ALEXEY VEDEV TOOK PART IN THE AEB SEMINAR “TALKING ABOUT RUSSIAN ECONOMY”
On June 27, Alexey Vedev, Doctor of economic sciences, Head of the Financial Studies Department at the Gaidar Institute, took part in the 10th round of seminars of the Association of European Businesses (AEB) “Talking about Russian economy” dedicated to structural transformation of the Russian economy. During the event, prominent Russian and foreign experts discussed the most important development issues of the Russian economy, exchanged views on macroeconomic scenarios and forecasts.
During his presentation Alexey Vedev spoke about challenges faced by the Russian economy in the last few years and submitted a scenario forecast of socio-economic development for the near future. According to Alexey Vedev, the geopolitical events happening in the world can become a global obstacle to the development of the world economy. Many countries are facing serious economic problems, high inflation, unemployment and declining production, indicating that global economy is unstable and multidirectional. Negative impacts on the Russian Federation required the government to take effective stimulus and regulatory measures, which were successfully implemented. Russia's economy showed moderate growth in 2023, but the sanctions pressure remains the determining factor in the dynamics of growth.
Alexey Vedev noted the growing share of public investment among funding sources. According to the economist forecast, a marked decline in investment activity is expected in 2023, whose recovery will depend on a large number of market factors, such as interest rates on loans, corporate sector profits and the restoration of investment import opportunities.
Concluding his presentation, Alexey Vedev focused on the need for the following measures:
– ensuring financial stability: exchange rate, inflation, interest rates;
– controlling tariffs and commissions of the banking system;
– supporting final demand using fiscal and monetary policy instruments;
– developing national equity and debt market;
– promoting the expansion of Russian exports, both energy and industrial.