Posts Tagged ‘VTB’
May 4th, 2016

Endangered Species of Business

Vladimir Putin. Photo by Alexey Druzhinin / "RIA Novosti"

Vladimir Putin. Photo by Alexey Druzhinin / “RIA Novosti”

During a recent meeting on the improvement of the government procurement system, Prime Minister Medvedev declared that it was imperative to involve small and medium-size businesses in this process. One month later, the Ministry of Economic Development came up with draft legislative amendments that are supposed to facilitate the conditions for participation in the process of government procurement for small-size enterprises by dispensing them from the required provision of collateral. It is as yet unclear whether this measure will be effective, since specialists already point to the insufficient and inaccurate character of the proposed changes.

Concern for small and medium-size businesses is one of the favorite topics for both Medvedev and Putin. However, despite the annoyingly regular promises of support, small companies continue to experience difficulties.

The share of small and medium-size enterprises in the country’s GDP is a key indicator of Russia’s economic health. According to official estimates, in Russia it amounts to 20 percent.  According to entrepreneurs themselves, however, it only reaches 3 percent. In comparison, in the United States, the share of small businesses in the country’s GDP amounts to around 60 percent, and in some European countries it reaches 80 percent.

In 2014, more than half of all small enterprises recorded a decrease in financial stability, and more than half of entrepreneurs declared that business conditions had deteriorated. Over the past year the tendency has not changed, >> Read more

February 24th, 2016

London Mirror of the Russian Economy

July 20th, 2011

Barclays looks to sell off Russian banking arm – at a £300+ million pound loss – while state-owned banks give themselves a bailout