Russia get the new Government, changes in economic and social positions

RUSSIA ENERGY / FINANCE - In Brief 21 Jan 2020 by Marcel Salikhov
Today President V. Putin and new PM M. Mishustin announced the composition of the new Government. It's the most significant reshuffle of the Government in the last eight years. Some of the ministers are gone, and there are new faces. At the same time we note that most new ministers are relatively unknown to the general public. It's hard to say anything about them. The logic of the changes has also stayed unclear. We think that the new Government will mostly focus on the implementation of national projects. Social measures announced by the President will also be a top priority. At the same time, we do not think that there will be any significant changes in the fiscal policy stance.Finance minister Anton Siluanov lost his position as the First PM and is downgraded to the 'ordinary' minister. Former presidential aide A. Belousov is the new First PM responsible for economic policy. He is known for his dirigiste views and attempts to confiscate 500 bln RUB from the largest Russian companies (so called "Belousov list"). However, the attempt resulted in extra benefits for companies concerned. Mr. Belousov has previously worked in the Government in various positions, including the post of Economic Development minister. So he is a man of the System. Former Economy minister M. Oreshkin will take the position of Mr. Belousov as the Presidential aide. The new Economic Development minister is M. Reshetnikov, former economy minister of Moscow city and part of the Mayor Sobyanin's team. He worked as the governor of the Perm region in the last two years and is relatively unknown to the nation-wide audience. We note that all 'social' ministers are replaced which is an indication that P...

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