“The official forecast for Russia should be made by the Ministry of Economic Development,” said Sergei Guriyev. “But if you visit their website, you will see that no forecasts have been published there recently.”
We continue publishing a series of investigations about the channels for withdrawing profits from PJSC Togliattiazot, one of the largest industrial enterprises in the Samara Region.
According to Maxim Mironov, professor of finance at IE Business School in Madrid, greed of the government is the main problem in Russia. Apparently, the officials are reluctant to use the finances accumulated in the Stabilization Fund.
Making products that are always in demand all over the world – ammonia and urea, Togliattiazot is one of the largest enterprises in the Samara region. The situation in which the plant found itself looks even more puzzling – its name is more and more often mentioned either in connection with criminal chronicle or with emergency incidents.
It is surprising how often the efforts that the federal authorities make to restore order in any sector are undermined by corruption, incompetence, and slovenliness of top regional executives.
Yulia Spivakova, an official spokesperson of the Russian flag carrier Aeroflot, has told Rossiya-24 TV Channel about the approximate dates of resumption of international air traffic.
Following the information about the Prime Minister’s expected recovery, the scandalously famous bookmaker Fonbet refused to accept state support thereby making a gift to Mikhail Mishustin. “We don’t need financial assistance from the state now,” the company proudly stated, as if not noticing that it had already been removed from the list of those who need it.
In the future, there will be the so-called “carriers’ phase:” people continue to get infected but most of them will be asymptomatic. However, people from risk groups will be still affected – this refers to those who have an enfeebled immune system or chronic diseases.
Will the Russian economy be able to survive the next month of “non-working days”? Will the ordinary Russians’ salaries and the overall financial situation remain stable if one takes into account, for instance, the current exchange-rate volatility?
Ekaterina Kosareva added that not only oil prices but also the key rate decision of the Central Bank of Russia may affect the ruble exchange rate in the short term.
Earlier, the experts of the Higher School of Economics (HSE) made public their predictions for a surge of unemployment in Russia which may be triggered by COVID-19 epidemic. They noted that this year, the unemployment rate may approach the level of 8%.
According to the official website of the Cabinet of Ministers, people will get the refunds on their trips cancelled due to the coronavirus outbreak. As planned, the money for this purpose will be taken from the tour operators’ funds of personal responsibility.
It is noteworthy that Pobeda, the low cost subsidiary of Aeroflot, cancelled its flights as of April 1. The airline’s representatives say that there is a plan to resume flights in early summer.
According to the Moskovskij Komsomolets daily, the bulletin “What Do the Trends Tell Us About?” issued by the department for research and forecasting of the Central Bank of Russia (CBR), says that there might be a second wave of the coronavirus disease.
The police of Volgograd, an industrial city on the western bank of the Volga River known historically as Stalingrad, are trying to turn the files of the pre-prosecutorial inspection of business operations by Yuriy Dergachev, CEO of EcoTechService, into a criminal case regarding large-scale fraud, probably committed by a group of people.