The Gaidar Forum-2019: Employees of the Gaidar Institute Discussed the Problems of the Russian Financial Sector
On 15 January, within the framework of the Gaidar Forum-2019 an expert discussion on the problems of the Russian financial sector was held.On 15 January, within the framework of the Gaidar Forum-2019 an expert discussion on the problems of the Russian financial sector was held.
Opening the debates, Alexei Vedev, Leading Researcher of the Gaidar institute expressed regret that neither the government’s forecast of Russia’s economic development in 2018–2024, nor numerous independent forecasts include estimates of development of the financial sector. According to Alexei Vedev, Russian strategies applied to the financial sector have long become outdated and fail to ensure sustainable economic growth rates.
On his part, Mikhail Khromov, Head of the Financial Studies Department, Gaidar Institute, stressed that Russia had to sel ect a model of development of the financial sector, that is, the way of consolidation of banks or development of alternative sources of lending to the financial sector. In the former case, it is necessary to make the banking sector larger and promote bank lending because the Russian banking sector is very small compared to that of developed countries, while in the latter case it is required to stimulate financial resources fr om households to come to financial markets.