Glt; Speak up

  1. l. Discussion problems.

Use supplementary vocabulary while speaking on the following problems.

  1. Russia has been granted a market-economy status.
    What image should a country have to gain such recognition?
  2. What do you know about the relationship between Russia and EU?

Supplementary vocabulary:

  • to tip the balance in the country’s favour;
  • positive economic and political changes;
  • disrupt the world trade;
  • to bring anti-dumping cases against Russian imports;
  • currency convertibility;
  • to have a pure market economy;
  • the extension of government intervention;
  • to do well out of the current system;
  • to fulfill basic democratic norms.
  1. 2. Read the abstract from the speech of the First Deputy Prime Minister of Russia and Minister of Finance, made at the World Economic Forum in February 2003 and make it as an interview with the western journalist.

The First Deputy Prime Minister of Russia and Minister of Finance outlined the progress Russia has made since the 1998 crisis: economic performance, inflation and productivity in 1999 not only improved substantially but came in better than even the government had expected. Tax rates (e. g., maximum profits tax) had been reduced and tax revenues increased; in fact receipts were above target for the first time. He said Russia fulfilled all agreed fiscal and monetary targets in 1999, and thanked the experts from international financial institutions for their help. The priorities will continue to be on such goals as achieving economic and social predictability, establishing a legal framework for the economy and removing obstacles to competition.

He acknowledged that the structural reforms were still not accomplished.

Modern management methods need to be implemented, and energy and raw materials used are high by international standards. But with its well-educated human resources base, Russia could play an important role in the new high-tech economy with sufficient capital and foreign investment.

The State Duma elections showed that democratic institutions are taking hold in Russia and allowing alternative views to be put to debate, and the government resulting from the pending presidential elections could be expected to pursue a new, ambitious reform process.

  1. 3. Place the given below words and expressions into the appropriate columns, give their Russian equivalents and use them in your own sentences defining the perspectives for the Russian economic growth:
  • to bog down the reforms;
  • inflation;
  • recovery;
  • ad hoc taxes;
  • growing fiscal deficit;
  • rebound;
  • to slash red tape;
  • to diversify;
  • boost;
  • to promote innovations;
  • to be stunted and distorted deregulation;
  • to cut payroll charges;
  • to abolish subsidies;
  • to squander;
  • sustainable growth.
Stimulus for the economic growth Hurdles for the economic growth
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Источник: Е. Н. Малюга. Английский язык для экономистов: Учебник для вузов / Е. Н. Малюга, Н.              В. Ваванова, Г. Н. Куприянова, И. В. Пушнова. — СПб.: Питер,2005. — 304 с.: ил.. 2005

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