DATE=1/3/2000
TYPE=CORRESPONDENT REPORT
TITLE=RUSSIA'S ECONOMY (L-ONLY)
NUMBER=2-257742
BYLINE=BARRY WOOD
DATELINE=WASHINGTON
INTERNET=YES
CONTENT=
VOICED AT:
INTRO: Western economists are cautiously optimistic
that Russia's acting president, Vladimir Putin, could
bring a renewed commitment to market-based reform in
Russia. V-O-A's economics correspondent, Barry Wood,
has more.
TEXT: Vladimir Putin has said in recent weeks that he
wants to attract more foreign direct investment into
Russia and make the economy more efficient. He says a
long-term growth reform strategy is required to bring
Russia into the world economy.
Ariel Cohen, a Russia expert at Washington's
conservative Heritage Foundation, is optimistic that
Russia's economy will improve under Mr. Putin.
/// COHEN ACT ///
I believe that we may see, after the appropriate
steps are taken by the Russian government in
terms of strengthening corporate governance,
land reform and some form of guarantee for
foreign investment, I believe we will see an
increase in foreign investment into Russia in
2000.
/// END ACT ///
Mr. Cohen says he hopes Mr. Putin will move swiftly to
privatize land and guarantee private-property rights.
Another Washington-based researcher on the Russian
economy, Anders Aslund of the Carnegie Endowment, says
land reform is likely under Mr. Putin.
/// ASLUND ACT ///
I think there are two reforms that are likely to
happen rather soon. One is a big tax reform,
which has long matured, and many people are now
in favor of it. And here it is a matter of
political will and initiative to get it done.
The other that has become possible because the
communists lost so many seats in the last
election is land reform, private ownership of
agricultural land.
/// END ACT ///
Mr. Aslund says Mr. Putin is relying on known
reformers Anatoly Chubais and Yegor Gaidar for
economic advice. Mr. Aslund says the prospects for
meaningful reform in Russia are now excellent.
Experts say the task of reforming Russia's still
declining economy is daunting. Forecasters say little
or no growth is anticipated for this year. And the
more formidable challenges of financial crime, the
absence of the rule of law, and a flawed privatization
of state assets continue to hobble the Russian
economy. (Signed)
NEB/BDW/WTW
03-Jan-2000 17:20 PM EDT (03-Jan-2000 2220 UTC)
NNNN
Source: Voice of America
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