The annual St. Petersburg economic forum used to be a major gathering of investors and stakeholders, who would anticipate President Vladimir Putin’s keynote speech every year for hints about where to find the richest dividends in the Russian economy. This year, however, the traditional pomp was reduced and the potential margins of profit were barely visible. Moreover, Putin’s address was entirely devoid of any meaningful content. Many mainstream Russian economists, including former finance minister Alexei Kudrin, were ready to discuss the alarming prospects of the country’s deepening stagnation, arguing that it generates an imperative for far-reaching reforms (Rbc.ru, June 19). …read more
Source: The Jamestown Foundation