Date: 6 months ago   Category: Economy

Kudrin saw danger in the transaction of Russia and OPEC


The transaction about reduction of volumes of oil production within OPEC will turn back decrease in rates of economic growth for Russia, the chairman of Audit Chamber Alexey Kudrin believes. Interfax reports about it.

the Agreement was reached on December 7. Within it members of OPEC agreed to reduce oil production in total by 800 thousand barrels a day, and partners of cartel, including Russia, - on 400 thousand (from which 200 thousand it is the share of the Russian Federation).

Kudrin emphasized that he always opposed similar "temporary solutions for price stabilization" as they reduce motivation for increase in productivity in spheres of production, processing and sale of hydrocarbons. the Head of the Audit Chamber also called

the main risks for the Russian economy.

"If to speak about calls of more short-term, is, of course, price of oil, these are sanctions, decrease in number of able-bodied population - at us remains a problem of a lack of human resources for economic growth", - Kudrin told.

according to him, a lack of human resources will have negative impact on economic growth the next 6 years. His official urged to compensate by means of increase in labor productivity.

Also it referred restriction of access to technologies and world financial resources (their Kudrin considers "rather situational") and also lack of structural reforms to risks, first of all reforms of a state administration. Besides, the chairman of Audit Chamber is sure that the serious risk for economy is born by low growth rates of real income of the population (about 1% in 2019). Kudrin also suggested to complement with

indicators of development of the country by the index of happiness. According to him, GDP loses the objectivity, and poverty, life expectancy, overcoming inequality and freedom of choice become the main indicators of development.

"As the economist I consider that we have to discuss, measure the level of happiness", - the chairman of the joint venture said.

the Index of happiness is considered one of GDP alternatives. It considers GDP per capita, the scale of social support in the country, the expected life expectancy, an opportunity to independently make important decisions, generosity and trust to business and the authorities. In the rating of the UN by the index of happiness Russia takes the 59th place from 156.

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