Money for the public sector will end earlier than hoped the Ministry of Finance
Money for pensions in Russia anymore. This country has learned from the revelations of the Crimean Government Chairman Dmitry Medvedev. Soon run out of money and the payment of salaries to state employees, added the Deputy Finance Minister Tatyana Nesterenko picture. If the "policy" does not offer the solution out of the center "storm" to pay civil servants, doctors and teachers will have nothing at the end of 2017, said the Ministry of Finance representative. It is now clear why the Economy Minister Alexei Ulyukayev could not find the bottom of the crisis - it was necessary to look around themselves funnel. On the one hand officials agree that the storm will not survive the Russian economy in the magical land where the money will be enough for everyone. On the other - do not want to include, again, according to Nesterenko, controlled operation. About Observatory financial and economic bloc, the new storm coming and spending cuts in an interview with On the eve said the head of the Center for Economic Research Institute of Globalization and Social Movements Basil Koltashov.
Question: Tatyana Nesterenko at a youth forum in a new way to visualize the current crisis - the center of the storm, where the apparent happily all can be destroyed in seconds. As far as corresponds to the realities of the Minister? And the storm will develop in what scenario?
Koltashov Basil: It is quite right has described the situation. We passed the next phase of the crisis of high activity, but the stabilization phase, we also have almost overcome and the first heralds of the new storm. Contrary to Nesterenko, it is not calm, one phase in the middle of them has been at least three. And we are in the next phase, which will end as soon as oil prices fall, as they have already indicated that they will move down, falling from $ 50 per barrel to $ 42-43. This is a signal of the future weakening of the ruble, as the budget crisis in Russia is growing, devaluation was obviously not enough for the government to fulfill its budget obligations. Formally, the economy thrown more money, but they are impaired, and talk about some kind of performance can only be of value in value. On the crisis in Russia will affect external events: the collapse of the global market, China's accession to the crisis, possibly, the election of the president of Trump affect negatively. It can tighten the taps on which American banks get free money and then throw them on speculation in oil, playing on the rise. If Clinton inconvenient Russia in the political sense, Trump will deal with the crisis in their country and this will be inconvenient for us economically. But it adds to the problems and the Russian government, which makes the reduction of the type of tough European economy in Southern countries (Greece, Italy, Spain, Portugal). We need to avoid a repetition of the policy, but the liberal ministers do not want to act in the interests of the consumer and the national market. The acute phase will be provided not only to the fall in oil prices, but the lazy policy on internal causes of the crisis. None of them, including the crisis in the housing market is not eliminated.Q: The very Nesterenko said that because of the storm can be accessed only in a controlled manner. There are prerequisites to the fact that it include?Basil Koltashov: Ministry of Finance together with the Ministry of Economic Development and sitting on them, Mr. Shuvalov set up an observatory. They put a magnifying glass, that look and make some statements. "We see the bottom", - they say, and then it turns out that turbidity in the telescopes and in fact we are in the middle of the storm. In their view, the storm in the economy comes to an end in itself, as a natural phenomenon. But in the economy people have to deal with it, everything Observatory enough. The problem is that when our liberal ministers begin to act, things are even worse. Take, for their plan of massive layoffs in the system of science and education, measures to reduce the number of medical institutions - it all worked out of the crisis, as the government has gone out of the economy. Interestingly Nesterenko in a statement only that officials have finally moved away from the concept of "the bottom of the crisis." Ulyukayev now would be indecent to deliver their statements, because many times he felt for what is not. But as the storm will continue and how many he has centers, we do not know.Q: Another recognition Nesterenko - by the end of 2017 will not have money for the payment of salaries to state employees, that is, the performance of "May decrees". This preparation of society to the deterioration of the situation?Koltashov Basil: It is really preparing for a large reduction in the social and budgetary costs. Of course, if nothing is done in terms of reducing oil revenues, the money runs out, together with foreign exchange reserves. In fact, the authorities admitted that they lead us to disaster and want nothing to do but to carry on.Question: That is admitted their own mistakes?Basil Koltashov: Since power mimic the observatory, they say that it is an objective set of circumstances. All opportunities were missed as early as 2012, when the Government was formed Medvedev. First of all, the Cabinet began to cut social spending, acted exactly the same way as the EU. Consequence - the collapse of the property market, the decline in household income. After the collapse of the oil market it was obvious to everyone that Russia has entered into crisis. Then there was talk about a monitoring and forecasting, but not the responsibility for what is happening with the economy.Question: According to the forecast of the Ministry of Finance representative, the money runs exactly to the presidential election. Ministry of Finance forecasts rarely come true, but they do believe in them, then why even be allowed the likelihood of social unrest in the run-up to an important campaign?Basil Koltashov: Foreign exchange reserves and money in general will miss much earlier. The plans of our ministers no account of future events. For example, if oil drops to $ 35-30, then at the end of 2016 - beginning of 2017 may run out of money, which will lead to a new devaluation. By this they have mentally prepared. As for the presidential election - the wrong payment was made. Elections need to be carried out this summer, or earlier. It is expected that the situation now needs to improve, but there is no such trend. It gets worse.Alain Laskutova
Where funneling budget?
The bankers have stolen 550 billion rubles from the collapsed bank, estimated DIAMore than 80% of the causes of bank failure are criminal in nature
Daria Borisyak
The damage caused by criminal acts of managers and owners of banks exceeded 550 billion rubles., The conclusion made by the Deposit Insurance Agency (DIA) in the course of studying the activity of the liquidated rehabilitated and credit institutions. Calculations Agency contained in the materials for the meeting of the expert-analytical Council under the DIA, which will be held on Thursday March 31 (the document is a "Vedomosti").Since 2005, under the management of DIA has received about 500 banks, the elimination of about half have been completed, according to the materials. The cost of assets of liquidated banks on average only 10% of their book value. More than 80% of the causes of bankruptcy are criminal in nature and linked to the withdrawal of assets as a result of questionable, economically unjustified transactions, which take place with the knowledge or in the interests of the owners of the banks, causing significant financial damage. In this regard, the DIA has sent 417 applications to law enforcement authorities, and since the beginning of 2014 the state corporation has sent 159 such applications, according to the materials for the meeting.
Investigative bodies instituted 284 criminal cases related to the damage to the banks of their leaders and owners in the production is 210 cases. "As a result of investigation of criminal cases handed down 49 indictments against the owners, managers and employees of financial institutions (including 20 convictions -. In 2014-2016), and another 10 cases are pending in the courts," - the document says.DIA tries to compensate by feeding a civil action for compensation for it, and the requirement of bringing supervisors to vicarious liability. Total DIA stated claims totaling 164 billion rubles., The courts have satisfied the requirements of 97 billion rubles. "Nevertheless, the real possibility of the penalty awarded sums of money, in practice there are a number of objective difficulties" - indicates the state-owned corporation in the materials.
Often, the DIA and the Central Bank faced with the attempts of owners deliberately delay the proceedings, but the real recovery of funds from the perpetrators is difficult because in most cases, by the time of execution of court decisions in the defendants did not have a significant property in Russia. Increasingly, DIA faced with the facts of the output controlled by the Bank officials misappropriated assets abroad, and do face in the event of banks have serious financial problems go beyond Russia. Currently, there are more than two dozen troubled banks, former executives and owners who are hiding abroad.In September 2015 the director of the expert-analytical department of the DIA Julia Medvedev said that at that time the agency was able to recover less than 1% of the decisions made by the courts in the 93 billion rubles.Example two
Net loss of "Rosnano" has tripled
at the end of the first half of 2016 net loss of JSC "Rosnano" has grown three-fold compared with the same period a year earlier and amounted to 8.3 billion rubles, "Interfax" reports with reference to the published report of state-owned companies.
In "Rosnano" the agency explained that the foreign currency losses brought 2 billion rubles loss and were due to ruble appreciation during the reporting period. The decline in interest income on placement of temporarily free funds added to the losses of another 1.7 billion rubles.In addition, the corporation said that the loss is directly related to the implementation of the strategy of JSC "Rosnano" in the years 2015-2020, which provides for significant investment in the Russian nanotechnology industry through the creation of funds."This has led to an increase in the loan portfolio and interest payments, which are significantly affected the financial result, namely, reduced it to three billion rubles," - said in a statement. Revenues for the first six months decreased by 19.4% compared to the same period last year and amounted to 2.9 billion rubles.The main source of revenue, "Rosnano" - is income derived from the excess of the price of the outputs of the entry price into the capital of the project company. Accordingly, during the period of receipt of the output of the companies were significantly lower than a year earlier.Recall the spring of this year, the Accounting Chamber has recognized half the investment projects "Rosnano" not effective: it costs when you exit out of eight projects have brought the company 13.1 billion rubles of losses. The company then explained the bad investments of 13 billion rubles by market forces and technology, finance, marketing and other "inevitable in innovation risks."In addition, the control agency has proposed to prohibit the leadership of "Rosnano" to receive compensation for loss-making projects of the funds raised under the state guarantees.Later, the head of "RUSNANO" Anatoly Chubais, generally agreeing with the observations of the Accounting Chamber, explained that compensation measures may make sense to motivate employees in their implementation specialists.In June, the company announced that they refuse to perform "irrational" the recommendation of the Chamber of Accounts
Money for pensions in Russia anymore. This country has learned from the revelations of the Crimean Government Chairman Dmitry Medvedev. Soon run out of money and the payment of salaries to state employees, added the Deputy Finance Minister Tatyana Nesterenko picture. If the "policy" does not offer the solution out of the center "storm" to pay civil servants, doctors and teachers will have nothing at the end of 2017, said the Ministry of Finance representative. It is now clear why the Economy Minister Alexei Ulyukayev could not find the bottom of the crisis - it was necessary to look around themselves funnel. On the one hand officials agree that the storm will not survive the Russian economy in the magical land where the money will be enough for everyone. On the other - do not want to include, again, according to Nesterenko, controlled operation. About Observatory financial and economic bloc, the new storm coming and spending cuts in an interview with On the eve said the head of the Center for Economic Research Institute of Globalization and Social Movements Basil Koltashov.
Question: Tatyana Nesterenko at a youth forum in a new way to visualize the current crisis - the center of the storm, where the apparent happily all can be destroyed in seconds. As far as corresponds to the realities of the Minister? And the storm will develop in what scenario?
Koltashov Basil: It is quite right has described the situation. We passed the next phase of the crisis of high activity, but the stabilization phase, we also have almost overcome and the first heralds of the new storm. Contrary to Nesterenko, it is not calm, one phase in the middle of them has been at least three. And we are in the next phase, which will end as soon as oil prices fall, as they have already indicated that they will move down, falling from $ 50 per barrel to $ 42-43. This is a signal of the future weakening of the ruble, as the budget crisis in Russia is growing, devaluation was obviously not enough for the government to fulfill its budget obligations. Formally, the economy thrown more money, but they are impaired, and talk about some kind of performance can only be of value in value. On the crisis in Russia will affect external events: the collapse of the global market, China's accession to the crisis, possibly, the election of the president of Trump affect negatively. It can tighten the taps on which American banks get free money and then throw them on speculation in oil, playing on the rise. If Clinton inconvenient Russia in the political sense, Trump will deal with the crisis in their country and this will be inconvenient for us economically. But it adds to the problems and the Russian government, which makes the reduction of the type of tough European economy in Southern countries (Greece, Italy, Spain, Portugal). We need to avoid a repetition of the policy, but the liberal ministers do not want to act in the interests of the consumer and the national market. The acute phase will be provided not only to the fall in oil prices, but the lazy policy on internal causes of the crisis. None of them, including the crisis in the housing market is not eliminated.Q: The very Nesterenko said that because of the storm can be accessed only in a controlled manner. There are prerequisites to the fact that it include?Basil Koltashov: Ministry of Finance together with the Ministry of Economic Development and sitting on them, Mr. Shuvalov set up an observatory. They put a magnifying glass, that look and make some statements. "We see the bottom", - they say, and then it turns out that turbidity in the telescopes and in fact we are in the middle of the storm. In their view, the storm in the economy comes to an end in itself, as a natural phenomenon. But in the economy people have to deal with it, everything Observatory enough. The problem is that when our liberal ministers begin to act, things are even worse. Take, for their plan of massive layoffs in the system of science and education, measures to reduce the number of medical institutions - it all worked out of the crisis, as the government has gone out of the economy. Interestingly Nesterenko in a statement only that officials have finally moved away from the concept of "the bottom of the crisis." Ulyukayev now would be indecent to deliver their statements, because many times he felt for what is not. But as the storm will continue and how many he has centers, we do not know.Q: Another recognition Nesterenko - by the end of 2017 will not have money for the payment of salaries to state employees, that is, the performance of "May decrees". This preparation of society to the deterioration of the situation?Koltashov Basil: It is really preparing for a large reduction in the social and budgetary costs. Of course, if nothing is done in terms of reducing oil revenues, the money runs out, together with foreign exchange reserves. In fact, the authorities admitted that they lead us to disaster and want nothing to do but to carry on.Question: That is admitted their own mistakes?Basil Koltashov: Since power mimic the observatory, they say that it is an objective set of circumstances. All opportunities were missed as early as 2012, when the Government was formed Medvedev. First of all, the Cabinet began to cut social spending, acted exactly the same way as the EU. Consequence - the collapse of the property market, the decline in household income. After the collapse of the oil market it was obvious to everyone that Russia has entered into crisis. Then there was talk about a monitoring and forecasting, but not the responsibility for what is happening with the economy.Question: According to the forecast of the Ministry of Finance representative, the money runs exactly to the presidential election. Ministry of Finance forecasts rarely come true, but they do believe in them, then why even be allowed the likelihood of social unrest in the run-up to an important campaign?Basil Koltashov: Foreign exchange reserves and money in general will miss much earlier. The plans of our ministers no account of future events. For example, if oil drops to $ 35-30, then at the end of 2016 - beginning of 2017 may run out of money, which will lead to a new devaluation. By this they have mentally prepared. As for the presidential election - the wrong payment was made. Elections need to be carried out this summer, or earlier. It is expected that the situation now needs to improve, but there is no such trend. It gets worse.Alain Laskutova
Where funneling budget?
The bankers have stolen 550 billion rubles from the collapsed bank, estimated DIAMore than 80% of the causes of bank failure are criminal in nature
Daria Borisyak
The damage caused by criminal acts of managers and owners of banks exceeded 550 billion rubles., The conclusion made by the Deposit Insurance Agency (DIA) in the course of studying the activity of the liquidated rehabilitated and credit institutions. Calculations Agency contained in the materials for the meeting of the expert-analytical Council under the DIA, which will be held on Thursday March 31 (the document is a "Vedomosti").Since 2005, under the management of DIA has received about 500 banks, the elimination of about half have been completed, according to the materials. The cost of assets of liquidated banks on average only 10% of their book value. More than 80% of the causes of bankruptcy are criminal in nature and linked to the withdrawal of assets as a result of questionable, economically unjustified transactions, which take place with the knowledge or in the interests of the owners of the banks, causing significant financial damage. In this regard, the DIA has sent 417 applications to law enforcement authorities, and since the beginning of 2014 the state corporation has sent 159 such applications, according to the materials for the meeting.
Investigative bodies instituted 284 criminal cases related to the damage to the banks of their leaders and owners in the production is 210 cases. "As a result of investigation of criminal cases handed down 49 indictments against the owners, managers and employees of financial institutions (including 20 convictions -. In 2014-2016), and another 10 cases are pending in the courts," - the document says.DIA tries to compensate by feeding a civil action for compensation for it, and the requirement of bringing supervisors to vicarious liability. Total DIA stated claims totaling 164 billion rubles., The courts have satisfied the requirements of 97 billion rubles. "Nevertheless, the real possibility of the penalty awarded sums of money, in practice there are a number of objective difficulties" - indicates the state-owned corporation in the materials.
Often, the DIA and the Central Bank faced with the attempts of owners deliberately delay the proceedings, but the real recovery of funds from the perpetrators is difficult because in most cases, by the time of execution of court decisions in the defendants did not have a significant property in Russia. Increasingly, DIA faced with the facts of the output controlled by the Bank officials misappropriated assets abroad, and do face in the event of banks have serious financial problems go beyond Russia. Currently, there are more than two dozen troubled banks, former executives and owners who are hiding abroad.In September 2015 the director of the expert-analytical department of the DIA Julia Medvedev said that at that time the agency was able to recover less than 1% of the decisions made by the courts in the 93 billion rubles.Example two
Net loss of "Rosnano" has tripled
at the end of the first half of 2016 net loss of JSC "Rosnano" has grown three-fold compared with the same period a year earlier and amounted to 8.3 billion rubles, "Interfax" reports with reference to the published report of state-owned companies.
In "Rosnano" the agency explained that the foreign currency losses brought 2 billion rubles loss and were due to ruble appreciation during the reporting period. The decline in interest income on placement of temporarily free funds added to the losses of another 1.7 billion rubles.In addition, the corporation said that the loss is directly related to the implementation of the strategy of JSC "Rosnano" in the years 2015-2020, which provides for significant investment in the Russian nanotechnology industry through the creation of funds."This has led to an increase in the loan portfolio and interest payments, which are significantly affected the financial result, namely, reduced it to three billion rubles," - said in a statement. Revenues for the first six months decreased by 19.4% compared to the same period last year and amounted to 2.9 billion rubles.The main source of revenue, "Rosnano" - is income derived from the excess of the price of the outputs of the entry price into the capital of the project company. Accordingly, during the period of receipt of the output of the companies were significantly lower than a year earlier.Recall the spring of this year, the Accounting Chamber has recognized half the investment projects "Rosnano" not effective: it costs when you exit out of eight projects have brought the company 13.1 billion rubles of losses. The company then explained the bad investments of 13 billion rubles by market forces and technology, finance, marketing and other "inevitable in innovation risks."In addition, the control agency has proposed to prohibit the leadership of "Rosnano" to receive compensation for loss-making projects of the funds raised under the state guarantees.Later, the head of "RUSNANO" Anatoly Chubais, generally agreeing with the observations of the Accounting Chamber, explained that compensation measures may make sense to motivate employees in their implementation specialists.In June, the company announced that they refuse to perform "irrational" the recommendation of the Chamber of Accounts
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