This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/russia/514481-five-year-plans-covid/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Back to the USSR? Five-year plans are the way to recover Russia’s GDP after Covid-19, economists say | Back to the USSR? Five-year plans are the way to recover Russia’s GDP after Covid-19, economists say |
| (about 1 month later) | |
| Three academics from the Russian Academy of Sciences have proposed returning the country to the Soviet-style five-year economic plan system as a means of combating the Covid-19 related downturn. | Three academics from the Russian Academy of Sciences have proposed returning the country to the Soviet-style five-year economic plan system as a means of combating the Covid-19 related downturn. |
| In a report analyzed by Moscow business daily Vedomosti, Abel Aganbegyan, Boris Porfiriev and Alexander Shirov proposed several reforms to stimulate GDP growth of up to 3-4 percent a year. | In a report analyzed by Moscow business daily Vedomosti, Abel Aganbegyan, Boris Porfiriev and Alexander Shirov proposed several reforms to stimulate GDP growth of up to 3-4 percent a year. |
| According to the newspaper, the suggestions include returning to five-year planning for socio-economic development and raising funds by using banks' assets and the savings of businesses and citizens – not just the Russian National Wealth Fund. The academics also propose extra government borrowing and mass privatization. | According to the newspaper, the suggestions include returning to five-year planning for socio-economic development and raising funds by using banks' assets and the savings of businesses and citizens – not just the Russian National Wealth Fund. The academics also propose extra government borrowing and mass privatization. |
| By raising more money, the economists suggest that the minimum wage, unemployment benefits and pensions can all be increased. They also proposed removing all income tax from low earners and introducing a progressive system, similar to that seen in much of Europe, including France, Germany and the United Kingdom. | By raising more money, the economists suggest that the minimum wage, unemployment benefits and pensions can all be increased. They also proposed removing all income tax from low earners and introducing a progressive system, similar to that seen in much of Europe, including France, Germany and the United Kingdom. |
| During the Soviet Union, a state committee came up with economic plans every five years, each time focusing on the day's current issues. The last five-year plan was implemented in 1991 and wasn’t completed due to the fall of the USSR. | During the Soviet Union, a state committee came up with economic plans every five years, each time focusing on the day's current issues. The last five-year plan was implemented in 1991 and wasn’t completed due to the fall of the USSR. |
| Estimates recently released by government statistics service Rosstat revealed that Russia's GDP decreased by an estimated 3.1 percent in 2020, owing to both Covid-19 related shutdowns and a fall in global energy prices. | Estimates recently released by government statistics service Rosstat revealed that Russia's GDP decreased by an estimated 3.1 percent in 2020, owing to both Covid-19 related shutdowns and a fall in global energy prices. |
| In January, Prime Minister Mikhail Mishustin revealed that the country's authorities expect the economy to grow in 2021. | In January, Prime Minister Mikhail Mishustin revealed that the country's authorities expect the economy to grow in 2021. |
| “After contraction in the second quarter, it is recovering gradually, and we plan to be positive and reach sustainable growth by the end of this year,” he said. | “After contraction in the second quarter, it is recovering gradually, and we plan to be positive and reach sustainable growth by the end of this year,” he said. |
| If you like this story, share it with a friend! | If you like this story, share it with a friend! |