World Economy

Russia Economic Policy Obscure

Russia Economic Policy Obscure  Russia Economic Policy Obscure

Russia’s business ombudsman Boris Titov says local entrepreneurs are concerned more about unpredictability in the economic policy than issues related to demand for goods and services and currency exchange rates, Tass reported. “The report that is annually prepared for the Russian president contains social researches. The problem of unpredictable economic policy tops the list of problems that businessmen are concerned about today. It’s not even demand, which is the second issue on the list, and not the exchange rate, the ruble’s volatility, which is the third, not taxes, which is the fourth, and interest rates, which are the fifth, but Russia’s global problem on the whole—the obscurity of the economic course,” he said. According to Titov, the report prepared for President Vladimir Putin contains 234 systematic problems, which need to be tackled for further development of business environment in the country. “But the key thing is that the economic policy does not meet the case. Today a new economic policy is required because Russia’s new economy should be developed as the economy independent of commodities and dependent on us, entrepreneurs,” he said.