Economics
Putin’s Maverick Adviser Defies Nabiullina With $64 Billion Plan
- Glazyev warns ‘shock therapy’ policies taking toll on economy
- Stimulus can make 8% growth possible, president’s adviser says
Sergei Glazyev
Photographer: Olga Maltseva/AFP via Getty ImagesThis article is for subscribers only.
Sergei Glazyev agrees with President Vladimir Putin that shock therapy would be ill-advised for Russia. Which is also where he parts ways with his boss.
Ever since the central bank’s shift to a free-floating exchange rate in late 2014, the country has been under the onslaught of policies that have “elements of shock therapy in the guise of inflation targeting,” said the president’s economic adviser and a former candidate to lead the Bank of Russia.