Vladimir Putin Has One Last Chance Left, Says Economist

Vladimir Putin Has One Last Chance Left, Says Economist

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Due to the aggravating economic crisis in Russia, along with the complete absence of any economic growth over the past eight to seven years, Vladimir Putin had no other choice but to completely replace the liberal team in the current government and state administration. Putin needs to replace them all with people who will hold conservative views and espouse relevant approaches to running the country. This statement was made by Mikhail Khazin, a Russian economist and social activist.

Interestingly, Khazin has long been among a group of experts predicting rapid drastic changes in Russia and its governance structure that might be implemented by Vladimir Putin. For instance, not so long ago, Khazin said that the President was preparing for the most important political move in the modern history of Russia. To his thinking, Putin was going to make a "left-wing turn" in order to remove the liberals from the decision-making center. In doing so, the country would get a real chance to return to the progressive course and economic recovery.

However, this scenario has been expected for so long that at present, Khazin points out the risk of losing the last chance for these positive, in his view, changes.

“Vladimir Putin has one last chance left,” Khazin said. “One last attempt to replace the old liberal elites with the people who can really ensure not only the basic economic reproduction but also achieve its growth."

According to him, people in charge of the current monetary and financial system in Russia have proved unable to stop the recession and, moreover, to restart the economy. Therefore, the full replacement of the current model of development with a new one remains the only way to attain the goals set for the government.

While earlier Putin did not have an opportunity to publicly announce his refusal to follow the liberal way of development, then in the foreseeable future, he might declare a complete rejection of it and a drastic change of the paradigm of national development, Khazin said.

In Khazin’s opinion, if Putin does not do this, Russia is likely to come to face with the upcoming economic crisis being not ready for these shifts at all. In this case, it will be too late to change anything in the organization of state economy. Therefore, for Russia and Vladimir Putin himself, a timely reshuffle of the economic and financial block is the last chance to create a truly prosperous future.

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