Sergei Glazyev will be the Minister for integration and macroeconomics of the Eurasian Union

_ Moscow, 16 August 2019.

Advisor to the President of Russia Sergey Glazyev will become the new Minister for integration and macroeconomics of the Eurasian economic Commission (EEC supranational regulatory body). Candidate Glazyev has been approved by the heads of governments of Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia. Approve Glazyev in his new position have presidents of countries – members of the Union at the meeting on October 1 in Yerevan, the press service of the EEC.

Return to CIS

The Federal official explained to “Vedomosti” that the Glazyev will not be able to combine a new position in the presidential administration. Press Secretary of Vladimir Putin Dmitry Peskov did not answer the question of “Vedomosti”.

Glazyev will replace the EEC Tatiana Valovaya, who headed the headquarters of the United Nations in Geneva.Glazyev was already working in EEC, he was a responsible Secretary of the Commission of the Customs Union (which was later transformed into the Eurasian economic Union).

Glazyev – is an economist of the Soviet school: a supporter of state interventionism and equity to stimulate economic growth, told “Vedomosti” the former first Deputy Chairman of the Central Bank, Professor at the Higher school of Economics Oleg Vyugin. “These ideas he carried out in opposition to supporters of net monetarism and the market. However, the EA AP – it’s still not the most powerful position, so his ideas usually don’t come to life,” says Vyugin. From this point of view, the care Glazyev from the post hardly any impact on the current economic policy of the authorities, he said.

Glazyev transition from one post to another will not lead to significant changes neither in the President nor in the Eurasian economic Commission, said a member of the Supervisory Council of VTB, the former Chairman of the Central Bank Sergey Dubinin. Although Sergei Glazyev has often criticized the work of the government (in particular, for the placement of public debt in foreign currency with high interest rate and the Central Bank for tight monetary policy), the role of adviser to the President, he is not strongly influenced by the current economic, financial and monetary Affairs, said Dubinin.

Going to post to the Eurasian economic Commission, Glazyev may continue to publicly make critical remarks about the government and try to consolidate opponents of the current government, but the Commission is a platform for inter-country negotiations, and that experience had not, concludes the Dubinin.

A critic of the government

Glaziev is an Advisor to Putin since 2012, He has repeatedly criticized the financial-economic bloc of the government and the Central Bank for economic, fiscal and monetary policy. According to Glazyev, international reserves should be more actively used to support Russian banks and industry, the share of dollar in the Russian economy should be radically reduced. The sources of “Vedomosti” in 2013 is not excluded even that Glazyev may lead the Central Bank, however, took the position of Director Elvira Nabiullina.

In 1992-1993, the government of Viktor Chernomyrdin, he was Minister of foreign economic relations of Russia. Also, he was elected to the state Duma from the Democratic party of Russia, on the list of the Communist party and of the bloc “national-Patriotic Union “Rodina”, which he headed together with the current General Director of “Rosatom” Dmitry Rogozin.

The Motherland bloc was formed in 2003 to participate in the elections to the state Duma of the five political groups and in the end scored 9% of votes received in the lower house of Parliament 29 seats out of 450. The new unit took fourth place, only slightly behind such heavyweights as the Communist party (12.6%) and LDPR (11,45%), and more than twice bypassed Yabloko (4.3 percent).

The success of the new party last but not least was associated with the program of Sergei Glazyev, the main thesis which is about the fair distribution of oil revenues attracted votes. At the time of the election campaign the price of a barrel of oil rose to nearly $33, which allowed the authorities to pay salary arrears and pensions.

In 2004, Glazyev participated in Russian presidential elections as the independent candidate. He was supported by a 4.1% of the voters. It was the third result after Vladimir Putin won, and the candidate from the Communist party Nikolai Kharitonov, who took second place.

Glazyev is included in the sanctions lists of several countries – USA, Canada, Australia, the EU and Ukraine.

Source: Tks

Leave a Reply

Your email address will not be published. Required fields are marked *