Vladimir Putin and Dmitry Medvedev have started the practical realization of two large power projects in Moscow. The Russian president and the Greek prime minister have agreed upon the long-term cooperation in oil pipeline Burgas – Alexandrupolis and gas pipeline South Stream construction. The Russian ruling party president candidate has taken part in the official putting into operation of South-Russian gas deposit ceremony.

They have got an access to Kurdistan oil deposits. This is for the first time after Saddam Hussein regime falling in Iraq that the company with the Russian investments has got an access to oil and gas resources of the country. The Kurdistan authorities have informed about the PSA agreement signing with Norbest Limited (that is close to TNK-BP). It is about the Russian company stockholders structure. The branch experts consider that the project prospect can warrant its high risks.

Russian GDP (Gross Domestic Product) growth totaled 7,6% in the 3Q of 2007. These data, published by Rosstat (Federal State Statistics Service), turned out to be much better than prior estimations by MEDT (Ministry of Economic Development and Trade) and analysts’ predictions. According to them, the problems in the world markets influenced the Russian economy less, than it had been supposed earlier. However, it would be possible to keep growth (provided by a rise of manufacturing industries, trade and construction) at a reached level not so long. The growth outsiders remain raw branches, education and public health services.

In the opinion of the majority of Japanese diplomats and businessmen, who work in Moscow, it is the “Japanese boom” in Russia now. One can agree or not, but it is obvious that the mutual interest to collaboration has increased. The conversion of the Russian economy into the innovative model of development requires expansion of business collaboration in the different spheres of economy, attracting new technologies and long-term investments, making the Russian market competitive for the foreign investors.

Russia overtakes China in the Goldman Sachs rating of growing economies for the first time. But the recipe for success has become not so much the Russian achievements, as indices decrease of the competitor. Goldman Sachs (GS) publishes the global index of growth conditions of Growth Environment Score since 2005, calculates it since 1997. The index is calculated on the basis of five groups of indices: macroeconomic stability, investment climate, human capital, political conditions, availability of modern technologies. Economic indicators are based on information of official statistics, political – on the estimations of World Bank, explains Raluka Dragushanu from GS.

By 2020 GDP would grow several times in Russia, and the country would be among the leading five on this index, promised Andrey Klepach, the director of macroeconomic prognostication general department of MEDT (Ministry of Economic Development and Trade Russia). By instructions of the president Putin and under the supervision of Klepach was developed the concept of long-term socio-economic development of Russia by 2020. The main emphasis is on innovative technologies that should, according to Klepach, fully modernize the macroeconomics of Russian Federation, without destroying its basic established principles.

There are four basic problems in the economy of Russia, impeding its development. They are corruption, inflation, pension plan deficit and infrastructural limitations of economy growth. To such conclusion came the authors of the program of social and economic development of Russia for 2008-2010 called “Second breath”. It is represented by Igor Nikolaev, the head of the authors’ group, the director of strategic analysis department of audit and consulting company FBK, and Evgeny Yasin, the research manager of State University of Higher School of Economics (HSE).

Growth rates of individual persons’ lending in Russia totaled 60% in 2007, reports the press-service of the Association of Russian Banks (ARB). At the Fourth Open International Bank Conference “Money transfers. Retail bank services” held in Yerevan, experts marked that possibilities of widening of this kind of bank services are not exhausted. The consumer lending is like a locomotive, “draws out” other retail structures.

The transformation of Ural was announced (process, but not the inter-regional political movement with the same name which played the considerable role in the country political life in the 90s of the last century, is meant).
The voluminous narration about the Middle Urals is begun by “the story about time and about oneself of one of the political long-livers of Russia — the governor of Sverdlovsk region Edward Rossel”.

Wine-makers and importers of wine can soon get free rein from USAIS. The wine market is expecting another relaxation of restrictions. Due to bill introduced to the State Duma it will be possible to play on the wine market according to the rules almost as simple as at the beer market.