{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Former Finance Minister Kudrin says Russia's GDP to decline by 4% in 2015

Kudrin said that the current economic model, which was based on oil revenues and allowed to increase consumption without seriously improving production technologies, has exhausted itself

© TASS/Artiom Geodakyan

Read also

MOSCOW, June 3. / TASS /. The former Russian Finance Minister and the head of the Civic Initiatives Committee think-tank Aleksei Kudrin said that the fall of the Russian economy this year will amount to roughly 4%, he said Wednesday speaking at the Federation Council.

"The Ministry of Economic Development expects this year's GDP to decline by 2.8%. I think the fall will be deeper - roughly 4%," he said.

Thus, according to Kudrin the Russian economy is in a full-fledged crisis "in all existing parameters."

Investments in fixed assets this year are falling almost like in the time of crisis in 2009, the real effective ruble exchange rate is now down by about 15%, "it is three times worse than in 2009," Kudrin said.

Besides that, about 500,000 people can lose their job in Russia during the crisis.

Speaking about the negative factors that affect the Russian economy, Kudrin noted that the sanctions factor "takes away 1% to 2% from the GDP."

In general, according to him, another factor affecting the low rate of economic growth in Russia besides sanctions is the lack of structural reforms and low oil prices.

Kudrin said that the current economic model, which was based on oil revenues and allowed to increase consumption without seriously improving production technologies, has exhausted itself and needs to change.

According to Kudrin, it is necessary to reduce defense spending and to increase investment in human capital - spending on education, science and healthcare.

Tags

Russian court blocks JPMorgan’s funds in VTB lawsuit

The court also blocked any securities held by JPMorgan’s entities in Russia

Russia presents world’s first hydrogen-fueled luxury car at Innoprom exhibition

The unique vehicle was built on the basis of the Aurus Senat luxury car

Russian forces take Ukrainian strongholds near Klescheyevka under control

Apty Alaudinov posted a drone video footage of elimination Ukrainian personnel and Russian forces capturing enemy trenches

Russia recovers black boxes from crashed Tu-22M3 bomber

According to the law enforcement, the search for the fourth crew member is ongoing

All those linked to Crocus terrorist attack must be punished — Putin

"Russia’s intelligence services and law enforcement agencies are investigating and scrutinizing every detail of this despicable act [the Crocus City Hall terrorist attack], identifying all parties involved, including instigators, sponsors, and orchestrators," the Russian president stressed

Energy facilities catch fire in Russia’s Smolensk Region following drone attacks

Governor Vasily Anokhin added that rescuers from the Russian Emergencies Ministry were dealing with the aftermath of the Ukrainian drone attacks

Armenia’s decision on CSTO membership its sovereign choice — secretary general

Commenting on the possibility of a confrontation between Armenia and the CSTO amid Yerevan’s remarks on its aspiration to leave the organization and get closer with NATO, Imangali Tasmagambetov noted that such a scenario is "merely hypothetical"

Russian envoy, authorities of Afghanistan call for unfreezing of Afghan assets

The Foreign Ministry noted that the sides discussed "further development of the diverse bilateral cooperation in political and economic areas, and the establishment of the regional cooperation with Afghanistan within the Moscow format"

Calls for joint use of nuclear weapons with US dangerous — ICAN

The organization believes that the states that deploy nuclear weapons on their territory are "consenting to be party to mass murder of civilians"

Weapons for new US package for Kiev yet to be found — Ukrainian ambassador

Oksana Markarova explained that $4 billion worth of weapons that was to be provided under the previous decisions still remained undersupplied

US has no idea what to do about Zelensky — Seymour Hersh

According to the journalist, the decision to conduct the operation was made by US President Joe Biden personally, following nine months of discussions with White House national security advisers

Destroyed TV tower in Kharkov carried Ukrainian air defense coordination device — official

Digital TV signal interruptions are now observed in the city

Russia has significant amount of West’s funds in case of confiscation of its assets

Russia views the West’s encroachment on its assets as "a blatant and shameless theft for the purpose of lining its pockets," Maria Zakharova noted

Western countries plant spy infrastructure in their embassies, says CSTO secretary general

Among other challenges Imangali Tasmagambetov named the lack of an international legal framework for regulating relations in the field of information security and the implementation of a unilateral policy in this field

Raisi doubts 'Israeli regime' to exist in case of its attack on Iran

"If Israel makes a mistake and attacks Iran, completely new conditions will emerge for it and it is unclear whether anything will be left of the Israeli regime at all," the presidential press service quoted Raisi as saying

US effectively dooms Ukraine by its new decisions, Russian envoy says

"The American aid won’t save Zelensky. New weapons will be destroyed, and the special military operation goals will be achieved," Anatoly Antonov stressed

Gagauzia against Chisinau’s policy of severing ties with Russia

According to Yevgenia Gutsul, Gagauzia has never experienced such pressure from Chisinau

Russian tourists flock to North Korea — embassy

"Today, under the two countries’ leaders’ special attention, political contacts, exchanges, cooperation in the economic, culture, science and other areas are developing with renewed momentum," Minister Plenipotentiary of the republic's embassy in Russia Lee Yong Zin said

Russia and friendly countries produce almost 90% of components for Aurus cars — NAMI

"We developed this car in close cooperation with European, Korean and other foreign partners, but due to certain events we had to abandon this cooperation," Alexander Lebedev pointed out

US 'not forgetting' to help itself with aid to Ukraine — Kremlin

"In any case, whatever the modality of providing this aid, de facto it is about provoking Ukraine into further hostilities down to the last Ukrainian, putting guarantted money in the pockets of the US," Dmitry Peskov said

Over 14,700 residential houses remain flooded in Russia

The source also said that 38,302 Russians have been evacuated from flooded areas and settlements potentially falling into these zones since the beginning of the spring floods

Top Swiss diplomat reiterates need for Russia’s involvement in resolving Ukraine issue

However, Ignazio Cassis declined to comment on Russian Foreign Minister Sergey Lavrov’s recent statement that Switzerland had turned from a neutral country "into an openly hostile one"

Russia’s advanced radar in Kaliningrad to monitor entire territory of Europe — source

The first Konteiner radar went on combat duty in the Volga area region of Mordovia on December 1, 2019

Moscow court arrests Deputy Defense Minister Ivanov over bribery case

The court said that Timur Ivanov is accused of receiving a bribe as part of an organized group while performing contracted and subcontracted work for the Defense Ministry

Ukraine exhausted, needs constant money flow from outside — defense official

Apty Alaudinov added that if the Ukrainian army received long-range weapons, it might try to attack Russia's civilian infrastructure due to its powerlessness on the front

Most agents at Security Service of Ukraine set on war with Russia — former officer

Vasily Prozorov said that "it is extremely difficult to count on any better judgement on their part"

Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

Top stories from the Russian press on Monday, April 22nd

Ukrainian forces refuse to obey Commander-in-Chief Syrsky — CIA ex-analyst

Larry Johnson also noted that the Russian forces manage to advance recently despite the slush on the roads

Biden to sign Ukraine aid bill on April 24

According to a statement released by the White House, the US plans to resume weapons supplies to Kiev this week

Global community changing tune about how Ukraine conflict started — security official

According to Nikolay Patrushev, these countries "understand perfectly well who is financing" the Kiev regime

Beijing condemns US hypocrisy around Ukraine conflict

Foreign Ministry Spokesman Wang Wenbin reiterated that China "is not an instigator or a party to the Ukrainian crisis and has never fanned the flames of the conflict, not to mention, used the situation for its own purposes"

Ukraine lost best fighters near Artyomovsk, retired general says

Sergey Krivonos added that relocation of troops from one direction to another will not solve Ukrainian forces’ problems, and that each fighter should be used according to their specialization

Radicals, intel services behind terror attacks in various countries, says Putin

The tactics employed by these criminals are becoming increasingly complex and barbaric, the Russian leader pointed out

Russian troops wipe out Ukrainian UAV production workshop over past day

The Russian forces improved their frontline positions and inflicted casualties on five Ukrainian army brigades in the Donetsk area over the past day, the Defense Ministry reported

Russia’s victory in Ukraine to change course of history in Europe — von der Leyen

Ukraine "is carrying a heavy burden" for the benefit of the EU, and therefore EU member states must "provide Ukraine with means to defend themselves," European Commission president said

IN BRIEF: Russian deputy defense minister, entrepreneur arrested for taking bribes

According to the investigation, Timur Ivanov and Sergey Borodin "criminally conspired with third parties" in order to receive a bribe "as providing monetized services when conducting contracted and subcontracted work" for the Defense Ministry

Russia's response to seizure of frozen assets in US to have no timeframe — chief delegate

Konstantin Gavrilov emphasized that the US will have to be brought to account for this decision

Mexicans, Colombians recruited in US jails to be deployed in Ukraine — SVR

Russia’s Foreign Intelligence Service said that in case the inmates agree to this "mission," "they are promised full amnesty, reckoning they would never come back"

Top Russian security official praises Republika Srpska’s principled position on Ukraine

"In this context, we particularly appreciate the principled position against joining the sanctions regime, your firm and consistent line on the Ukrainian crisis is particularly valuable for us," Nikolay Patrushev pointed out

Hamas threatens that hostages remaining in Gaza may go missing

Spokesman for the Izz ad-Din al-Qassam Brigades Abu Ubaida emphasized that at the moment "the ball is in the court of Israel's allies," but "time and opportunities are limited"

Ukrainian connection to Crocus terrorist attack undeniable — ex-SBU officer

Vasily Prozorov noted that the perpetrators could have been eliminated once they crossed the border

US expert says more ATACMS won't alter battlefield dynamics in Ukraine

"There is no magic weapon, there is no series of weapons that could change this" situation for the Ukrainian armed forces, Scott Ritter said

Russia ready to cooperate with all interested partners to ensure security — Putin

The Russian leader expressed confidence that the the 12th International Meeting of High Representatives for Security Issues "will bolster cooperation for the mutual benefit of our countries and peoples"

Israel retaliates missile launches from Gaza Strip — IDF

A warning had been issued before the attack calling on people to temporarily evacuate from the area

Gagauzian leader on unity of Moldova’s opposition, ability to watch Russian TV channels

Yevgenia Gutsul underlined that Gagauzia plans to start exporting products to Russia in the near future

Conflict in Ukraine can be over by end of 2025, Hungary’s Orban believes

Prime Minister said that it is possible if proponents of peace, not war, win the June elections to the European Parliament and the US Presidential elections in November

Putin informed about detention of Deputy Defense Minister Ivanov

Minister Sergey Shoigu was also informed beforehand, Russian Presidential Spokesman Dmitry Peskov said

Drone crashes in industrial zone in Russian city of Lipetsk

There were no casualties, egional Governor Igor Artamonov said

NATO has no plans to deploy nuclear forces in Poland — Stoltenberg

NATO Secretary General did not immediately understand the reporter’s question, forcing the reporter to explain that they were referring to the idea of deploying nuclear weapons in Poland

Gaza settlement crucial for Islamic world, Erdogan believes

In his opinion, it would be a mistake to view the Gaza issue solely from the perspective of October 7, 2023, when the Palestinian-Israeli conflict sharply escalated

Russia, Africa united by common vision on global issues — senior diplomat

Mikhail Bogdanov noted that "the African continent is a dynamically developing part of the world with an enormous growth potential, attractive domestic market and expanding export prospects"

Press review: NATO flexes muscles near Russian border and South China Sea runs hot

Top stories from the Russian press on Wednesday, April 24th

North Korea’s economic delegation leaves for Iran — agency

According to Yonhap news agency, the trip may be related to the two countries’ plans to boost military ties

France preparing contingent of 2,000 troops to be sent to Ukraine — intelligence chief

According to Sergey Naryshkin, the French military "fears that such a large military unit cannot be transferred and stationed in Ukraine unnoticed"

EU may sanction 10 firms for allegedly shipping weapons tech to Russia — Bloomberg

According to the agency, the companies being assessed for potential sanctions are based outside Russia but have links to Russian and Belarussian individuals and firms

US can ship weapons to Ukraine within few days if funding approved — Pentagon

Russia to incorporate US nuke scenario in Poland in its military planning — diplomat

"Poland’s authorities make no secret of their striving to lean closer on the US nuclear weapons deployed in Europe and are actively using these ambitions in their hostile Russian policy," Maria Zakharova stressed

Press review: GOP tussles over Ukraine bill and Putin, Aliyev talk partnership

Top stories from the Russian press on Tuesday, April 23rd

Ukrainian troops in Kharkov Region lift antennas with kites to get better signal

Military expert Andrey Marochko speculated that the Ukrainian army had to resort to this tactic because the TV tower in Kharkov was damaged

Biden administration raking it in from Ukrainian conflict — North Korean diplomat

According to Im Chon Il, Washington's goal is to use the Ukrainian conflict to serve the interests of the US military monopolies and at the same time to subjugate the "puppet regime" of Ukrainian President Vladimir Zelensky

US arms supplies unable to change situation in Kiev's favor — Kremlin

Dmitry Peskov pointed out that a year ago the opponents "were telling everyone that they were waiting for the moment Russia would be defeated on the battlefield"

West’s unwillingness to give up hegemony escalates tensions in world — security official

According to Nikolay Patrushev, this creates conditions for the devaluation of international law and its institutions and the erosion of the UN's central role in resolving global and regional conflicts

Russian deputy defense minister detained on suspicion of bribe-taking

"Russian Deputy Defense Minister Timur Vladimirovich Ivanov was detained on suspicion of committing a crime under part 6, article 290 of the Russian Criminal Code," the Russian Investigative Committee said

Russia seeks to break down barriers for its food exports — MFA

Sergey Vershinin recalled that Russia suspended its participation in the Black Sea initiative for the export of grain and food due to the fact that it could not be implemented in the original volume

US using human rights topics to shake political situation in Russia — embassy

"Attacks against Russia mainly focused on challenging the legality of the special military operation in Ukraine", the Russian embassy said

Russian troops destroy four boats with Ukrainian assault force on Dnieper River

Russia’s Dnepr Battlegroup inflicted casualties on the 141st, 65th and 128th brigades of Ukrainian armed formations, delivered strikes on temporary deployment sites, military hardware and artillery positions of the Ukrainian army on the right bank of the Dnieper River, Vladimir Saldo said

US Senate approves aid bills for Ukraine, Israel, Taiwan

As many as 79 senators backed the initiative and 18 voted against

Kremlin vows legal action against US bill on seizing Russian assets

Dmitry Peskov noted that the trial will be "very complex," but will cause severe damage to US economic interests if the US authorities finally approve the bill regarding Russian assets

Russia maintains position on 'buffer zone' in Ukraine to counter missile threats

Dmitry Peskov added that the issue of fighting against long-range weapons being supplied to Ukraine and potential strikes on the areas where they are concentrated "is rather under the purview of <…> the armed forces"

Network of international conspirators plotted Crocus terrorist attack — watchdog

Yury Chikhanchin pointed out that the perpetrators of the attack were provided with money, weapons, transportation and ammunition

Russian children’s commissioner holds first face-to-face talks with Ukrainian counterparts

Maria Lvova-Belova thanked Qatar for setting up a venue for dialogue between Russia and Ukraine regarding children’s interests

Four women killed in Zaporozhye Region in Ukrainian drone attack

The local emergencies services stressed that the car was targeted deliberately

Top Russian security official pledges continued push toward global justice

Nikolay Patrushev added that Moscow is happy that its position is received well by most countries, whose delegates are attending a meeting in St. Petersburg

Ukrainian army short about 150,000-200,000 troops, says Polish general

Waldemar Skrzypczak also said it was "a matter of hours" until Kiev received the weapons allocated by the US as part of its latest military aid package

Putin proclaims Odessa Russian city, challenges Ukraine's historical narrative

At the same time, the president noted that once upon a time "Vladimir Lenin gave away the whole of Ukraine when he created the Soviet Union"

Kremlin vows to resolve situation with Turkish Airlines refusing service to Russians

Russia has "very constructive and friendly relations" with Turkey, Dmitry Peskov stressed

Throughput capacity of Baikal-Amur Mainline surging threefold in twelve years

Shipments over the Eastern Range uniting BAM and the Trans-Siberian railroad is to reach 270 mln metric tons per year over the ten-year period, the head of state said

Baku cannot turn blind eye to France, India, Greece arming Armenia — President Aliyev

"If we see a serious threat to us, we will have to take serious measures," the Azerbaijani President warned

Moscow slams NATO drills near Russian borders as inflammatory

"It is obvious that the upcoming combat training on the territory of Finland is part of a hybrid war against our country," Maria Zakharova said

Ukraine turns into testing ground for future world order, says Belarus president

"The largest nuclear powers, albeit indirectly, are actually fighting on Ukrainian territory. And not indirectly," the president of Belarus noted

Detained deputy defense minister suspected of taking grand bribe of over $10,000

This charges carries a punishment of up to 15 years behind bars

Republika Srpska president praises Moscow-Banja Luka relations, favors strengthening them

Milorad Dodik also touched upon the topic of sanctions mentioned by Patrushev earlier

US military aid for Kiev cannot stop Russian army’s advance — North Korean diplomat

The US Congress House of Representatives earlier passed bills on military aid to Ukraine, Israel and Taiwan

Modern weapons make up 82% in Russian air defense troops — Shoigu

"The Kiev regime has failed to achieve the goals of its counteroffensive prepared by NATO instructors," the defense minister said

Russia tasked with 'building new world' — Putin

Speaking at a plenary session of the Valdai Discussion Club, the Russian leader also highlighted "the role and responsibility" of its members

US incapable of replicating Cold War-era arms race — Valdai club expert

According to Dmitry Stefanovich, in order to prevent a new unbridled arms race, it is necessary to work on strategic stability as well as the sphere of arms control

Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

The total amount of blocked assets of the Russian Federation decreased by 150 million Swiss francs (about $165 million) due to the fact that a number of individuals "were removed from the EU sanctions lists"

Musk concurs that civil war looming in West

The US businessman commented on remarks by Gad Saad, a Canadian professor of Lebanese origin, who insisted that "the path that the West is taking will result in civil war"

Putin stays in daily contact with Sergey Shoigu, Kremlin spokesman says

Timur Ivanov was arrested by Moscow’s Basmanny Court

Canada allows Airbus to use Russian titanium despite sanctions — Reuters

"Airbus is aware of the Canadian government imposing sanctions on VSMPO and has obtained the necessary authorization to secure Airbus operations in compliance with the applicable sanctions," the company said

Putin’s inauguration to take place on May 7, senator says

According to the law, the president-elect takes office for six years

US stops hiding true purpose of sanctions on Moscow, Russian envoy says

"It’s not about any mythical aspirations to resolve the conflict in Ukraine, but about banal opportunistic and predatory ambitions," Anatoly Antonov said

Ukrainian army strikes own surrendering soldiers — POW

Andrey Babenko said that after a crash course in Britain he had been sent to the frontline near Liman

No damage, casualties after drone attack over Russia’s Kursk Region

Roman Starovoit thanked air defense troops and the regional crisis center and cautioned residents against approaching the drone wreckage if found

US authorities prepare military aid for Ukraine worth $1 bln — Reuters

The aid package includes vehicles, Stinger man-portable air defense system munitions, HIMARS rockets, 155-mm artillery shells, TOW and Javelin anti-tank missiles and other weapons that could be "used at the battlefield immediately"

Continued threats to Pyongyang to put US, allies in danger, Kim Jong Un’s sister warns

"We will keep building up overwhelming and strong military capacity to protect our sovereignty and security, as well as peace in the region," Kim Yo Jong said

Ukraine could send special forces to capture Zaporozhye NPP — politician

According to Vladimir Rogov, the Ukrainian troops are holding drills to cross the Dnieper from the right bank to the left bank and capture a large industrial site

Russia discourages use of UN sanctions for interference in African affairs — envoy

Vasily Nebenzya underscored that Russia continues to "make an important contribution to strengthening of African countries’ potential, including UN Security Council and General Assembly"

Russia’s top brass reports destroying US-made Hawk air defense system in Ukraine operation

Russia’s Battlegroup South inflicted casualties on personnel and equipment of two Ukrainian army brigades and improved its tactical position over the past day, the Defense Ministry reported

NATO makes Russia its neighbor by expanding eastward, Russian envoy says

Earlier, NATO Secretary General Jens Stoltenberg claimed that increased payments to the bloc’s budget were the cost of having Russia as a neighbor

US shifted conflict in Europe onto EU, NATO shoulders to weaken Russia, says Lukashenko

The Belarusian leader specified that the US had organized the conflict in Europe, in this case in Ukraine, and "shifted it onto the shoulders of the European Union and NATO, promising to help with money"