Abu Juwairiya
Junior Member
"Transparency International estimates the annual cost of bribery to Russia at $300 billion, roughly equal to the entire gross domestic product of Denmark, or thirty-seven times higher than the $8 billion Russia expended in 2007 on 'national priority projects' in health, education and agriculture...
'110 billionaires control 35 per cent of the country’s wealth.
And these billionaires, far from being titans of industry motoring the modernization of the
Russian economy, have secured and increased their wealth by relying on and bolstering the
centralized power of the state. The wealth of the oligarchs and political elites who came to power with Putin in 2000 has been more stable than in any other G7 country; they have made millions, though some have also lost as much.
Political leaders close to Putin have become multimillionaires, and the oligarchs around
them, according to Forbes Russia, have become billionaires. They are able to maintain that power and wealth as long as they don’t challenge Putin politically. Under this system, the state absorbs the risk, provides state funds for investment, and gives those close to the Kremlin massive monetary rewards.
With the return under Putin to state capitalism, the state nationalizes the risk but
continues to privatize the rewards to those closest to the president in return for their loyalty." (Source: "Putin's Kleptocracy: Who Owns Russia" By Karen Dawisha, Pages 9-10, 2014)
'110 billionaires control 35 per cent of the country’s wealth.
And these billionaires, far from being titans of industry motoring the modernization of the
Russian economy, have secured and increased their wealth by relying on and bolstering the
centralized power of the state. The wealth of the oligarchs and political elites who came to power with Putin in 2000 has been more stable than in any other G7 country; they have made millions, though some have also lost as much.
Political leaders close to Putin have become multimillionaires, and the oligarchs around
them, according to Forbes Russia, have become billionaires. They are able to maintain that power and wealth as long as they don’t challenge Putin politically. Under this system, the state absorbs the risk, provides state funds for investment, and gives those close to the Kremlin massive monetary rewards.
With the return under Putin to state capitalism, the state nationalizes the risk but
continues to privatize the rewards to those closest to the president in return for their loyalty." (Source: "Putin's Kleptocracy: Who Owns Russia" By Karen Dawisha, Pages 9-10, 2014)