Putin instructed to develop an alternative to Kudrin's economic program

Monday, 25 July, 2016 - 13:15

Russian President Vladimir Putin instructed to finalize the report of the Stolypin club and on its basis to prepare a new program of economic development, alternative to Kudrin's economic plan. The program itself should be given to the Bureau of Economic Council in the IV quarter of 2016.

The Stolypin club report advises to increase the investment, pumping up the economy with money from the state budget and by the issue of the Bank of Russia. In turn, the concept of the Center for Strategic Research (Alexei Kudrin) suggested that investments should be private and the state is to ensure macroeconomic stability, low inflation, reduced budget deficit.

Katheon experts comment on this:

The decline of Kudrin's influence and a new alternative in the face of the Stolypin club is a sign of the decline of the hardcore liberal economical vector in Russia. An alternative was found in a more conservative and government controlled economic vector. In a way it is a more keynesian economics. Pyotr Arkadyevich Stolypin after whom the club is named was a chairman of the Council of Ministers, served as Prime Minister, and Minister of Internal Affairs from 1906 to 1911. His tenure was marked by efforts to counter revolutionary groups and by the implementation of noteworthy agrarian reforms. Stolypin was a monarchist and hoped to strengthen the throne. He is considered one of the last major statesmen of Imperial Russia with clearly defined public policies and the determination to undertake major reforms. Alexei Leonidovich Kudrin  was a typical representative of the sixth column and a major liberal pro-globalist lobbies in Russia. Kudrin’s plan revived much criticism from Russian  conservative patriots, socialists and people of Russia alike. The decline from Kudrin’s economic course is a welcomed measure.