FBK Partners at the conference of ‘Bond Market of Russia 2013: Challenges of New Reality’

Date of publication

30.06.2013

On 27 June the V conference, organized by Uralsib Capital, of ‘Bond market of Russia 2013: challenges of new reality’ was held. Igor Nikolayev, Director of FBK Institute of Strategic Analysis, made a report on Russia’s economy: state, risks, trends, scenarios and prospects’.

“The presence of encumbrances and restrictions in conducting an effective economic policy arise from incorrect populistic decisions of the previous years’, noted the expert. According to him, the “second” wave of crisis has not been developing as swiftly as the ‘first’ one in 2008-2009. ‘There will be no avalanche-like fall; a quick ‘rebound’ should not be expected. We will be slowly sliding down into recession, which is much worse,’ warned the economist.

He reminded that at the International Economic Forum in St-Petersburg it was repeatedly mentioned that for the sake of growth it was necessary to reduce bank rates, dramatically bound the growth of natural monopolies tariffs and implement the infrastructural projects at the expense of the National Wealth Fund. However, according to I. Nikolayev, ROSSTAT carries out regular surveys among business leaders who among other factors affecting business activities list a high tax burden and insufficient demand at the home market. And attention should be paid to these indicators.

“Transformation of the economic model is inevitable as we have been postponing the relevant reforms too long; the situation may deteriorate at first’, resumed the expert.

In the work of the conference took part the representatives of specialized ministries and departments, Moscow stock exchange as well as the leading national and foreign economists and political analysts, the debt market experts, heads and top-managers of Russian issuers, as well as foreign and Russian investors specializing in the Russian debt capital market.

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