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ID: /oLnNMfO/pol/508103176#508103448
6/20/2025, 6:22:42 PM
>>508103176
https://x.com/Gerashchenko_en/status/1936040638501327201
Other opinions voiced at the St. Petersburg International Economic Forum:
▪ "The state may not have enough money."
The head of the Duma's Budget Committee Andrey Makarov warned that Russia could follow the same path as the USSR:
"I must inform you that the needs of the working people will continue to grow constantly. But the state may not have enough money to meet those ever-increasing needs. Socialism collapsed simply because it failed to fulfill its fundamental economic law. And we haven't even written our own fundamental economic laws yet," Makarov said.
According to Makarov, solving problems without state involvement is impossible — but there is also no room for endlessly increasing budget spending. According to the Ministry of Finance, the liquid assets of the National Welfare Fund, which have been used to cover budget deficits and fund megaprojects, have shrunk threefold since the beginning of the war — to 2.8 trillion rubles. Estimates by the RANEPA suggest that this reserve could be completely depleted by 2026.
"The state cannot finance everything indefinitely. National projects are expanding in terms of funding, but government expenditures cannot keep growing forever. Unless we involve private business in this mechanism, the system simply won't take off," Makarov added.
However, business participation in national projects — on which the state is pinning its hopes for accelerated economic growth, technological breakthroughs, and solving demographic challenges — is virtually nonexistent. This, Makarov noted, is a consequence of dysfunctional institutions, particularly the institution of private property protection. He hinted at the wave of nationalizations affecting companies worth more than 2 trillion rubles.
>part 1
https://x.com/Gerashchenko_en/status/1936040638501327201
Other opinions voiced at the St. Petersburg International Economic Forum:
▪ "The state may not have enough money."
The head of the Duma's Budget Committee Andrey Makarov warned that Russia could follow the same path as the USSR:
"I must inform you that the needs of the working people will continue to grow constantly. But the state may not have enough money to meet those ever-increasing needs. Socialism collapsed simply because it failed to fulfill its fundamental economic law. And we haven't even written our own fundamental economic laws yet," Makarov said.
According to Makarov, solving problems without state involvement is impossible — but there is also no room for endlessly increasing budget spending. According to the Ministry of Finance, the liquid assets of the National Welfare Fund, which have been used to cover budget deficits and fund megaprojects, have shrunk threefold since the beginning of the war — to 2.8 trillion rubles. Estimates by the RANEPA suggest that this reserve could be completely depleted by 2026.
"The state cannot finance everything indefinitely. National projects are expanding in terms of funding, but government expenditures cannot keep growing forever. Unless we involve private business in this mechanism, the system simply won't take off," Makarov added.
However, business participation in national projects — on which the state is pinning its hopes for accelerated economic growth, technological breakthroughs, and solving demographic challenges — is virtually nonexistent. This, Makarov noted, is a consequence of dysfunctional institutions, particularly the institution of private property protection. He hinted at the wave of nationalizations affecting companies worth more than 2 trillion rubles.
>part 1
Page 1