Russian economy in 1995. Trends and Perspectives (Issue 14)
Publication date
Friday, 19.04.1996
Authors
Y. Gaidar V. Mau Ye. Misanchenko S. Sinelnikov-Murylev G. Starovoitova V. Dobrynin T. Mastyugina A. Kozhanovsky L. Perepelkin V. Stelmakh Yu. Figatner S. Batkibekov V. Medoev K. Reznikov S. Titov I. Trounin Ye. Shkrebela G. Trofimov S. Arkhipov O. Buklemishev S. Malakhov D. Shiganov D. Belousova O. Izryadnova G. Kuranov Yu. Poltavets V. Ranenko I. Mikhamedshin I. Makarov I. Pilman Yu. Bobylev Ye. Serova L. Korbut I. Khramova O. Melyukhina T. Tikhonova L. Davydova V. Faltsman S. Prikhodko N. Leonova N. Volovik N. Kuznetsova I. Kolosnytsyn V. Krasinikova S. Shishkin I. Rozhdestvenskaya S. Smirnov A. Radygin G. Malginov L. Gorbatova V. Tsapelik T. Dolgopyztova T. Edimenchenko V. Kosmarsky T. Maleva S. Smirnov A. Yakovlev S. Tsukhlo R. Gershman
Series
Russian Economy: Trends and Perspecitves
During the time which passed since the beginning of the post-communist reforms, the year 1995 became the most successive in the long period of implementation of the standard course of the macro-economic stabilization. At the same time, the general background remained unfavorable enough, even critical at the beginning of and at the end of 1995. The January’s climax of the Chechen war and the December’s elections finished in the victory of the anti-Government (and anti-stabilization) forces of the communists and nationalists form the political framework of the today’s (fourth in the latest three years) attempt to stabilize the Russian economy.
Contents
SECTION 1. SOCIAL AND POLITICAL OUTLOOK 1
1.1 Political Environment and the Economy 1
SECTION 2. MONETARY AND BUDGET SPHERES 9
2.1 Public finances 9
2.2 Monetary Policy 51
2.3 State Securities 74
2.4 Interest Rates and Money Markets 84
2.5 Finances of Entities 92
SECTION 3. INVESTMENT PROCESSES 96
3.1 Investment Policy 96
3.2 Investment environment in the real sector of economy 99
3.3 Foreign investments 104
SECTION 4. THE REAL SECTOR OF THE ECONOMY 112
4.1 Main trends in the real sector of the economy 112
4.2 Industry 118
4.3 Agro-Industrial Complex 126
SECTION 5. RUSSIA AND INTERNATIONAL ECONOMY 140
5.1 Russia within the International Trade System 140
5.2 Regulation of External Economic Activities 142
5.3 Foreign Trade Pattern 144
5.3.1 Balance of Payments 149
SECTION 6. SOCIAL SPHERE AND LABOR MARKET 152
6.1 Living Standards 152
6.2 Social and Cultural Sphere 157
6.3 Labor Market and Employment 162
SECTION 7. INSTITUTIONAL AND MICROECONOMIC DEVELOPMENTS 167
7.1 Privatization Process in Russia in 1995 167
7.1.1 General pattern of the privatization process 167
7.1.2 Small-scale privatization 172
7.1.3 Scenario-based outlook on privatization process developments in Russia in 1996 through 2000 176
7.2 Changes in the Structure of Enterprises` Stock Capital 182
7.3 Enterprises with Foreign Investments 185
7.4 Major Trends in Industrial Enterprise Restructuring 188
7.5 Business Situation in Industry 195
7.6 Business Outlook in Construction 198