollars. It is a pity that the power can't cancel so criminal Olympic Games in Sochi: only this one step could have save half of the deficiency. Though there are other measures for elimination of deficiency.


Next logical (from the point of view of us, not of the top management) step – to start mechanism of infrastructure bonds. So that the state doesn’t spend budgetary money on construction of roads and other infrastructure, but has possibility to stretch these expenses for ten years. That is one trillion can be spent from treasury for one year at once, while it is possible (by means of bonds) to spend the same one trillion for 10 years. Thus to involve into construction the same money but from private business and citizens. What do you think about it? The state, having accurately defined the program of development and construction (having excluded useless stadiums), issues infrastructure bonds which are guaranteed by it and bring firm income of 10 percent annually. Citizens and business who now have no place to invest buy this reliable tool. It is much more favorable, than to try to rescue money buying apartments and cars. It is simpler to buy bonds, than incredibly expensive housing.

In this case it is possible to involve tens billions dollars lying "under a mattress" today or filling real estate market into rough construction. It is a mean to involve into business bank means being generally spent on crediting of citizens who buy cars and home theaters (stimulating industry of China and the West). At the same time it’s a mean to save sharply on the state expenses, reducing deficiency.


One more step: to spit on the norms of WTO and to levy additional tax on import of cars into the country. (Thus without lowering duties on other goods as WTO demands). RF buys import cars for the total sum of 70 billion a year! It is pure decumulation of the country because foreign ready-made cars are useless for its development. They represent pure consumption, the Russian Federation turns into a milk cow for support of foreign car industry. Technique and equipment should be imported into the country instead of cars from the point of view of the national interests. Things which will work, give workplaces and real product. It’s proper thing to remove at least 7 billion from 70 billion dollars spent on import.

At the same time it’s necessary either to sabotage impudently norms of WTO, or to leave it in general. As only acting this way is possible to enter protectionist barriers which will encourage adjustment of various production in the Russian Federation, having restored its profitability.


There are other measures of correction of critical situation without devaluation, decumulation of reserves and increase of taxes. For example, use of issue (gross domestic product of the Russian Federation hasn’t been demonetized twice). Use of printing of rubles not on banal filling of the hole in treasury (it means fast and destructive inflation), but on financing through special bills (analog of the German MEFO bills) of infrastructure construction. The budget remains as though aside here, however new rubles injected into economy will go only to business, at that participants of projects will start paying new taxes, filling up the budget.

At the same it’s necessary to remove federal (but not local) taxes on agriculture completely. It is senseless to tax village (only 1,5% of federal budget income), if the same sum is given on support of landowners. More money is spent to collect taxes. While, having made village the All-Russian offshore, you attract huge private investments into its productive projects. In only five years the state will thus replace 40-50 billion dollars spent on import and will gain additional income, having saved good means on the need to support depressive remote regions.


This is our program. Though the power won't agree on it – it is already visible. It appoints liberals of the 90s to key economic posts. Like the teacher and journalist Ulyukayev. Like Nabiullina. It’s possible to appoint ill with pyromania people to work in fire-fighting crew with the same success.

Well, then let crisis will come, it will dump all rotted through and fallen into weak-mindedness system. Then we need to think and act in respect of what to do after new "February revolution". How to take the power then.

Then we will really overboard all ballast…

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