no problem, so here is the opinion of all bankers. i'm sure you understand, well, the regulator is right in its own way. everyone has their own truth. we need to look for some kind of compromise, a middle ground, perhaps a compromise. andrey lenivich, at the end of our conversation, i would like to return to what the president said. we certainly now delved into the details of the banking business. it is extremely important, because, to be clear, without a healthy system, all the tasks that the president has set are impossible to accomplish. it's understandable, so i think that that's what you said, it's extremely important for you to find this compromise, but all the problems that our clients had. they did not come from the russian sector. they were external external. they are created by external factors. this is very important, yes, and adrianovich. and i only wish you and your colleagues in other banks to resolve all these issues. we all depend on you, and like all other citizens. thank you thank you for taking the time and answering our question. boris yuryevich

hello well, of course, the main event today is the speech of the president and after he first here are the six main points that we all have to do and the economy of our e, the second point is the freedom of enterprise. you are entrepreneurs yourself. you defend the rights of entrepreneurs, and of course this problem, which is very acute, you recently met with the president on the air. that's just what led russia 24 at that moment, uh, and uh, of course this problem is old. it did not appear yesterday, but certain steps were taken. and what do you think is extra today, said that not implemented yet. but really, when do presidents go? i handed him a report, and we made a special report, and within the framework of a large

report, we made a special. the report is also 10 years old for the institute and we decided to look. what are the main changes that have taken place in the business climate in russia over these 10 years, and there are undoubtedly positive aspects. first of all, this concerns the control of supervisory activities. today, one more step in this sense has been taken, which, indeed, from checking women has become not the most effective way to fight for the missing prejudice there about life and health food safety or there environmental safety. there are other methods that have proven their effectiveness. the number of inspections during this time has already decreased by three times, and fines by six times in 10 years. ah, but today one more step, you can generally refuse to solve problems in other ways today, we heard this, but what’s bad has already been said, but what’s bad is that with what problems, but related to illegal criminal prosecution of business. i came to this position of the plenipotentiary was created. from

such problems practically go away, although there were solutions to the regulatory framework. there were damages, there, uh, a year in a pre-trial detention center equaling a year and a half in prison there, well, or rather, a little bit of a term to a year and a half in a pre-trial detention center . and here is this group. yes, it was changed by a criminal group, too, today this problem is practically gone. so, almost fifty-ninth, yes, or another electrician stole money, and the whole company is sitting serious, an article under which you are threatened right up to life, and there you can already sculpt anything, and this problem has gone because of this time, but, nevertheless, the main ones still remain and the finding of entrepreneurs in a pre- trial detention center still at the stage of preliminary investigation, as a result of the business, it stops. this is a long-term

consequence, in general, a long-term consequence. and this is a measure of restraint, which others are required to accept bail today, too . well, that's a whole bunch of problems. and so we heard that we still need back to the solution. namely, issues related to criminal prosecution. eh, it's very gratifying that this is a large part of my report, and it was clearly read and analyzed, and many of the things that were said there were by us today. well, already in the report of today's president at the forum they are reflected. eh, wrestlers. and how does she look? why is this problem so difficult to solve? what prevents here from monday to begin already in a life so? well, because the investigators came out. is there. uh, those who really exercise felony prosecution and there are several exchanges. well, of course, no one has canceled corrupt and purely personal interests there. and

which, unfortunately, is also present in many processes, but there are also other things. just so lighter pinkertons became less agate cross stitch, and among our next bodies. and when you put entrepreneurs in a pre-trial detention center, it is easier to get a confession from him about a confession. so this is the queen of the investigation, yes, as they say? it's uh proof proof but it's not the way, and therefore, when you are kept in a pre-trial detention center and also begins investigative actions. there, a year after you got there, well, it's psychologically really affecting your relationship. and the fact that you're actually starting to confess, so of course it's just the easy way out, but hmm, a guilty plea. e, borisovich and how can you

really fight this, but apart from a normal base. we have specific proposals for a normative position. specifically on this issue , today it was not said that yes, it is necessary to decide, but until october there are proposals. well, these specific proposals can be solved by means of which, let's say that the bail is the first measure of restraint that the court would consider , ah, if, uh, the team, but the company? in which the defendant works for him, he will make a bail there up to 1% of the proceeds of this company, then the court is obliged to apply bail, they arrest him with a bracelet so that he sits aware of his guilt, bail is better. yes, homemade ones like this are tough, yes, and he can usually be extra there, a person can work there to manage the company restrictions, there and the internet cannot be used as usual,

therefore, of course, you have to go to work in the office and work. and as a consequence, if he proves guilty, yes, and the court recognizes this, then, then, yes, and the idea sits out. well, actually all over the world, as it basically happens. yes, in the end , even breaking the law of the entrepreneur. this is not a serial killer and rapist who must be kept locked up to keep out the danger of economic crimes, in general, when i started 10 years ago the first conversation from the path. which took place already in the new position, there was such a thesis that sounded that there should be economic punishments for economic crimes, unfortunately, unfortunately, this does not happen in our country. well, let 's hope that this issue will be resolved, because why am i asking in such detail about this, because well, it's a sin to hide many that stops participation in business, a and often people make mistakes in business not because they are scammers, but because that they simply did not have the necessary knowledge and

violated the same law very often, and because of this they do not want to sit in sizov in prison, there and so on. additional risks, business-general risk. well, when you live in such an unstable regulatory system, but in the legal system of the administrative system, then, of course, these risks increase. well , you understand that this is not just the state, because the state, when it is inefficient, is very useful. dima, it goes on about and often in other entrepreneurs, so raiding, but the problem is clarifying relations between entrepreneurs, and through attracting to its side some and law enforcement or administrative regulatory authorities. unfortunately, this is a fairly common occurrence today. this is how it turns out a culture of entrepreneurship and a culture of relationships between people in this business, because there is a place for banks,

for example, instead of selling collateral, even if entrepreneurs paid, paid, paid, returned the loan, returned the loan from interest, and then could not, because that, for example, a crisis like today, and many banks prefer not to sell collateral, yes, and use normal and commercial schemes to repay your damages. i initiate law enforcement agencies, the investigating authorities initiate a case, that is, he sees intent in advance, puts him in a pre-trial detention center and fraud. it is a universal accusation. yes. everything can be a scam. in our country, article 159 accounts for almost 80% of all cases against entrepreneurs. here, therefore, here is the use of the criminal law to the same entrepreneurs as you. this, unfortunately, is a common story. well, it just seems to me that without uh radical solution to this problem. we are the tasks of the president. i didn’t comply with this issue,

because if they are betting on private initiative, and such a bet was made today by the president, then, it seems to me, everyone involved in this issue should still think seriously, and how to change the situation and very quickly, because that we do n’t have time to swing from the reserve at all. well, we repeatedly went through such times when we did not have a result of a pregnant buildup. we all somehow experienced these times without much buildup, but because there were no such cardinal changes in economic policy, but yes, criminal prosecution is a very serious negative factor in the business climate, but in russia, but i must say that this is not the only thing. in general, here is the report that i presented to the president, there is a business climate, and its quality was considered from the point of view of business, which is always, well, a very simple system and assessment of the business climate, and how it expresses business

should be profitable and convenient safe safe convenient profitable. that's convenient checks. we have now decided there, more or less serious issues, in fact, there is an improvement in this sense. russian, which is only increasing. well, for example, all these new and technological modern methods of control, which are still hung on the economy of companies of businessmen and entrepreneurs. i say, there are tachographs and glonas, which are in their car and platons and egoists. now the egoist forest even exists already, and not only the entrepreneurs of all this whole system. it means that at the expense of entrepreneurs makes a website. and also on

businessman to lie down as a cargo of administrative. this is what is still needed. eh, seriously regulate somehow. in general, we have now come up with an initiative. i gave the president our proposal. what in general, let's introduce a worsening of the administrative workload, and we have achieved an increase in the administrative workload for businesses. let's and the colonies, as they say , today had a lot of such as the president said yard. burning here let's gasp. uh, because in such conditions today it’s also necessary to fight for cleanliness in marking. yes, there is counterfeiting. eh, there the effect of this there still needs to be proven, but, of course, introducing this is counterfeiting - a big problem for russia , for example, in the field of milk. and well, or the restaurant business, but this struggle is very expensive. and, probably, this is not the best time for this, therefore, of course, we must

reduce today, it should be convenient for the initiative recultural load there, but on the other hand, if it is not profitable, of course, no business security is no longer important inconvenience. nobody will go to work business, if initially not profitable, therefore, of course, we need new economic ones. we are also at the forum today, discussing the forms , our state is constantly offering some solutions. but these are all decisions, you know, to build a brain for the future, but only up to half the river, but because reforms are needed today. today. it's not just some kind of uh structural problems that need to be solved there, but it's practically a new model, a new model for the development of the russian economy is needed. we need from the raw material model with our own rules and work need to go. uh, as they

call it there, the reworking model is a technological model, a competitive model, because it should be based on private business, and on reducing the role of the state in our economy. and here's how to go there today we discussed and this is a long path that borissimovich has in store for all of us. thanks a lot. i hope that this is right next to you, about which you told, she is still like that in a fist. unite and we will achieve the goals that we set the president. thank you very much, and dear friends now is advertising, and then we will continue to cover the form in st. petersburg. i'm sure, maybe in a new way, what's for sure? what is it like? it works comfortably and safely. well, here's

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directly to our discussion platform, russia 24, because here the discussion has also been going on all these days and going on. they are also substantive and also direct participants in all those, uh, decision-making processes directly. main event. today, of course. it was a plenary session with participation. e vladimir putin yes, indeed the main events of the day, and it broke many records. so welcome . vladimir putin lasted 1 hour and 15 minutes. this is the longest performance by vladimir putin at the st. petersburg international uniform in the last 10 years in total, it is desirable that putin has not been participating in the forum since june 2005, in addition, the meeting itself was quite long, approximately 3.5 hours, and in addition to vladimir putin, the president of kazakhstan, kassy martaev, and a.s. the

president of egypt da abdel fatta hasiti and the president of the prc also made addresses. yes, of course, well, the topic that was raised today, they were, of course, expected and the questions that margarita simonyan asked, uh, also in fact , all uh, these questions, of course, on hearing. e. this is what concerns now the international situation of those restrictions that are placed against russia and that, but the wave of russophobia that we see every day. and, of course, uh, russia's response to all these unfriendly steps from outside. uh, those who, until quite recently, were called partners. a. well, and, of course, we talked about the future, in particular. here at the end. uh, at the end of this plenary session. they even talked about artificial intelligence, but about everything in detail. we'll talk a little later then. um , let's just be here for a bit. as i understand it let's take a break, and then move on to another discussion platform. e, which is also discussed today already. she has managerial problems. this is lena and

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summing up the results of this working day at the st. petersburg international economic forum 20-30, st. petersburg, but in fact, the results of this working day

it's too early to sum up, because the working day is in full swing, and the president has not yet completed his official program, just now the working lunch is going on. although in time. you are already her dinner. yes, and with the president of kazakhstan kasym journalist tokaev. this is far from the only bilateral meeting that the president of russia is scheduled to meet today. it is also known that he is to meet with the president of armenia in a carload of khachatryan. in addition, a meeting is to be held with the serbian member of the presidency of bosnia and herzegovina. yes milord dodik. and just there they will discuss economic cooperation under the conditions of sanctions and the implementation of agreements to continue cooperation. in general, of course , this is cooperation under the conditions of sanctions today, the main topic of the day and it was discussed not only at the plenary session, but also on the sidelines of the forum. well, there are a lot of questions here actually, how to cooperate with whom to cooperate and on what rules, because the rules of the game. well, frankly, they have changed. and today, on the site

of the vprf corporation, a discussion took place a-a on topic of the new architecture of international economic relations. indeed, what are these new points of growth, if the old points of growth, and so this idea today, also during other discussions, was traced turned into harm rather. yes, we need to look for new points of growth, new points of economic development, but also where to get funding for this large-scale, and economic restructuring, which everyone now has to make , just talked about this in detail at the corporation site in the russian federation and let's now let's listen. how did this discussion proceed, what did they say in particular? today we have the opportunity to discuss extremely important issues on a new model of socio-economic development for the elections - this is a great responsibility, because in addition to our main function of contributing to the

development of economic investment projects. uh, when do we do it on our own or together with commercial banks? of course, we do this, uh, based on what is happening in society exactly a year ago on this site in the russian federation together with other organizations and development, he presented his strategy until the age of 24, and everything seemed to be going well. we have lined up all our instruments received and senders, additional opportunities in the form of liquidity capital. we understood how we need to get involved in this work, from microfinance through the sme corporation and their instruments to the largest projects, including the national development project, and, of course, we are now experiencing it together with the whole country. this is a difficult period, when projects started by those that we planned to start should look critically and in

general at their model. our model, of course , is a derivative of what is happening in the world in our country. we are an instrument of the president and government, and in order to better understand this period, we decided to hold a session with our colleagues, not dedicated to specific projects, which are our main business of the development bank, but on another part of our development. this is a contribution to the development of thoughts about how it develops in us socio-economic model decided to do this in an unconventional way, usually those economists who are widely known and have great expertise and applied knowledge are invited. well, today we decided to build our panel. so we have one mentor economist and this role. today we

asked evgeny kogan to be a professor at the higher school of economics, and we invited the new generation of economists. and their knowledge. it is extremely important for us, because they are not in captivity of those standards and principles of building an economic model, in which, for example, i am and my generation. nevertheless , these are economists who are well- trained and occupy an active expert position, and i hope that at the end of today's session we will have some understanding of practical implementation through our joint dialogue, so it is not only economists who are experts - these are economists who including practice. let me introduce who we're working with today. so this is sophia yes no, chief economist of renaissance capital for russia cis this is oleg shabanov director of financial

center, skolkovo russian school of economics alexander isakov chief economist for russia vtb and marcel salikhov president institutes of energy and finance. and for starters. let us still try to answer the question of whether, in the current conditions, we have a resource that will ensure the best well-being of our people, or whether we are in an environment where the economy will slowly contract, and we will enter a period when our people will be forced to consume less consumption pattern will be different from yesterday. uh, when we test certain solutions, or we have every opportunity to ensure that, uh, prosperity and real economic growth, i invite all panellists to speak out, and then we will move on to the dialogue eugene because you and as i said our mentor, please.

get started. thanks igor ivanovich for such a high title. eh friends. i believe that there is such a resource, it will be very easy there, but there is a resource and in principle it is called. a fundamental fundamental change in the paradigm of the relationship between the state and business is what i mean. first of all, our life in russian business today is built entirely on the state's distrust of it. this needs to end fundamentally. uh, my position is very simple, it's not only my non- stolypin clubs of a large number of businessmen, friends. get away from business. do not interfere with him, do not give him something now, just step back and do not interfere with his work for the second moment, uh, as much as possible. well, as i said, trust in business is the maximum regulation. see. wake up today night of any banker of any businessman. quiet in his ear. say the word one hundred and fifteen fz well, one of them will immediately die due to a broken heart, someone to say, apparently

a very restrained person. here, we need to radically revise these issues, because in the end we wrote off this law of international iml legislation. well , maybe we need to change something with this. uh, in general, it is necessary to radically revise the legislation, which today clearly looks anachronistic; i will give, a simple example, the legislation on controlled foreign companies, akikah, please excuse me , but thanks to this legislation, a large number of businessmen are forced to stay abroad today and thus, as it were, minimize their taxes. why tax? i don't know there are five or six percent for such businesses and a businessman. let him sit in russia and work much. better will it also requires a radical change further. i think that in the field of coarse processing. we need to change the tax regime again. hey listen we can talk about it for a long time. which model there is suitable and so on. yes, you don't need anything for us. everything was invented. for example, simple e,

the bulgarian system 10-105 10 tax on corporate business, citizens' profits and five tax on dividends. it's just that business poured into bulgaria . our business. first of all, it needs a simplification of the tax regime, and above all, as i said already in the field of deep processing , what we lack today, and then a large number of people. uh, maybe lose their job, someone will be on a part-time job employment what we need to do today is to stimulate work on the patent. it's just clear people have lost their jobs. here's a patent for you. don't just go into gray areas. here is what is fundamentally important. uh, we need to build a business incentive system for the preservation and creation of jobs grants in joint projects, along the line. ppp. it was from the public private partnership that i found e people, so to speak, please give him a job, please, the state helps you. it's not that big money next. we talk about it a lot. i think that, well,

the time has come. it’s just that we simply don’t have any other time left, it’s necessary to amonize a huge number of businessmen who are now sitting on economic articles and for me in tax violations well, what are these people here, simply. well, sorry, unfortunately i don't. now, for a long time, an acquaintance bought an agricultural enterprise, gave him money on credit in order to plant everything on semin, so to speak, and grow it. uh, he took the money that he took wrong and took it. as something there broke about, the consequences of a very long time stole their own business. well, maybe it's time to end this. eh lord. and the most important thing here is the concretization of articles, because under article 159 today. you can bring almost everything. why do it? well, the last thing i wanted to say. you know a lot of recent statements of this kind, which do not at all give businessmen the opportunity to rejoice in feeling that the climate, or rather trust,

is growing here are the latest statements. and let's go there, who went somewhere. let's confiscate. why why make people nervous? maybe that's enough. you understand that this does not encourage people to create businesses, here. uh, in conclusion, i want to say the following, ah, in the nineties, business and the opportunity to work , the opportunity to work freely, dragged out the country. well, not only did it pull out a lot of things, but in particular, today it is a private business, and it’s not important here that they tell me whether there is an average there. i think that in general it is fundamentally a private business. he can stretch the country. stand back. do not interfere with his work and give him maximum trust. thank you. yes, thanks eugene i understand that your main message is that of the source. uh, growth and new socio-economic models should become a business in one way or another, which you described so aggravated, as i understand it provoked a little, but the main source is - these are other conditions for the development of entrepreneurship in the russian federation absolutely yes, okay, so sophie, please.

i'll try to be brief now. uh, if you answer the question, what is needed for e economic growth, but, addressing, uh, simply to the accumulated world economic experience. mm, three important factors are the demographic situation, and access to a resource, including energy and education, these are three factors that trigger growth, even as they say, even if you are a small african country, these are three things. uh, in our country, uh, we probably need to perceive the first one as a problem zone, and the rest of the zones are rather comfortable and, well, in education. naturally needed. ah, momentum. she needs a job, a great session. this morning passed, just dedicated to this in this room, and if we talk about those the main challenges that are now facing the russian economy, in my opinion. it's, uh, severing external ties. uh hmm uh, then technology forgiveness is possible and uh,

third uh. it's a possible degradation of markets and institutions here. i'll be, perhaps, in some in a sense, market conservatives. so to speak. yes, perhaps, here is not that, but someone is waiting to hear this young generation. but yes, this is a little conservative, we fueled it and for the fact that the institutions were preserved and moved on, these two wtos are the second part of the institution markets and uh hmm and actually work with these problems. in my opinion, to a greater extent lies in the inner plane. the first break in external ties - of course, but there is still a lot of uncertainty, because this is the subject of political decisions not only in our country. uh, but accordingly, i think about all this we will talk in more detail during this session. thank you oleg please, and i would add two more points to our colleagues that sounded to some extent, but i would like to draw your attention to them.

the first is that in developing countries, to which russia still belongs. uh, infrastructure plays a very important role, and a lot of effort should be spent on it. unfortunately, the state here you will not see that private business is coping entirely, both with the physical and, for example, with the financial infrastructure , and therefore the participation of the state in this development will be very large and, i hope, very confident and efficient, as far as small -medium businesses are concerned, here i fully support the story is such that we are gradually changing the labor market. people are gradually leaving corporate employment into the more informal sector and the question of how to make it easier for them to do their own thing. how to enable? through perhaps, again, some kind of tax preferences, and allowing them to manage their small companies a little easier, this will be the key. why it is for welfare for gdp growth that this may not be the most important point for the welfare of citizens, this may turn out to be very important. yes sasha please, alexander

thank you very much. but it seems to me that, well , i also thought a-a about this, where is our source growth, and it seems to me that in the new model, and the source of our new growth model should simply be the fight against poverty. here is the formula for me, that is, uh, hmm, it is not necessary, maybe even to maximize the tempo of just gdp but for the next 10 years. we need to, uh, focus on ending poverty, and now, uh, we're doing quite a bit for that. we have targeted payments and so on, but targeted payments are a thing that works, and it works for those who receive them, and, unfortunately, poverty. this is an extremely multidimensional problem. that is, uh a poor person has a lot of signs and uh, in this space of signs. eh, it's very easy to get lost. you did not meet these criteria. you didn't get you left? there

is no easy solution to defeat her, but it seems to me that such a step could be reasonable. we need to try. perhaps e more active use. uh taxation of labor as a tool for equalizing the distribution of income is also stimulating employment. well, we did not actively use it for this, because personal income tax is a regional tax and where there are 85 subjects. you you can't steer as aggressively as you can with federal things, where you only need one solution. in my opinion, the transition to a system, for example, e on the basis, and a deduction from labor income with a possible maneuver between the levels of the federal between, for example, personal income tax transferring personal income tax a. and to the federal level so that

we can actively change this scale or introduce the necessary deductions. and for example, vat, uh, transfer to the regions at the place of actual consumption, could help us greatly, uh, overcome poverty. e in the coming years. this is one of the solutions, but the fight against poverty. i think this is the main growth model for the coming years, for me, yes, sasha, when you talk about personal income tax and make it the responsibility of the russian federation and the factor in the fight against poverty, do you mean a progressive tax or not, and he us already progressive correctly. that is, on the one hand, relatively. yes, i would say that the system that i like the most is called. uh, earned income deduction. that is, uh, you pay, maybe, well, the standard personal income tax but then you get a deduction vice versa, which depends on the structure of the family and

the number of dependents, and so on. this is a very effective system, which has proven itself well in other countries. obviously, economically. this is still close to the progressive scale, although there is a different mechanism for payment and return. okay thank you. this is a vtb advertisement and it's time to speak frankly there are things that will not disappear anywhere our decades of experience that helped us become stronger and survive all crises 1,300 branches across the country with real professionals who are ready to help in real life, not just in advertising government support and trust of tens of millions of customers. everything, this remains unchanged, as well as our responsibility to you. that is why everything will be in order with your money, as from the fulfillment of the dream of your home and the ability to support loved ones at the most necessary moment. you

will meet a lot of crossroads in order to turn left. marina, remember the love that the artist gives to the viewer. it always comes back you know, i'm already high, and i'm high free card with 5% cashback on all this opening. i am a sole trader and every day i invest in the business.