 |
 | Russia | | 16.09.2002 | | European Economic Summit 2002 | Often struggling to make himself heard over the enthusiastic exchanges of a capacity crowd at the dinner, Alexander Zhukov, Member of the State Duma, and Chairman, Committee on Budget and Taxes, Russian Federation, detailed some of the budgetary figures which make up the good economic news currently emanating from Russia: 4.5% GDP growth last year; inflation at 10-12%; a stable exchange rate of 33.5 roubles/US$. "Yes, Russia is doing well and you should be proud," said Jean Lemierre, President, European Bank for Reconstruction and Development (EBRD), London, but he emphasized the absolute necessity of sustainability. Andrei Illarionov, Adviser to the President, and the President's Personal Representative to theG-7/G-8 Summit, Russian Federation, felt that while "pretty reasonable", Russian economic growth is not as good as it could or indeed should be. He guarded against the "dizziness of success" and over-dependence on oil. In a similar "could do better" vein, Andrei Piontkovsky, Director, Center for Strategic Studies, Russian Federation, explained that high-technology businesses are able to flourish in Russia thanks to the sheer enormity of the country, the high standard of human capital and the fact that "success is difficult but not impossible" thus providing an "exciting challenge" to entrepreneurs - but all this is despite a politically and economically unfriendly environment.
There was disagreement over the role of the chaebol-type of business and its effect on the overall economy. Anders Aslund, Senior Associate, Carnegie Endowment for International Peace, USA, saw it as a way of redistributing capital while Piontkovsky regarded it as a path leading to stagnation.
Mikhail Margelov, Chairman, Committee for Foreign Affairs, Federation Council, Russian Federation, acknowledged the impressive nature of the "numbers" but went on to say that now it is not only the Russian economy which can inspire interest from abroad. He observed that over the last two years there has also been a major shift in the international perception of Russian foreign policy. Thanks to a new political generation, foreign policy is no longer ideologically dominated and most significantly has achieved a new level of understanding and direct dialogue with the US. However, when it comes to Europe, Erik Berglöf, Director, Stockholm Institute of Transition Economics (SITE), Stockholm School of Economics, Sweden, Russia is suffering from a lack of EU sensitivity. He believed that Russia has every right to be worried when ten more countries are on the verge of accession and that there is a real need on the part of Europe for a much broader engagement with Russia.
In the realm of domestic politics Vladimir Ryzhkov, Member of the State Duma, Russian Federation, and a Global Leader for Tomorrow 1999, observed that in spite of a most stable political situation for ten years, some major problems persist: laws adopted by the Duma are not being implemented and despite the strength of the central government little has been done to counter corruption and vested interests. Ryzhkov cited as important deficits the absence of a real democratic opposition and the non-existence of a federal mass media.
Hubert Burda, Publisher and Chief Executive Officer, Hubert Burda Media, Germany, and a Co-Chair of the European Economic Summit 2002, observed that a similar gathering of German business people would probably have been much quieter, but that he was sure this vociferousness directly reflects the energy level of the Russian business community. |
|
|
|
|
