Experts community offer package of anti-crisis measures

ASTANA. March 27. KAZINFORM /Marat Manaspaev/ Russian Institute of post – crisis world study has undertaken a huge survey, presented recently in Moscow. What should be the priority actions to overcome the crisis? Either it is necessary to support banks and financial system or the real sector, social policy, and the retention of political stability? The participants of the survey addressed these questions to the experts from the post-Soviet space, as well as Eastern and Western Europe, the USA, Australia, etc.

Responding to these questions, many experts pointed out that all measures were important and interrelated. Effective anti-crisis policy means comprehensive implementation of measures in all areas, the experts say. Joseph Kirhengast, Der Standard, Foreign Editor, Austria believes that ?all areas are important, interesting and they are interrelated. You can not just choose one of them and say: we must focus on the development of industry and, at the same time, forget about the social or the financial sector. You need to pay attention to everything. It is very difficult to find a ?juste milieu?. The vast majority of experts - 80% - 90% expressed support for the financial sector and control of state means directed at maintaining the economy, as well as the support of the population, including social security, preservation of jobs, and employment. This is exactly the same priorities, which the Kazakh government designated as the main anti-crisis program. Half of the experts welcomed the support of real sector of economy, including its own manufacturers and exporters. 40% of experts supported the policy of socio-political stability, including the fight against corruption, the dialogue with civil society, political consensus. 30% of experts identify economic diversification - infrastructure development, modernization of production, introduction of innovation as the priority anti ? crisis measures. The same number of experts stands for SMEs supporting. 20% of experts were in favor of exchange rate management, including the devaluation of national currency. And another 10% consider the necessity of integration of the post-Soviet space. Here are some of their statements. ?I think that first of all it is necessary to support the financial and banking system. This circulatory system of any state, and, in any case, cash flows through any structure, including the economy. Given that it is now necessary to change the psychology of the financial and banking system in our countries, because, as it turned out, the psychology has also been wrong. As there is no other tools, our States have now really pay attention to this segment?. Dosym Satpayev,the director of ?the Risk Assessment Group?,Kazakhstan. ?First of all, you need to ensure the financial system through nationalization. The financial system should not die?, Vladimir Kochetkov - Sukach, first vice-president of the ?PIK-Ukraine? company. ?Support for the financial sector should be the minimum to avoid collapse. In today?s situation, the maintenance of the production sector will not have results, because their products are not in demand. And to create demand, the governments of the post-Soviet space as well as of all other states need to focus on the maintenance of final demand by increasing pensions and salaries of public employees, organization of public works, and - at the international level - waiver of customs and other barriers in order to protect national economies?. Alexander Filatov, Director General of the Independent Directors Association, Russia. ?Socio-political stability is impossible without support of the population. If millions of people lose their jobs and the pensions are very, very small, social and political stability may be affected. I think the government is well aware of this and tries to solve this problem, for example, to increase unemployment benefits, and although we are not talking about big money, the priority is social well-being?. Fabrice Nude-Langlo, the Moscow correspondent of Le Figaro, France. ?Ways of creating programs to support people are known and used by governments since the Great Depression. Program includes large-scale government-funded projects like dams in the United States and roads in Germany. There is also the possibility of producing food cards to support the poorest segments of the population. To support the political and social stability, there are 3 basic rules: 1. Keep the level of employment. Do not allow business to go into outsourcing and hiring foreign labor. 2. To provide wholehearted support for ordinary citizens, not to businesses and companies to take actions that could harm workers. Do not allow the exploitation of the population, rising prices for food and support those who already came under attack. 3. Maintain law and order. Call for understanding and cooperation. Be prepared to mobilize the police and the army in case of provocation, or external threat?.James Conway, Financial Analyst, BHP Billiton, Australia. ?The real structure of the reforms needed in most CIS countries and, in particular, in Russia, is reforming of the economy as a whole. As is well known, the Russian economy at the moment is too dependent on oil, gas and metal, but you try to diversify such situation in economy. Fabrice Nude-Langlo, the Moscow correspondent of Le Figaro,France. ?The main way to combat the crisis - it is the devaluation of national currency?. Vyacheslav Bunkov, the chief of analytical management company ATON,Russia. ?The post-Soviet countries should focus on developing common international competitive advantages - improved regulation?. Viktor Lisitsky, the first vice-president of the Association of Shipbuilders of Ukraine. As can be seen from the quoted, the expert community is under the process of active development of its own anti-crisis package of priority measures. ?Of course, for each country the choice of a particular way, the adoption of certain measures will be implemented taking into account the specific economic, geopolitical and social conditions. But it is clear that the participants of this survey made a global mindset ?crisis agenda? worthy of consideration by any government in the former Soviet Union?. It is a summary of the participants of the study. One can not but agree with them.