The president of boardovercoming of financial dependence of economic policy of Russia typical for last decade from the western creditors was One of the main things economic (and even ideological) problems of an epoch of Vladimir Putin.
the IMF in 1990 - e gave years to the Russian government advice about carrying out of a rigid financial policy and struggle against inflation. These councils were sometimes carried out, sometimes were not carried out, and the fund depending on the satisfaction a state of affairs in Russia gave that, did not give credits. The Parisian and London clubs should be asked for re-structuring of the huge external debt inherited from Soviet period. It was clear that the Russian financial position is completely defined by kind credit will of the West because the currency was necessary to the Russian authorities, and it was extremely insufficiently. Therefore from the very beginning of presidency Vladimir Putin needed to provide escalating of gold and exchange currency reserves of the Central Bank, having shown I Will sink down that at Russia it is some currency. Business was extremely helped by that circumstance that the world prices for oil in 2000 were at quite decent level - at least twice above what were observed in 1998, in a year Russian currency - financial crisis. After 2000 some years of successively price not drop, and since any moment in general began to establish a record behind a record. In the country petrodollars have rushed a powerful stream, and their considerable part has anyhow appeared in Central Bank reserves. The radical change has not less helped with moods of the Russian banks, and also simple citizens also. Since 2003 the rouble constantly grew, and the dollar constantly fell. All have decided that is necessary to get rid of dollars while they have not fallen in price at all urgently. The Central Bank has willingly supported this idea, having put forward the official slogan dedollarizatsii the Russian economy, - and has begun to buy up dollars within the limits of this dedollarizatsii. And replenishment of reserves was given to it exclusively easily as it paid off with roubles printed by him for dollars, moreover, it was possible to present operation of purchase of dollars as rouble intervention in support of the American currency that it at least fell not so quickly. As a result by the end of 2007 when the world price for oil reached a point of $100 for barrel, gold and exchange currency reserves of Russia already were on the third place - after China and Japan. With the majority of debts Russia has ahead of schedule paid off, any western country did not have even a small part of the Russian currency reserves, and about any financial dependence of the Russian economic policy on the western creditors and speech did not go.
to show successes of independent Russian economic policy, in 2003 Vladimir Putin has put forward idea of doubling of Russian gross national product. However, the authorities have got confused, to what term it it is necessary to do - not that for 10 years, that is by 2013, not that by 2010. The Russian slogan of doubling of gross national product has reminded of Japanese experience 1950 - h years. Japanese then have provided the decision of a problem of doubling in the shortest terms. Russia also has shown quite good rates. Business spoke that in the conditions of high inflation and constant depreciation of dollar the Russian citizens had a proof impression that all money - both Russian, and foreign - depreciates and it is necessary to put faster them in purchase of the goods. Despite import growth, the Russian manufacture also began to grow - citizens bought any goods.
Fierce growth of internal demand has provided maintenance of the Russian inflation at stably high level, absolutely inconceivable after measures of the western countries. Despite Vladimir Putin`s all requirements to accept drastic measures on inflation bridling, consumer prices in Russia did not obey him, and in 2007 rates of inflation even were accelerated in comparison with previous years. The Russian authorities for a failure explanation in struggle against inflation had to refer to actions of the forces lying outside of Russia constantly. First of all on growth of the world oil prices which not only have provided unprecedented growth of the Russian credit status, but also have flooded the country with petrodollars.
for indemnification of a rise in prices and demonstration of growth of well-being of the people of the power have resorted to the massed operation on increase of the average salary. Along with the official slogan of doubling of gross national product the informal slogan of doubling of the nominal average salary and its finishing to 25 thousand has been put forward Roubles a month. Increase of salaries has made the powerful contribution to a failure of all plans on inflation restraint.
growth of internal demand in the conditions of steady increase of incomes of citizens was reflected in absolutely improbable rates of increase of the prices for real estate across all Russia - first of all in Moscow. From - for this rise in prices the comprehensible habitation became obviously inaccessible to citizens (that badly correlated with the national project “ Accessible habitation “) .
the Fast increase in internal demand conducting to increase of profitableness of the enterprises, high rates of economic growth and grandiose growth of the world prices for oil have made the Russian share market extremely attractive to foreign investors. RTS index steadily dews, and it has served as a subject of special pride of the Russian authorities. In turn, the steady increase in exchange-value of rouble has made the Russian financial market very attractive to the foreign speculative capital - inflow of this capital even more promoted rouble strengthening. In the conditions of fast falling of a dollar exchange rate of the power could notice with satisfaction that the average salary of 25 thousand roubles promised to the Russian citizens grows in dollar expression directly in the face of.