Page 77 - RusRPTApr23

The departure of the majority of businessmen from the board of the RSPP by formal reasons - the fact that they left management positions in their companies due to sanctions. This, however, is true only for some of them - Alekperov, Fedun and Konov really left their leading positions in their companies, and Agalarov remained the president of Crocus (the company does not even hide the "management" section on its official website - this is already an infrequent case for Russian big business).
On the board of the RSPP, the freshly sanctioned Alfa was always represented by Pyotr Aven, he was also present at the last meeting of big business with Putin on the first day of the war, February 24, 2022. But now Aven and Alfa's largest shareholder, Mikhail Fridman, are abroad, and Andrey Kosogov, their minority partner, has become the official collector of billionaire assets in Russia.
4.4 Fixed investment
Russia -Fixed capital investment 2012 2013 2014 2015 2016 2017 Mar-2018
Investment (% of GDP)
24.3 22.9 22.0 21.4 22.5 23.5 15.3
GDP: Gross fixed investment capital formation (USD mn)
471,337 496,982 428,573 276,240 280,350 342,294 58,303
source: CEIC
Russia's economy has been on a rollercoaster ride in recent years. After experiencing a recession in 2020, the country's fixed investment has since recovered and grown briskly.
In 2021, fixed investment was already several percent higher than pre-pandemic levels in 2019, investments that support future economic growth were only at 2012-2014 levels due to a sharp decline from autumn 2013 to early 2016, followed by tepid performance, Bank of Finland Institute for Economies in Transition (BOFIT) reports in its weekly update.
To most observers’ surprise, fixed investment continued to rise in 2022 in real terms, with a growth rate of over 5% measured in terms of fixed capital formation and about 4.5% according to Russian statistics on fixed investment. Despite the unprovoked invasion of Ukraine, which caused a significant slowdown in the pace of growth in winter 2021-2022, investment in April-December 2022 was still up by a couple of percent from a year earlier, according to BOFIT.
However, the overall rise in total fixed investment disguises differences in
77 RUSSIA Country Report Russia April 2023 www.intellinews.com