Marina Larionova, Director of the Institute for International Organizations and International Cooperation, co-chair of the Russian working group for public organizations for cooperation of G8 and G20, Yevsey Gurvich, head of the World Economy section of the G20 Expert Council, Sergey Drobyshevsky, head of the G20 Expert Council, Vladimir Zuyev, head of the subdepartment for international economic organizations and European integration of the Faculty for World Economy and World Politics of the National Research Institute of the Higher Schools of Economics, and Mark Rakhmangulov, Deputy Director of the Center for Research of Global Management of the Institute for International Organizations and International Cooperation, have discussed the G20 talks at Strelnya in Saint Petersburg held last week.
Drobyshevsky said that flow of the capital was one of the main topics of talks. Private capital is the main booster of investments. The states need to encourage investments in infrastructure and reduce budget deficit, he believes.
Gurvich noted that the summit was to reboot the world economy, improve taxing, find economic reserves, reform financial structures for a better investment climate. Corporations adopt rules for automatic exchange of tax information between, the elements of which will be seen in different countries in 2015. Standardizing of taxing will take 1.5 years.
Zuyev reported that the summit focused on financial regulation. The road map to combat shadow economy, road map fornew standards of banking and other economic spheres and the initiative to modernize RTS transparency were some of the most significant documents.
Rakhmangulov emphasized that G20 leaders had finally started understanding the connection of economic growth and workplaces. Economy is driven by workplaces. The government should give people jobs, instead of helping people find them, he assumes. The expert noted that a lot of time was devoted to discussions of corruption, ratification of UN conventions to fight corruption.
Larionova said that, according to G20 announcements, efforts will soon be put into economies of developing states, food security, expansion of access to financial services, development of human resources and mobilization of inner resources to prevent erosion of the tax base, investments in infrastructure, problems of the state debts, reduction of inequality and strengthening of social protection.
