Russia Details Plans to Bolster Its Economy, But Experts Scoff

With oil prices down more than 50 percent in the past year and still falling, the ruble having lost more than half its value, a recession looming and the country already dipping into its rainy-day funds, the Russian economy is in a race against time. But one would be hard pressed to grasp the depth of the troubles from the Kremlin`s prescriptions.

After the finance minister, Anton Siluanov, laid  out the government`s long-promised “anti-crisis” package in a live broadcast on state television last week, economists unanimously dismissed as inadequate his laundry list of half-measures and a vague promise of a 10 percent budget cut.

Wide array of business owners, economists and former senior government officials said in the interviews that they expected the Kremlin to react to the crisis the way it had in 2008, the last time it faced a precipitous decline in oil prices – with disaster management, but no fundamental changes.

In 2008, oil prices quickly rebounded, as the effects of the financial crisis began to fade. But this time is likely to be different, energy experts say, and it may take year for prices to reach former levels. Russia, they say is simply not prepared – or perhaps is unable – to take the measures needed to stimulate economic growth to make up for lost oil revenue.

About The Author

David Nataf started his career as co-founder of Net Development, a leading French web integrators, employing 80 people. After the merger of Net Development with Reef publisher, David joined the law firm, Jean-Pierre Millet, with the defense of computer attackers and victimes specialty ("hackers") in cases between different organizations such as NSA or other members of the international interception 'Echelon' network from the UKUSA treaty or the US Air Force. He is the author of several books on information warfare, consultant for the European Parliament as an expert in computer security (SSI) and electromagnetic signals intelligence (SIGINT). David Nataf successively launched several start-ups of the Internet in the field of paperless technologies termination of contracts online ("resilier.com"); online subscription to early stage fundraising foreshadowing the model will retain more later the platform "gust.com", or free roaming mobile operators (MVNO). Given his specialty at the cross road of anti computer crime legal advising, Internet technology, media and anti-propaganda operations, David has naturally become an actor's influence on the Web, working for a think-tank representing french defense and Aerospace. He is architecting crypto farms and masternodes for cryptocurrencies in Asia and Israel technological parks. He graduated in Law from the Faculty of Paris, is a passionate graduated gemologist by Gemological Institute of America "GG", Gemmological Association of Great Britain "Cert-Ga", practical daily triathlon.

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