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The Political And Economic Results Of January 2014

Author

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  • Sergey Zhavoronkov

    (Gaidar Institute for Economic Policy)

Abstract

Although January 2014 saw few politically or economically significant events, it certainly witnessed an upsurge of debates on economic issues. Thus, top government officials, including Prime Minister Dmitry Medvedev, expressed their somewhat conflicting views on Russia’s economic policy at the 5th Gaidar Forum. Their assessments of the current state of the Russian economy were rather pessimistic. In January, the ruble was devalued for a second time in half a year; its exchange rate against the dollar dropped to 35 rubles per dollar. Apparently, Russia’s authorities still cherish the hope that the ruble’s gradual devaluation will revitalize the state budget and make it deficit- free, as well as simultaneously increase the competiveness of the Russian economy. Despite the mounting economic problems, Russia cavalierly agreed to extend a $ 10bn line of credit to Hungary to finance construction of two new power units of the Paks nuclear power plant.

Suggested Citation

  • Sergey Zhavoronkov, 2014. "The Political And Economic Results Of January 2014," Russian Economic Development, Gaidar Institute for Economic Policy, issue 2, pages 5-7, January.
    • Handle: RePEc:gai:recdev:294
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    More about this item

    Keywords

    THE POLITICAL AND ECONOMIC RESULTS;

    JEL classification:

    • K0 - Law and Economics - - General
    • K1 - Law and Economics - - Basic Areas of Law
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions

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