When asked whether it is possible to speak of a lost decade for the Russian economy, Aven replied that "yes and no."
“On the one hand, there has been a fairly fundamental transformation of the economic model, the most obvious characteristic of which is inflation targeting.
As a result, inflation was suppressed in these years, this is generally a new reality, "he said in an interview with RBC.
According to him, in the context of suppressing inflation, all countries experienced temporary problems with economic growth.
He added that, therefore, one could expect that a slowdown in growth will occur in Russia.
“On the other hand, primarily due to the fact that we maintained a very low level of investment - about 20% of GDP for Russia, the figure is insufficient, - we did not ensure the economic growth that we wanted, we did not reduce our debt,” said Aven ...
He specified that since 2013, the total debt of Russian companies has remained at 60% of GDP.
“Of course, from the point of view of debt repayment in the conditions of low rates, which were the result of changes in financial policy, this is a bad result.
Lack of investment is a bad result.
And what is especially, perhaps, sad, from the point of view of changes in the business environment, we, in general, lost years: our share of the population's income from entrepreneurship is falling all the time, ”he added.
Aven stressed that these years can be called lost from the point of view of the development of the environment, from the point of view of investments and economic growth.
Earlier, the Central Bank announced a pause in economic recovery in the fourth quarter.
It is noted that the decline in GDP in 2020 may be about 4%.
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