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Thursday, 14 December 2017

Medvedev’s reform programme

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A month before the presidential vote Russian president-elect Dmitry Medvedev laid out the bulk of his reform programme during a speech at an economic forum in Siberia’s Krasnoyarsk.

It is a liberal programme and builds on President Vladimir Putin reforms, but shifts the focus away from the strategic sections like banks and hydrocarbons which occupied most of Putin’s time and towards promoting small- and medium-sized enterprise, the social services and will attempt to tackle the long-overdue administrative reforms. It is an extremely ambitious programme – much more ambitious than Putin’s.

Medvedev summed up the goals with the “four I’s”: institutions, infrastructure, innovation and investment. He went on to say the government needs to solve seven tasks:

_ Develop an independent judicial system

_ Radically reduce red tape

_ Decrease taxation

_ Transform the ruble into the local reserve currency

_ Modernize transport and energy infrastructure

_ Form the basis of a national innovation system

_ Realize a social development program It seems that developing an independent judicial system and reducing red tape are the most challenging and important tasks.

“The program is entirely plausible, as the Kremlin enjoys both the political power and financial resources to realize it in full,” said Evgeny Gavrilenkov, chief economist at Troika Dialog.

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