We have money, but we can’t spend it: Russia is drowning in money

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 Moreover, even if the funds are allocated, in most cases they are withdrawn due to the fact that the work planned on the ground does not begin.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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5 comments
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  1. Rinat Offline
    Rinat (Rinat) 13 September 2019 14: 44
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    I think that the reason is that in the places where the funds are sent, they simply have not yet developed a scheme for dribbling, theft, and such a lot of money.
    1. Bitter Offline
      Bitter (Gleb) 14 September 2019 00: 50
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      ... ready to allocate funds for the development of regions, but only after the provision of the latter ...

      1. Rollbacks on the necessary vertical.
      2. There are no effective specialists in the field who are able to competently organize spending through paragraph 1.

      As a result, the money is returned to the National Welfare Fund, and then, the whole procedure described above starts over.

      A vicious circle of some kind. bully
      Skepticism, reaching the point of absurdity. recourse
  2. Sapsan136 Offline
    Sapsan136 (Sapsan136) 13 September 2019 18: 28
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    You don’t know how, don’t want to be able to ... resign ... We don’t need to sleep in the State Duma for 350000 rubles a month, play computer games there and sing Murka ...
  3. SANDRO Offline
    SANDRO (Sandro) 14 September 2019 16: 48
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    If you have nowhere to go, then you can transfer them to treat children! Almost daily, in the news on NTV, they announce some unfortunate family that does not have funds for treating a child, which can only be made in the USA, Japan, Germany, Switzerland, in a word, in a country with advanced medicine! And if you stop feeding Syria, Venezuela, as well as Hamas, Hezbollah and other groups fighting against Israel, you can solve many more social problems !!!
  4. xilia72 Offline
    xilia72 (xantos) 22 September 2019 17: 04
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    Because the “National Welfare Fund”, as Katasonov says, is a welfare fund of Western countries.