Russia had eaten 420 trillion rubles of the USSR heritage

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Material-technical base of the Russian economy – buildings, constructions, machinery and equipment – decays and degrades significantly faster than the estimates by Rosstat.

Over the past 25 years in the junk turned half of the production infrastructure, the country inherited from the Soviet Union, two thirds of fixed assets has reached a critical stage wear, said in an interview to “Kommersant” Professor, Siberian Institute of management of Ranepa under the President of the Russian Federation Grigory Khanin.

In the 1990s and 2000s country “eats” the legacy of the Soviet Union, capital expenditure was substantially less than was required even to maintain fixed assets, and provided the illusion of economic growth.

In fact, in monetary terms, the economy has permanently lost the material base worth 422 trillion rubles, calculated Hanin.

 

“This is much more than the losses in the Great Patriotic war. Then a decline of 33.5%,” says Hanin.

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He reminds: the main production assets are physical capital, the most important resource of the economy, which along with human capital determines the level of development affects the dynamics and GDP and all other indicators.

 

If the rate of collapse of the material-technical base correctly, Russia’s GDP grew by 13.4% from 1992 to 2015, according to Rosstat, decreased by 10.2%, calculated Hanin.

Labour productivity over the same period fell by 30.1% instead of the official growth of 9.2%. If we estimate it in rubles, and in physical terms (number of employees, volume of production, etc.), Russia in 5-7 times, and in some industries and is 10 times behind the developed countries.

“Add to that the degradation of the quality of secondary and higher education, which has been observed since the 70-ies of the last century. Plus mental debilitation of the population, the media,” says Hanin.

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According to him, due to the embellishment of the statistics in the best traditions of the CSB “the country’s leadership relies on incorrect data about the economy” and “the illusion that growth is possible without significant cost.”

“We estimate that in 2015 prices to preserve key assets and their increase by 3 percent per year will require a 14.6 trillion rubles of investments. Plus 900 billion in working capital. In the development of human capital – education, health, research – need to invest 10.3 billion rubles. All together will amount to 25.8 trillion rubles a year – a third of our annual GDP,” says Hanin.

“The task of overcoming the backwardness of Russia is extremely complex, requiring huge efforts and sacrifices from the whole of society,” he concludes.

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