User:Nanobear~enwiki/Kudrin
Alexei Kudrin Алексей Кудрин | |
|---|---|
 | |
| Minister of Finance | |
| Assumed office 28 May 2000 | |
| Prime Minister | Mikhail Kasyanov Viktor Khristenko (Acting) Mikhail Fradkov Viktor Zubkov Vladimir Putin |
| Preceded by | Mikhail Kasyanov |
| Personal details | |
| Born | 12 October 1960 Dobele, Soviet Union (now Latvia) |
| Political party | none |
| Alma mater | Leningrad State University |
Alexei Leonidovich Kudrin (Russian: Алексей Леонидович Кудрин) (born 12 October 1960) is the Minister of Finance and Deputy Prime Minister of Russia. After graduating with degrees in finance and economics, Kudrin worked in the administration of Saint Petersburg's liberal Mayor Anatoly Sobchak. In 1996 he started working in the Presidential Administration of Boris Yeltsin. He was appointed Finance Minister on 28 May 2000, and has held the post ever since, making him the longest-serving Finance Minister in post-Soviet Russia. In 2007, he was additionally appointed Deputy Prime Minister. As Finance Minister, Kudrin is widely credited with prudent fiscal management, commitment to tax and budget reform and championing free market. During his career, Kudrin has won several awards, including the "Finance Minister of the Year 2010" prize by the Euromoney magazine.
Biography[edit]
Early life and education[edit]
Alexei Kudrin was born on 12 October 1960 in Dobel, Latvian Soviet Socialist Republic.[1] His first job was a motor mechanic and training assistant at the engine laboratory of the Academy of Procurement and Transportation of the Defense Ministry of the Soviet Union, before entering Leningrad State University to study economy. He graduated with a candidate's degree in 1983, and got an internship at the Leningrad Institute of Social and Economic Problems. In December 1985, he entered the internal postgraduate school at the Institute of Economics of the Academy of Sciences of the Soviet Union, where he later received his PhD. Kudrin has authored over 15 scientific works in the fields economics and finance,[1] including competition and anti-monopoly policy in the Soviet economy of the transition period.[2]
Saint Petersburg administration[edit]
From 1990 to 1996, Kudrin worked in the Saint Petersburg Saint Petersburg City Administration under the liberal mayor and reformer Anatoly Sobchak. His first position was Vice Chairman of the Committee for Economic Reform. Until 1993, he worked in various financial positions in the city administration, before he was promoted to Deputy Mayor, in which position he served from 1993 to 1996.[1] Future President Vladimir Putin the other top Deputy Mayor at the time.[3] He was also Chairman of the City Administration’s Economic and Finance Committee.[1]
Presidential administration[edit]
In August 1996, Kudrin was appointed Deputy Chief of Boris Yeltsin's presidential administration, as well as Chief of the Administration on Trade, Economic and Scientific-Technological Cooperation. In March 1997, he became First Deputy Finance Minister, and on 28 May 2000, he was appointed Finance Minister by the new President Vladimir Putin.[1][4] In addition to his role as Finance Minister, Kudrin has been serving as one of the Deputy Prime Ministers of Russia since September 2007.[1]
Personal life[edit]
Kudrin is married, and has a son from his current and a daughter from his previous marriage. His hobbies include tennis, swimming and music.[4][1]
Finance minister[edit]
Since his appointment as Finance Minister in May 2000, Kudrin has been one of the most visible and influential figures in the Russian government. Kudrin belongs to the group of so-called "St Petersburg economists"—liberal reformers who worked with Putin during his time in the St Petersburg administration—one of the three main informal groups during Putin's presidency.[5] John P. Willerton regards Kudrin and German Gref as the leading intellectual forces in crafting of the economic policies of the Putin and Medvedev presidencies.[6]
Prudent fiscal management[edit]
During Putin's presidency, Russia's macroeconomic policies were highly prudent, and extra income from oil exports was put in stabilization funds.[7] The Stabilization Fund of the Russian Federation is widely regarded as Kudrin's idea. Alexander Osin, chief economist at Finam Management, regards the Stabilization Fund as one of Kudrin's main achievements.[8] However, other analysts have described The Stabilization Fund as "dead money", which doesn't benefit the real economy.[8]
In 2005, Kudrin and Prime Minister Mikhail Fradkov clashed over a proposal to cut VAT tax from 18% to 13%. Fradkov supported the proposal, but Kudrin argued that lower VAT could endanger stability of the ruble and would cause the government to withdraw money from the stabilization fund.[9] The same year, Kudrin received the "Finance Minister of the Year 2005" award by the Banker magazine.[10]
On 21 August 2006, Russia paid its debts, totalling $23.7 billion to the Paris Club. Simon Pirani, writing for Emerging Markets, praised Kudrin's refusal to be "blown off course by other ministers' whims" in his quest to repay the debt. He also credited Kudrin with sound conduct of the ruble exchange rate and capable fiscal management that has arguable helped to prevent the most serious problems of the so-called Dutch disease.[11] In 2006 Kudrin received the award "Best Finance Minister of a Developing European Country" by the Emerging Markets newspaper, published by the IMF and the World Bank.[8]
As the father and supporter of the prudent fiscal management policies, Kudrin had to endure strong criticism from other members of the government, who believed the money should instead be invested in the country's development. In the end, Kudrin's stance prevailed. The savings later proved crucial in helping Russia to come out of the financial crisis in a much better state than many experts had expected.[10][12] As the immediately author of fiscal policies and a strong supporter of financial prudence, Kudrin is widely credited as the father this achievement.[7]
Other policy stances[edit]
Although he has often spoken in favour of privatisation and lessening the state role in economy, Kudrin also supported the creation of the so-called national champions.[11] Kudrin has said that the state's role in the oil industry should not be increased, and has indicated that the purchase of Sibneft by Gazprom and the merger of some former Yukos assets to state-controlled oil company Rosneft were taken at a particular stage of the restructuring of the sector. According to Kudrin, "no-one regards state ownership of such assets as an end in itself" and "we are not going to see a continuous strengthening of the state’s position."[13]
As Finance Minister, Kudrin has also supported increasing the retirement age and cutting down on bureaucracy. For his policies, he has often been the target of criticism, especially from the United Russia party, which he has refused to join.[8] According to Renaissance Capital, Kudrin's poll ratings are not favourable as he is seen as responsible for some highly criticized welfare reforms, although economic experts say that the reforms proved to be highly effective.[14]
Budget projections[edit]
In the aftermath of the late 2000s global economic grisis, Russia's state budget went into deficit for the first time in years. Kudrin has said that the projected budget deficit is to total 3.6% in 2011, 3.1% in 2012 and 2.9% in 2013. The deficit will be covered primarily through expanded market borrowing. According to Kudrin, the government's aim is to attain a deficit-free budget by 2015, based on projected $75-78 oil prices per barrel.[15]
Finance Minister of the Year 2010[edit]
In October 2010, Kudrin was declared "Finance Minister of the Year 2010" by the Euromoney magazine. The magazine said that "Kudrin is rightly hailed as a fiscal manager of the highest order" and praised his "championing of the free market and fiscal prudence". According to Euromoney, the Stabilization Fund created and supported by Kudrin also "enabled Russia to pay off its foreign debt early", and noted that "Kudrin is rightly praised for his commitment to tax and budget reform, Russia’s desire to join the World Trade Organization (WTO) and continuing the progress in privatization." [8]
References[edit]
- ^ a b c d e f g "Alexei Leonidovich Kudrin". Ministry of Finance.
- ^ "Alexei Kudrin". Government.ru.
- ^ "Kudrin Besieged, Ivanov On Rise last1=Borisova". The Moscow Times. 2000-11-21.
{{cite news}}:|first1=missing|last1=(help); Missing pipe in:|title=(help); line feed character in|title=at position 33 (help) - ^ a b "KUDRIN, Alexei Leonidovich". Russia Profile.
- ^ Willerton, John (2005). "Putin and the Hegemonic Presidency". In White, Gitelman, Sakwa (ed.). Developments in Russian Politics. Vol. 6. Duke University Press. ISBN 0822335220.
{{cite book}}: CS1 maint: multiple names: editors list (link) - ^ Willerton, John (2010). "Semi-presidentialism and the evolving executive". In White, Stephen (ed.). Developments in Russian Politics. Vol. 7. Duke University Press.
{{cite book}}: Cite has empty unknown parameter:|1=(help); Text "9780230224490" ignored (help) - ^ a b Hanson, Philip (2010). "Managing the Economy". In White, Stephen (ed.). Developments in Russian Politics 7. New York: Palgrave McMillan. ISBN 9780230224490.
- ^ a b c d e Kononova, Svetlana (2010-10-18). "Cracking the Piggy Bank". Russia Profile.
- ^ "Kudrin Prevails Over Fradkov in VAT Spat". The Moscow Times. 2005-03-14.
- ^ a b "Kudrin: Finance Minister of the year". Russia Today. 2010-10-11.
- ^ a b Pirani, Simon (2006-09-19). "Finance Minister of the year, Europe". Emerging Markets.
- ^ "Kudrin and Fischer honoured by Euromoney and IMF/World Bank meetings in Washington". Euromoney.
- ^ Pirani, Simon (2006-07-20). "Kudrin battles hard for reform". Emerging Markets.
- ^ "Alexei Kudrin". Rennaissance Capital.
- ^ "Deputy Prime Minister and Minister of Finance Alexei Kudrin addresses State Duma in connection with submitting the federal budget for 2011 and the 2012-2013 planning period". Government.ru. 2010-10-20.
External links[edit]
