Russia’s government is known for being fiscally conservative. It’s one of the things foreign investors love about it. It’s also stingy. It’s one of the things that stops it from growing.
Russia needs to spend more, foreign investors believe. Spending more might even keep more Russians in Russia. Russia could do this, too, even if on a smaller scale. They need more Yandex’s, the all-purpose Russian tech name.Basically how it works is the Russian Treasury allocates money to the regions. Treasury is in charge of the cash management. If the region’s don’t spend the money by a certain time for whatever reason, they send it back.
There are job-creating infrastructure projects in the works in Western Russia. The bigger problem is the center and far east. Governments there are slow to lay out terms for infrastructure projects. Some may not even be viable. It’s not like Russia’s Siberia is teeming with people. But until governments commit, private money goes elsewhere. Everyone in Russia’s investment circles sees the opportunity, but the mindsets of those in Moscow and those in Siberia are quite different.
No, that's called corruption
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