Committee for Russian Economic Freedom

Moscow “Day of Anger” rally, March 21, 2010 (AFP)

Imagine if this weekend’s Restoring Honor rally wasn’t given permission to rally because the organizer was of an opposing political party then the one in power. Then imagine if DC police broke up the rally with nightsticks and tear gas. There’s no need to imagine this in Russia, because it is going on now.

Tomorrow will be the first March of Dissent protest in New York City. First organized by Russian opposition supporters on the last day of each month with 31 days in defense of their right to freedom of assembly as enshrined in Article 31 of the Russian Constitution, Marches of Dissent have sprung up globally in support of those who value and strive for Democratic values in Russia and elsewhere.

It is a Sisyphean task as Russian Prime Minister Vladimir Putin has effectively ended political debate in Russia through control of the media and refusal to grant official permission to rally for the political opposition. In an interview today in the newspaper Kommersant, Putin went on the record to say that those who choose to rally, “will be beaten upside the head with a truncheon. And that’s it.”

Come and watch history as Russian expatriates and Americans support Democratic values of freedom of assembly in front of the former KGB headquarters in Manhattan.

Logistics

Who: Supporters of Freedom of Assembly in Russia
What: First March of Dissent in New York City
Where: Permanent Mission of the Russian Federation to UN
136 E 67th Street, New York, NY 10065 (between Lexington & 3rd Aves)
When: Tuesday, August 31, 2010 from 6p to 730p
Why: To protect and advance the human rights and democratic values of Russian citizens and elsewhere in the world

A spate of recent articles have noted a 45% drop in foreign direct investment in Russia for the first six months of this year. Although the global economy has been challenging for all economies, China’s own FDI fell 35.7% through July of this year.

Cyprus leads with investment in Russia, but it is a well-known tax-advantaged locale for Russian businessmen. The other leading countries are Netherlands, Luxembourg and Germany.

Chris Weafer, a frequent Russian economics commentator and chief strategist at Uralsib, discounted a large portion of the cited FDI figure by saying “actual non-Russian sourced FDI is currently negligible.”

Record high temperatures and wildfires across the country have compounded Russia’s financial woes as analysts predict this year’s wheat harvest to be almost 20% lower than last year’s. Although agriculture consists of less than 5% of Russia’s GDP, grain became Russia’s top agricultural export in 2008 and remains an important component of the economy. Domestic grain have kept food prices in Russia low, even as its food imports exceed exports 3 to 1.

In Reuters’ most recent analysis of Russia geopolitical risk, there is little change from the last report as  “corruption and arbitrary rule of law” remain the biggest risks and its main impediment to growth. Higher oil prices would help with Russia budget deficit and lessen the need for tax hikes or reducing benefits.