Vladislav Inozemtsev is Director of the Centre of Post-Industrial Studies in Moscow and also Professor at the Higher School of Economics. Currently, he is a Visiting Fellow at the IWM.
In his presentation Prof. Inozemtsev explores the present state of Russian economy, analyzing its development from the beginning of Mr. Putin’s third presidential term. He argues that the economic policy introduced by the new old President is responsible for the latest problems much more than the decreasing oil price, the aggravation of foreign economic conditions and even the bilateral sanctions between Russia and the West due to the ongoing conflict in Ukraine. These days Russian economy suffers from fiscal and bureaucratic pressure on the busuiness community on the one side, and from a highly unprofessional regulation of the monetary sphere on behalf of the Central Bank authorities on the other. The recent devaluation of the rouble, the zero growth rate and the falling real income emerges from federal government policies rather than from Western sanctions. The speaker predicts a significant and prolonged recession in Russia which may likely last till 2016–17.