
On Thursday, March 16, a regular congress of the Russian Union of Industrialists and Entrepreneurs (RSPP) was held with the participation of President Vladimir Putin. Prior to this, the HEAD of state met with business on February 24, 2022, when a military special operation began in Ukraine. At the RSPP congress, they discussed the "unique situation" in the market due to the departure of foreigners from RUSSIA, the resumption of "sustainable growth" of domestic demand and lower inflation, as well as deoffshorization and a one-time contribution from companies' excess profits.
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About the state of the economy
“ The maximum decline in Russia's GDP last year was recorded in June - 4.7%. The reasons are known - it is the sanctions war, unprecedented challenges in the global economy and trade, in general in the system of international relations, and these problems, as you know, were not created by us,” the president listed. “Since then, starting in July, however, our economy has shifted to growth.” Domestic demand in Russia has entered “a trajectory of sustainable, long-term growth ,” he stressed: “It is adding domestic demand well. According to estimates, in April we will reach a retail turnover growth rate of at least 5%, and in real terms.” By the end of March 2023, inflation will be less than 4% , the president promised. According to him, this will be lower than in the eurozone countries, which "endlessly await the collapse of the Russian economy and try to convince themselves of this." “A year ago, Western authorities twisted the arms of their companies and forced some of them, many of them, to leave the Russian market. At that time, foreign analysts prophesied for us a depression and a decline in the consumer sector, they promised empty store shelves, a massive shortage of goods, the failure of the service sector,” Putin recalled. “However, life took a different direction. The Western countries themselves faced the same problems in full growth. It got to the point that their leaders are offering their citizens to switch to turnips instead of lettuce and tomatoes .” Russian Union of Industrialists and Entrepreneurs President Alexander Shokhin said that, despite record-breaking sanctions , Russia managed to ensure the "functioning of the economy" by maintaining the basic principles of economic policy: a market economy and fair competition. “There were no attempts to put everything on the rails of a mobilization economy or make chaotic decisions,” he said.About new niches for business and a one-time fee
The vacated niches due to the departure of some European and American companies from Russia began to be occupied by domestic companies. “Now there are even more opportunities, prospects for business development and expansion, and Russian business should not miss them, otherwise, it is not even an hour, and some departed companies will want to return. The situation is, without exaggeration, unique for many of our companies,” Putin said.The Ministry of Finance expects that the contribution rate from additional business profits for 2021-2022 will be about 5%, head of the department Anton Siluanov told reporters on the sidelines of the RSPP congress. According to him, in 2021, the volume of profits of companies amounted to 34 trillion rubles. against 14 trillion rubles. on average per year in 2018-2019. According to estimates, in 2022, the profit of the business amounted to 26 trillion rubles, the minister said. During his speech at the congress, Siluanov noted that the fee would affect only 0.1% of companies. These are the companies whose pre-tax profit in 2021–2022 amounted to at least RUB 1 billion.
About "friendly companies from unfriendly countries"
Commenting on the speech of an Italian entrepreneur at the RSPP congress, Putin allowed the restriction on the withdrawal of dividends from Russia to be relaxed . “I understand that this (the mechanism for blocking funds on accounts of type C.) to a certain extent limits the possibilities of our conscientious friends and partners who have worked, are working and want to work further. I agree with you that we must somehow correct our position,” he said. In particular, we can talk about the possibility of withdrawing, under certain conditions, part of the dividends received from participation in Russian companies. As for the president's proposal, the point is to more clearly establish the rules, said First Deputy Prime Minister Andrey Belousov. “We have investors and investments that entered Russia after the start of the special operationand after the imposition of sanctions. And for this kind of investment, we propose to significantly ease the restrictions that exist today,” Belousov said, pointing out that we are talking about investors from unfriendly countries. Putin, addressing the Italian businessman Matteo Valik who spoke earlier at the congress and commenting on the words of Belousov, then said: “You see where he is pushing you? What did he say now? Re-register and everything will be fine." The President said that the phrase "unfriendly countries" does not accurately reflect the existing realities , the words "unfriendly rulers" are more suitable for describing them. “The political system, unfortunately, is such in many countries of the world that it often lifts people with a rather low level of education and general culture to the top. They sometimes do not understand what they say and do. And the result, as you know, is obvious. Their work is detrimental to their own population and their own businesses,” he said. The head of the RSPP, Alexander Shokhin, then said that during the discussion of easing restrictions for non-residents with Belousov and presidential aide Maxim Oreshkin, a proposal arose to introduce the concept of “a friendly company from an unfriendly country . ”