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Primakov outlines Russia's economic policy in Davos
Russian Prime Minister Yevgeny Primakov said that "further market reforms and the development of the economy as an organic part of the world economy is a high road for Russia." "However, we will have to make considerable corrections in the former reform policy," Primakov said at a plenary session of the World Economic Forum in Davos on Saturday. "Our task is to prevent social upheavals, ensure stability in society and improve living standards through sustainable economic growth, and, in the future, to create a socially-oriented market economy," the prime minister said. The main resource which the government has and which it will seek to retain is the support of people, the parliament and the president, he added. He stressed that this creates new opportunities for advancing reforms, which all the previous governments lacked. How is Russia going to get out of "the economy of mistrust" created by the August 17, 1998 crisis? First, the government is strengthening the regulating functions of the state. But this does not mean that Russia is building a mobilisation economy. Instead it is seeking to create an efficient economic system with transparent and effectively protected "rules of the games", the prime minister noted. Second, the Russian government has not taken and will not take any steps which would economically isolate Russia from the rest of the world, Primakov said. Russia has not embarked on the path of default on its debts and is negotiating with the London Club of creditors. "I hope we will find a mutually acceptable solution with the Paris Club too. We are doing everything possible to successfully conclude our talks with the International Monetary Fund and the World Bank," he said. On the threshold of the 21st century, the Russian economy is looking for its place in the international division of labour. We want that not only resources, but also the rich intellectual potential of our country to be used in this process. While thinking about Russia's p ... Read more
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