In 2004 was created the Stabilization Fund,
and since 2007 it was introduced a three-year non-oil state budget that suddenly made the state budget deficit (previously, the budget was in surplus). The Stabilization Fund stockpiled oil and gas revenues (severance tax and customs duties). Part of these revenues by transfer back to the state budget , but the main part of the Stabilization Fund were spent on the purchase of U.S. 30-year bonds with an annual income (coupon) of only 2% , that is subsidized by the American and not the Russian economy , in dire need of investment .
Reason fails to understand why and what was implemented this Scam , why all branches of government approved it and allowed .
In 2008 the Stabilization Fund was divided into Reserve Fund and national welfare Fund (NWF). A significant portion of the Reserve Fund continues to be spent on two per cent coupon bonds of the United States , with the exception of 2009, when there was a short-term collapse of world oil prices .
It was assumed that the NWF was intended to increase pensions , social benefits, etc. But with the consent of the Kremlin and the Cabinet NWF began to plunder on some investment projects of state corporations and state-owned companies, after which these funds were sailed in an offshore jurisdiction . And people said that the investment projects are profitable, and with their help, the NWF will increase .
From January 2018 , the Reserve Fund was merged with FNB , but now is not called “Stabilization Fund” and the name “national welfare Fund”, but the functionality of it is preserved – feeding offshore . However , US bonds have stopped buying .
It served as a base for new krivokolenny reasoning.
So, at the end of 2017 , the same Alexei Kudrin said that the Retirement Fund is in dire need injections from the Federal budget that would reduce investment in the technological development of the country , which in turn necessitates raising the retirement Fund .
Actually, I surprise and amaze chain relationships in kutinaite, the tunnel vision of Alexei Kudrin as a financier. But the economy cannot live and especially to develop only through financial flows. By the way, the acting Minister of Finance Anton Siluanov, Kudrin as our modern economy just through the prism of Finance and carries out a purely fiscal policy through taxation and non-tax charges and levies on everything and everybody and above all with the population, citizens of our country.
Here we are mired in an amazing, purely Russian financial one-sided krivodanovka created living today Gaidar: Kudrin, Nabiullina, Gref, Siluanov, Chubais.
This krivodanovka skinned “last pants” from our citizens, realizing short-term interests and not thinking about the future of our country.
Named top officials and top managers, I think the personnel mistakes of the Kremlin and President Vladimir Putin.
I will end this article with the words of Viktor Gerashchenko , the present banker , financier and economist from the Soviet era :
“By the way, are now discussing, not whether to return to Kudrin ago ? Well , return Kudrin , if you want to continue to live in shit !”