Center for Reforms may be set up in Russia to search for economic development ways

The Russian Presidential Administration and the government are discussing the establishment of the Center for Reforms which will be tasked to develop an economic model for effective operation under the impact of sanctions and the crisis, the newspaper Izvestia wrote on June 26.

The entity will engage ministers of the economic bloc and leading specialists in this area, a source in the government told Izvestia. The Presidential Administration confirmed the information.

A source in the Presidential Administration told the newspaper that the idea was being discussed and the probability of establishing the center was high.

"Originally the proposal to establish such a structure was put forward by Sberbank of Russia CEO German Gref. The issue was also highlighted on the platform of the Sberbank Corporate University, where leading international specialists on strategic planning held seminars for officials," the source remarked.

The source in the government told Izvestia that the idea was backed by Finance Minister Anton Siluanov. Speaking at the State Duma last week, the minister said that it was necessary to reset state programs and to determine efficient and realistic spending on each of them.

The sources told Izvestia that candidates to members of the Center for Reforms were also being discussed, among them Economic Development Minister Alexei Ulyukayev, Finance Minister Anton Siluanov, Serbank CEO German Gref, Central Bank Chairperson Elvira Nabiullina, and former Finance Minister Alexei Kudrin. It is possible that heads of major banks and corporations will join the Center as well. The entity will be created under the government and deal with reforming the existent economic model.

"We are facing a challenge: to develop the economy and, therefore, to improve the welfare of our citizens. The current approach to the economy cannot be regarded as one-piece, something is left from Gaidar, something has been contributed by Kudrin, and something has been added by others. It is necessary to create a clear model, a foundation and, in a later period, adjust it to ongoing global or domestic alternations," a senior official from the economic bloc of the government said.


Read more: Russia in full-fledged crisis - Kudrin

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