Economy shall be driven by changes in production policy. Comment from Ilgiz Baymuratov made for the Expert Ural

The figures for the six months have nearly given reason to speak on speed-up of the Russian economy: for the six months the GDP has become 1.5 time more compared to the similar period of 2016. However, last week the preliminary statistic information for July was released: the production growth rate is worse than in June, according to it, moreover, by each indicator. Let us get an idea why the economy fails to grow steadily and its perspectives for at least the nearest six months.

Ilgiz Baymuratov

Deputy General Director of FinExpertiza

- The effect of incentives launched before is running short. We have recently faced appreciation of the national currency which adversely affects competitiveness of domestic products in global markets. And the worst is that the state aid programmes are beginning to fail. Market participants are talking about delays in subsidies and misbalanced easy-terms loans to agricultural producers. Just a short number of large agricultural producers could obtain aid from the government.