and as foreigners and russians, we will pay in rubles, we will open all accounts. we will transfer ruble funds there and the investor investor at the current rate, the investor can come today tomorrow in six months, having received this money in foreign currency, they are converted into the currency at the rate at the time of transferring the money and we are ready to fulfill e, in this way. uh, our obligations. yes, we will be told to tell you that this is somewhat inconsistent. uh, those avenues and missions are not written that way, but in these conditions we are not dependent on us, we already we cannot fulfill. uh, those commission prospectus rules that we signed up to, because the western economy infrastructure is not working right now sanctions prohibitions, so we will do everything possible so that our investors who have invested

in our papers can have access to the resource. and absolutely without prejudice to them. uh, the ruble is converted into a currency is withdrawn from the country no prohibitions. wait, the course is not very good. i understand. but today, conditionally 56 to 57. and now there is a payment, we transferred at this rate in 3 month conditional figures, and people. uh, i would like to take it, and the rate of 70 for him at 70 will already buy dollars or buy them right away for him, so it’s not clear how it will happen here. we have investors. we understand the obligations of the currency. yes , we have to pay 100 dollars to a specific e, investor, and these 100 dollars. e, these 100 dollars will be listed in rubles at the current moment. uh, then the investor will receive when he comes to us for money in a month of dollars. he will receive, uh,

first ruble valents already. i will change the volume of the course, which will be at the time of his arrival, and he will receive his 100 dollars. well, then it’s a completely different matter, otherwise this question simply arises here. and as for sure, investors will have it. you can say that it will be an indexed component. that is, we will index for changes in the exchange rate of the ruble against the currency. does it matter where he goes? accordingly, lower will be even a plus for you. but it turns out then additional costs. it will be strong for me if the rate is now 60 and will be 70 in six months and conditionally the investor's confidence is important here. and the important thing is that we tried again we are a sheer borrower other countries you sanctions or we deal with ours we don't do that. we are constantly responsible, because for us there is trust. uh, very important, but yes, a reputation is earned for a very long time, it is lost very quickly, as it is known in western countries and has been earning

this reputation for centuries, and overnight, in fact, it has been tarnished very seriously. and anton gromovich. there is more here. the ruble exchange rate because here and today, uh colleagues, and in particular, andrey belousov spoke about that we need a course of 780, but we would like to. well, in a sense, how do you assess the current exchange rate, respectively, because many say that the exporter is bad for the budget. so know the exchange rate with us, the floating decorative rate is not set by the central bank. e does not participate in foreign exchange trading, so the exchange rate today is determined by large earnings from export supplies, hydrocarbons and large foreign exchange, respectively, incomes go to us. and imports due to restrictions, including logistical ones decreased 35-40 percent of the reduction in physical volume

imports, so the currency is a lot of demand. on her current conditions, all these sanctions are restrictions on the bank where there are foreign currency accounts, but who wants to keep uh their savings in dollars or legends, therefore there is no demand for currencies, so as soon as we are now and we now we see it is already starting slowly. imports are increasing, yet the rate is so favorable for importing goods, even despite all the problems absolutely yes, the streams will still go. and uh, so the volume of imports will be and how once we increase this increase, then the rate will be on its own. how to say recover before the value uh, anton georgievich well, let's talk a little more about the budget. oh, because everything was interesting after all. ah,

how balanced it will be. still, there is a fall in gdp, and there are different estimates. uh, someone says 8:10 from our departments, someone says less. as for the issue of inflation, these are also two such moments, first of all, you are waiting for us. you all the same, that inflation will be. this is how the government as a whole also expects 15% at the end of the year. that is now the trend is slowing down. yes, although the current one is higher. but what will happen to budget revenues, that is, there are, unfortunately, some factories that do not operate at full capacity. well and so on, and here is the problem, about which you said in the automotive sector and so, well, other sectors, that is, it takes time to save money to adapt, respectively, the failure of income. i feel it very seriously now. we now have such a no failure of income, we receive more income even than last year due to good. we are not on our energy system. we don't know whether it will continue like this. therefore, we need to

determine our budgetary possibilities based on these moderate conservative approaches. uh, forecasting the revenue side of the budget, primarily oil and gas oil, if earlier we only reacted to changes in prices for external market oil for gaz, now we should already look at our potential opportunities in terms of export volumes. u hydrocarbons, because you see that individual markets are closing, well others open. will the new markets allow us to compensate for the old ones? we will work in this direction and try, to the fullest extent possible. but today we spend all the income that comes from oil and gas and from the domestic economy on expenses. can you continue like this, considering that this is quite acceptable as a temporary phenomenon? but in order for us to continue building a uh,

balanced budget policy. we need certain levels of hedging, what is called in income to have, so we e in the amount of income from oil to gas, they must determine a certain average value, based on which it predicts. uh, our income and, accordingly, our expenses. that is, this is such a soft revival of the budget rule, which is now being discussed. i understand correctly, in principle, this will also be a budget rule. i always say that it’s better to live by the rules than without any files, because we lived without rules and we’re constantly sorry, now one way, then the other, it’s good when incomes grow. and when they fall, what is it, uh, budget gap sequestration contract reduction obligations. er, well, it's not so long term business forecasting, where let's say business cycles are long. these are total nightmares. this is how he understands business, that he will not be left without money. you can deposits. we need to build turbines there, relatively speaking, or something like that. we

need to have a budget planning horizon, when it will be ready , the ministry of finance already knows. you need to discuss it with the government. yes, and that is, somewhere by the autumn it will be clear and the parameters of the budget will be clear by the autumn hearings in the state duma. right, understand? absolutely we must prepare. uh, the budget for the next three years is already within the limits. uh, the principles of budgetary policy. you know, maybe an incorrect question, nevertheless, some ranges. you can now call inflation, which are based on the ruble exchange rate, what is usually done in the budget or until batman you know the ruble exchange rate is still thankless. eh? plan features. uh, it means that we accept floating rubles. well, in general, inflation, respectively , what is inflation is an expense income concept. already the deficit will not be according to your estimates. i can say that we will strive to reduce the rate of

inflation. uh, target 4%, well i think he's closer to 24-25. gradually, we will, uh, mean to reduce the cost of inflation, inflation, that inflation is such a tax on uh, on ours on the salaries of our people, this is a fact. that's why, the smaller it is, the better for the citizens for the economy, because the cost of the loan is also cheaper. thank you very much. and i hope that kostya will not be more . the situation with the budget will be clear. if opportunity, we will definitely talk about it with you. in the meantime, thank you very much. all the best. i'm sure, maybe in a new way, so for sure it's like a chipboard peel that works comfortably and safely. fast payment system new method

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in the smallest corner of russia is a bank where you at any age nine and any inhabitant of the galaxy can become clients of this bank, that’s what the largest bank post bank is. so, on our site at the st. petersburg international economic forum, another guest is the president of the russian union of industrialists and entrepreneurs alexander shokin alexander nikolayevich hello, the government has taken some unprecedented number of different measures. business support in recent months. well, there are polls that up to half of them are not in demand by this very business, what do you think, how objective are these estimates and really.

what measures, uh, nevertheless turned out to be in demand and what measures turned out to be the most effective. to give credit to the government, it is operational. uh takes action once a week government commission to ensure the sustainable development of the economy. led by the prime minister. such decisions are made by uh, there is a subcommittee, including including under the commission of andrey belousov who often works. e. business does not often work with business on an ongoing basis and we transmit our proposals, both in live communication mode, and rent them out. what is called in digital e-format on a specially created platform where proposals are collected by business and in this sense it cannot be said that e-government, as they say, is working past the goal yes, it is idle why because the situation is changing quite quickly and our task

of business association is including, uh, to monitor the effectiveness of measures and to correct them, to propose new measures , to slow down those that do not produce effects, this is normal work. and, well, let me give you an example. e, there for 2 whole months in march, april, many companies, members of the rspp, other businesses, associations tried to enter the list of the system forming enterprises. benefits received by companies that were included in this list, and this is almost 3,000 companies as a result, they counted on soft loans to replenish working capital. uh, the rate was 20% key and concessional credit vice versa. it's been 11 to 14%, well, from the end of april until now. central bank. three times, lowered the key rate key rate. now 9.5%. it is clear that now

the request for a discount on working capital lending is from 11 to 14%. it will disappear quite a lot of such examples, when what was in demand 2-3 months ago is now becoming due to the fact that some measures have worked. uh, some action. well , let's say they wear it. well, let's just say it's a minor character. eh, correction. here are these e. programs support is inevitable. and by the way, to mention the fact that the government is ready to listen to the business here and make some adjustments based on the results of the monitoring. in my opinion, it does, uh, honor the government and increases efficiency. the implementation of these support programs is, in your opinion. action needs to be taken in the next step. you know, even our monitoring surveys

show that both as a result of covid-19, support programs and as a result of the current anti-crisis counter- sensational programs. most requested - it's not even benefits in the form of interest rate subsidies and so on. the most requested support measures related to administrative emers. like, for example, uh, moratorium on checking how the transfer works? since , for example, the introduction of a moratorium on the payment of fines, for example, a moratorium on the payment of fines related to the violation of currency legislation, which is difficult not to violate modern conditions, since foreign banks do not fulfill the instructions of the bank's client and not due to bad faith behavior, and due to russian e legal entities from all the bad faith of western partners of banks, including e, the law

is violated and these delays. uh, paying insurance premiums deferring the payment of certain taxes and uh, say a moratorium on penal checks and so on are the most sought-after measures, because they create such an opportunity for restructuring the smooth restructuring of the company, searching for new suppliers, searching for new models, financial functioning . so uh not denying the importance direct forms. eh, subsidizing support, we are still, so to speak, for the third year we have been observing this picture, relatively speaking, do not interfere with our work. you look. we can handle it ourselves. well, i 'm talking about the next stage, that is, in your opinion. if i understand correctly, it is necessary to continue this work, you know, in particular, in particular, in particular, to those oratories that are found, we ourselves asked how the business hangs until december 31 of this

year. and now for the autumn time. uh period. we need some kind of legislative solution on permanent basis to take now we have as it were . uh, some kind of respite, so to speak, when these moratorium deferrals are introduced, but during this time we must, together with the government, develop business support programs for the next stage, which is 23. and, maybe. that is, there may be some moratoriums that will be valid for several years. no, i still will have a moratorium until the end of the year, and then something needs to be abandoned, that is, not a moratorium to be introduced on a permanent basis, but simply to change the legislation thus, in order to save business, for example, from some form of pressure, well, in particular, it is necessary to change the criminal procedural legislation. uh, the business is still under such a pretty tight scrutiny, of course. may be

overkill by tough law enforcement. and we need to do more than just liberalize. this legislation absolves the liability of those who do business in bad faith and violate the laws. and those who uh do. this is to put it mildly, uh out of ignorance by uh, mistakes and so on and the mistake is ready to correct and here is such an idea, the criminalization of a number of compositions of the criminal code, firstly secondly, the maintenance of procedural rules that well, do not destroy business, well, in particular, do not lead to the arrest of entrepreneurs until a court decision, and so on, by the way, say we have succeeded in a number of areas in the crisis. this is the time. uh, the last months to accept, the decision of which 10 years have sought an example. uh, now uh, thanks to the deputies, including, uh, that they sort of quickly carried out, this is a decision on tax crimes. uh, criminal charges are filed against them

cases and be referred to the court can only by decision of the tax authorities earlier and the investigating authorities. they could do these things themselves. a and. uh, that's the kind of pre-sexual norm. e. well, at least we can make a proposal on many of them, if they are accepted, these are more rational procedural rules. uh, in criminal. e criminal farewell legislation will allow businesses to be freed from excessive pressure, which in modern conditions is certainly very, very important. well, for sure, there are consultations with representatives of there will be reflections. this is how those who have been waiting for more than one year have already been accepted, you know, the main thing, i think that many of them will be accepted, but here it is very important not to allow the adoption of certain initiatives of deputies that will aggravate the situation. well, in particular, it is good that e has not yet been adopted in the first reading. uh, the law on

criminal liability for compliance with sanctions , we think it is very harmful uh, a bill that actually allows not only foreign companies that are forced to leave russia or suspend activities for any russian companies that comply with sanctions or do not want to fall under secondary ones. including sanctions, it is possible to deprive any manager and owner of freedom for 5 years, to put it mildly. and we believe that here, uh, it is better not to pass this law. but, if suddenly his deputies will accept in the first reading. we know how from it. that is, they will make a candy, but at least, they will do it through amendments so that it will not be of a harmful nature for russian, primarily business, or, let's say the draft law on external management, which for a long time was called the law on nationalization, thank

god thanks to, including the position of business associations, managed to correct it, uh, so that it was introduced. eh, even in the first reading, well, to a bavarim form, but even that one still needs to not only polish it, but chop off some sharp corners. and it is very important for us that these new patriotic initiatives in quotation marks and deputies and federal authorities, so that they do not destroy business. and secondly, we really need the current legislation make it more professional. well, by the way, to say this also applies to tax legislation , really serious e-ambassadors are needed. and at least, an adjustment to the tax legislation that is in force now and was adopted last prosperous year, but in particular, this is a classic example. ndpi taxes were introduced for exporters metal mineral fertilizers. uh, and we

think that uh some of them need to uh either cancel or adjust. well, in particular, the same, uh, tax uh, liquid steel excise is in fact, science from the very beginning raised a lot of questions, but now it certainly needs to be canceled and we expect that president putin, including , from the rostrum of the plenary time and weakening of the press. uh, administrative law. not only will he speak to business, but he will also propose specific mechanisms for how to do this, the prime minister said the other day, uh. about economic sovereignty. uh, how does the business feel about this idea, is it ready connect to its implementation? or technological

sometimes, too, this term is used sovereignty, it's not, uh, the production of everything. uh, inside russia without our foreign partners. well, any country is looking for a certain niche in the global division of labor. and uh, even world trade is an outward economic activity that rests on the fact that you have some kind of competitive advantage. and you recognize competitive advantages. it is another matter for partners that the emergence of a large number of unfriendly countries. uh narrows the scope for russia's involvement. here's the these global value chains. we need our own train of friendly states, which is unconditional. uh drastically increases. uh, the need for this technological sovereignty is that we will stop using it. uh, partnerships of some kind . uh, with partners such as

china in east asia and so on, we are talking about the fact that we must have competence. if necessary, quickly expand our own production. this also requires a fundamental science to support and experienced design developments from and work out. uh. well, such effective schemes for the commercialization of these scientific achievements. but it's all about money. this needs money to be financed even at the current rate in general, if we talk about the rate. uh, what level of the rate for uh, industrialists and entrepreneurs of russia would be, but the most acceptable. well, you know, for the school it is so philosophical in practice, but if you mean that we already have a number of mechanisms to support high-tech projects. in number along the line. industrial development fund of other development institutions from one to three

percent, if it comes, including high-tech products requiring scientific research or up to 6% for more mass industrial production, but it is clear that the central bank is now supporting the rate of our industry and economy do not forget about the rate of inflation. but i think that now the main thing is to support the industry and, if we talk about returning to concessional lending formulas, then even with nine and a half percent of the key rates should be given benefits, withdrawing certain e -projects. uh, at a level somewhere from 3 to 6% per annum alexander nikolayevich thank you very much for the interview. let me remind you that in our studio there was, uh, the president of the russian union of industrialists and entrepreneur alexander shopin, now we will continue a short advertisement. always wondering where it all

starts? now everyone will see the producers of good things they want and most importantly, but it is best to check.

well, why are we continuing to work here in st. petersburg on the site of the 25th anniversary st. petersburg international economic forum and now on our air is an interview with the minister of justice. it is big, let's start with questions of the nature of security today, one session, just the same , is also dedicated to tigran well, of course, this year we also know there will be a big tiger ourselves. this is how we are working towards this, and what issues are planned to be discussed today. but today

we're going to be discussing the topic of, uh, relationships between businesses and non-profit organizations that are involved in conservation. well, actually , the subject, whose activities are exactly this direction. that is, we will deliberately announce certain initiatives, which we will discuss in the future at the legal forum. well, as for the results of the work, they are there, we conducted a tiger census this year. unfortunately, i cannot announce the result, because this will be done by the ministry of natural resources. and our organization was the main executor, but nonetheless. yes, uh, we have a clear understanding that the tigers, uh, are doing well. eh, there are more of them. eh, but concrete results once again say the minister of natural resources in the near future. probably,

maybe at the summit, uh, announce hmm well, the main problems that we managed to solve are, first of all, the decrease in uh poaching. if earlier we talked about the fact that about 570 tigers were killed per year. that is, now, according to expert estimates , we have a figure of 15 20 individuals per year die from poachers. this is probably our main achievement, because really now, uh, the tiger lives quite calmly in the taiga, but, however. still, threats still exist. uh. we continue to engage in infrastructure projects, we hope that we will be able to open something ourselves. uh, a new complex in khabarovsk and for hunting supervision. it will also be an office space. uh, a garage space corresponding to workshops, well,

that is, everything that is necessary for, uh, the khabarovsk okhotnodzor to work as efficiently as the primorsky okhotnodzor. we keep equipping. uh, hunting grounds are the habitat of the amur tiger equipment and special-armed clothing. here. well, actually, they certainly do not forget. eh, the solution of greasy issues is also supported by the small and small people. this is among the adyghe people who live. uh, on site. uh village, krasnaya yar directly located near us bikin park here. well, actually in the direction of our traditional work. e. here we will continue. this is a noble cause. we really enjoy doing this. but if we talk about business, how much is it involved today and is ready to solve the issues involved, and i immediately i would like to say thank you to the business that participates in our projects, because in our

box office. no, not a single budget ruble in everything we do. we do this at the expense of uh, donations are primarily a business. e already legal very soon there will be a legal forum. here in st. petersburg, it will really take place from june 29 to 1 and 29 to july 1. uh, the tenth anniversary legal forum. it will be held in full-time format. u on hmm we have a discussion. uh, this agenda is very large. e today. we have about 80 panels and round tables. well, an event of a new format on various topics. this is, so to speak, everything that is connected with a change in the international order. e with

changing e values. in general, which should be embodied in law. e. by the way, those are the topic of the plenary session with us, eh! law in a multipolar world and the topic is already the event itself, so to speak, of the e-forum itself. it sounds exactly like that . stay right. well, we hope that there will be very interesting discussions, the interests are quite high. moreover, i would say that interest is shown not only purely lawyers, yes, but also media people who, in general, well, recognizable, well, i think that i will not announce. you will see all this, so i hope it will be interesting. and by the way, i would like to say that we will also have quite a lot of international guests today . we already have confirmation from eight ministers of justice. uh, other states. this is generally pretty good.