Russian Finance Minister Anton Siluanov. File photoMOSCOW, Jan 14Russian Finance Minister Anton Siluanov called the labor shortage, geopolitics and ESG the main risks for the growth of the Russian economy in 2022. a question from the moderator about the main risks for the growth of the Russian economy this year. «But maybe this will just spur labor productivity growth,» the minister added.The expert assessed the risks for the Russian economy due to possible US sanctions. According to him, the situation on the labor market is now similar to that recently observed in the electric power industry: when the cost of resources was low, companies had no incentives to introduce new technologies and engage in energy efficiency.» There are ESG risks. We have a big risk — geopolitics too. And trade protectionism,» he added. Moreover, the latter is a risk not only for the Russian, but also for the global economy as a whole. Siluanov recalled that a few years ago a ban on exports or restrictions on the supply of any goods would have looked wild, but now such decisions are being discussed and introduced. «This is a risk that we see in the global economy, which will interfere with growth,» — said the head of the Ministry of Finance. According to him, the Russian authorities should also seriously address the risk reduction for equity capital. “There is money, big, huge profits. The question is that these profits go to new jobs, new industries, and so on. And here it’s just the issues of protecting property, guaranteeing macro-stability, inflation, exchange rates, taxes, and so on. We we should tell businesses more clearly that we have such and such rules in the future,» he stressed. economy
