Russia's financial reserves show record growth. Based on data for July of this year, the "National Welfare Fund" doubled, reaching a fantastic 124 billion dollars. In other words, Russia is "bursting with money."
So what does the phrase of the Prime Minister of the Russian Federation, D. Medvedev, “There is no money, but you hold on” mean, already become a winged one? Why huge amounts of money are “dead weight”, but for development economics lacks? There are several reasons for this.
Firstly, reserves are the main “insurance” in the event of a crisis. In 2008, such savings have already saved Russia. Secondly, the authorities are afraid of inflation, the level of which will inevitably increase after large injections into the economy.
However, the main obstacle, however paradoxical it may sound, was our "inability to spend." The thing is that the Federal Center is ready to allocate funds for the development of the regions, but only after the latter has provided the investment project and all the necessary documentation.
Sadly, the preparation of the aforementioned papers becomes an "insurmountable obstacle" for local authorities. Moreover, even if the funds are allocated, in most cases they are withdrawn due to the fact that the work planned on the ground does not begin. As a result, the money is returned to the National Welfare Fund, and then, the whole procedure described above starts over.
But there is a way. This problem prompted the authorities to launch accelerated selection and training for regional management. Will it succeed or not - time will tell, but, unfortunately, it is already "running out".
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