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Finnish Innovation Fund “SITRA”
FORUM FOR DEVELOPMENT OF
ECONOMIC PARTNERSHIP BETWEEN
FINLAND REPUBLIC AND RUSSIAN FEDERATION
PROSPECTS OF RUSSIAN ECONOMIC DEVELOPMENT
November 15th 2007, Helsinki
Elvira NABIULLINA
Minister for Economic Development and Trade
of the Russian Federation
Average annual growth (%)
(forecast)
GDP
Fixed capital
Investment
2001-2005
2006-2010
6,1
6,3
9,9
12
Russian macroeconomic trends in 2007
Key macroeconomic indicators
2006 г.
January –
September
2007 г.
January –
September
GDP, %
6,3
7,4
Fixed capital investment, %
11,8
21,2
Industrial output index, %
4,2
6,6
Real wages , %
10,6
16,2
Inflation
7,2
7,5
266,2
425,4
1 894,09
70,73
3 519,09
141,05
Gold/exchange currency reserves
bln. USD
Stabilization Fund ( 01.10.2007)
bln. rubles
bln. USD
Russian macroeconomic situation is stable
Key macroeconomic indicators (%)
*
2003
2004
2005
2006
JanSept
2007
GDP
7.3
7.2
6.4
6.8
7.4
7.3
CPI
12.0
11.7
10.9
9.0
7.5
8.0
Industrial output
8.9
8.3
4
4.4
6.6
7.4
Fixed capital investment
12.5
13.7
10.9
13.7
21.2
18.2
Real wages
10.9
10.6
12.6
14.3
12.4
15.6
Retail trade turnover
8.8
13.3
12.8
13.9
14.8
14.5
MEDT estimations
2007*
Strategic directions of long-term conception of social and
economic development of Russia
• guaranteeing the use of Russian global competition advantages
in energy, transport and agriculture
• creating strong scientific and technical complex
• structural diversification of economy
• development of democracy and guaranteeing of personal rights
and freedoms, creation of economic and social conditions for
realization of personal creative potential
Investment (bln USD)
8
6
4
2
0
2005
2006
inflow investment
first half of 2007
outflow investment
6
General Data on SME
in Russian Federation

Total quantity of SME – 1635.5 (increase by 15% as
compared with the year of 2006) or about 50% of total number
of enterprises in Russia;
 Number of employees – 10,355.4 thousand (800 thousand
more than in 2006) or 25% of all employed in Russia;
 Investments in the fixed capital totaled 42.2 billion rubles
(35% more than in the year of 2006);
 Contribution of SME to GDP totals 15-17%.
7
Main directions of state support of
SME
 Financial support, assistance in receiving loans and credits
 Providing federal and municipal facilities lease on preferential
terms
 Government procurement
 Information and consultanting support
 Creation of business incubators and technoparks
8
Institutes of development
In the Russian Federation
Financial institutes of development
Created:
In the process of creation:
• Investment fund
• State corporation “Bank of
Development and External Economic
Activities (Vnesheconombank)”
• «Russian Venture Company»
• «Agency of Mortgage Crediting»
• «Russian Investment Fund of
ICT»
• «Russian Nanotechnologies
Corporation»
• «Fund for Support of Housing
and Communal Service Reform»
Institutes of development
Non-financial institutes of development
 special economic zones (techno-promotional,
industrial-manufacturing, tourist-recreational, port)
 technoparks, industrial zones, «business
incubators»
 centers for technology transfer, subcontracting,
design, energy saving
10
Thank you for your attention!
Elvira NABIULLINA
Minister for Economic Development and Trade
of the Russian Federation