Chii recapitalization? Recapitalization kuti chikwereti nemasangano

Kudzidza mubvunzo kuti kuwedzera guru, zvinofanira kutaurwa kuti ichi chinhu muitiro kuti kwakakurumbira chaizvo sezvo chikuru nzira pakubata zvemari uye zvoupfumi zvinetso. States zhinji munguva kubvira 2008 kusvika 2009 akapa mari masangano wokutanga chechetere guru. Nhasi, mutemo iri kuitwa Russia. Kare muna 2008, mari rubatsiro kune voga uye ehurumende-vaiva nemabhengi uye vanoverengeka ezvokutengeserana makambani kwakabatsira nyika kugadzirisa matambudziko akawanda.

Sei jekiseni mari?

The Sumo mari mu kutambudzika mabhanga kwaiitwa nokupira kutenga hurumende vaifarira migove uye namajoko zvemari kuti zvinoenderana pachinzvimbo chevatatu vokutanga chechetere. Recapitalization kuti chikwereti masangano neHurumende kuburikidza kutenga zvavo anogoverana mari nemasangano vakabata ndoda kakawanda. Uchifunga nhamba, tinogona kutaura kuti kubva mabhanga kupfuura makumi mashanu American munguva dzenhamo, 23 chete vakagamuchira mamiriro rubatsiro. In Europe rubatsiro zvapiwa masangano 15 chete, izvo unoenderana 76% uye 40% kuti pre-dambudziko capitalization yacho rwezvemabhengi zvekutepfenyura. Maererano mashoko akapiwa IMF, paavhareji chirongwa recapitalization zvevoruzhinji mari muchirimo 2009 rakanga 3% kubva GDP.

Capital Increase muRussia

Tichifunga kuti ichi kuwedzera guru, tinofanira kutarisa mamiriro ezvinhu kuRussia. President Russian Putin akasaina mutemo pamusoro recapitalization kuti masangano zvemari mune uwandu 1 tiririyoni rubles yakabudisa bhuku rainzi OFZ (yeUnited chikwereti zvisungo). Maererano nevanyori mutemo, pfuma zvipo zvinofanira kuitwa kuti Deposit Insurance Agency. It, zvichaita kutumira mari mabhanga kuita mitoro vavo zvatinoita chikwereti muripo depositors, zvikwereti uye chisungo chikwereti. Mari kuchabudirira kune nzvimbo mugove. The Hurumende richabva dzinoshandiswa yesarudzo inishuwarenzi BFL iri mari ataurwa pamusoro apa, izvo zvichaita kuti kuti kutsigira epamba mabhanga ari mudambudziko.

mikana Ko zvisaitika?

The bhiri, maererano iyo chichaitwa recapitalization kuti chikwereti masangano Russia, akanga achigadzirira kwenguva refu. Izvi imhaka yokuti somugumisiro iri kuderera zvoupfumi mamiriro ezvinhu munyika chokuita zvirango pedyo West pasi kava yakarova zvekutepfenyura zvemari. Vanamazvikokota vakawanda vari vachifanotaura kunyange defaulted mumunda uyu. The mari dzinounzwa nokuda rokuchinjwa mari chidimbu, vachaparadzwa zvakasimba kuzvidzora. Izvi zvakanga pamusangano akaronga pamutemo wakarondedzera sachigaro Accounting Chamber Golikova. Gurukota rezvemari Siluanov Zvaifungidzirwa vanoti bhiri pashure zvizere Implementation anofanira kuwedzera yaipedzerwa ari rwezvemabhengi guru kwete asingasviki 13%. Yaipedzerwa chikwereti munguva pfupi iri kutarisirwa kukura nokuda dzinenge 15-20%. Pakaziviswa kuti Ndakatengesa zvose kubva ZILEI OFZ achapiwa redirected kune batana bhajeti.

Kana kubhangi zvinodiwa rutsigiro?

bhangi nomumwe ane guta yayo, chine pachavo mari yacho tsika zvemari. Senzira mari nemasangano vane zvinhu zvinokwezva vanoita uye kupa makambani enzvimbo mumwe woga. Capital Bank anounganidza noruoko kukwezva mari kubva makambani - zvose vanhu uyewo zvokutengeserana hurongwa. He akakwereta. Panyaya iyi, tsika zvemari inopiwa zvikwereti pa dzakakwirira mubereko prices. Musiyano kuripwa mubereko pamusoro zvikwereti uye mubereko pamusoro chikwereti uye zvinopa liquidity wekambani. Munguva dzenhamo, unopinza water drainage kuti guta kubva Russia, anokwereta vazhinji kubhangi, kwete chete haana kudzokera chikwereti, asi asingagoni kuchiripa kunyange mubereko pachiri. Somugumisiro, kukundikana bhajeti kuumbwa, uye kubhengi haasisiri anokwanisa mitoro yavo makambani. Mamiriro ezvinhu kunobatsira recapitalization kuti mabhanga. Chii, chete kunzwisisa. Kutaura zvazviri, uye mune itsanangudzo pamanyorerwo - ndiro muripo kubudikidza mamiriro zvikwereti dzakaipa ine maonero kuchengeta liquidity mari kumasangano ari chemhando chechetere.

Sei hurumende ndiyo recapitalization?

Uchifunga mashoko nyaya hurumende kuti vakadaro kuwedzera guru, muitiro unogona kunzi vachiedza kudzivisa mamiriro mokutya. Kana mari masangano chirwirangwe haangavi kuzadzikisa ayo mitoro nokuda yakaderera guta adequacy, zvichaita kukonzera mufaro. Vanhu massively ngavabude mari kubva deposits mumusiye mari, izvo zvisingagoni kunongokonzera panyatwa ari bhajeti, asi anopa kwakakurudzira simba kusvetuka mapoka. The issuance munhu akaisa chikwereti, izvo zvichaita kuti yakarongwa kuti iitike rienderane wakaiswa guru uye pakuvimbisa kutsiga yose rwezvemabhengi hurongwa, zvinokwanisika kuti zita rokuti "guru kuwedzera". Uye nzira kuti nhasi kwave pasi vanopfuura mumwe bhengi. Saka, kuwedzera musoro kuitwa, "Delta Bank", "Agricultural Bank", "VTB". Uye zvishoma ndandanda mari nemasangano kuti hurumende inotsigira. In nomurayiro, zvinosungirwa pamusoro akaisa chikwereti vakatakudzwa kubva rokupedzisira chijana.

Kuti chokwadi kupa akaisa kwezvikwereti?

Mutevedzeri Sachigaro of Central Bank of Russia Mikhail Sukhov akati recapitalization "Rosselkhozbank" Chokwadi, kufanana nemamwe masangano zvemari, vanofanira kupa rigone kumanikidza mubereko prices iri chaiyo zvoupfumi zvekutepfenyura. Mune ramangwana, izvozvo chichaitwa kudzikamisa pakati zvoupfumi nemauto uye mari pamusika munyika, iyo zvino vava kuda default. The mari kuti achazungunuswa kubva LETSATSI kusvika mabhanga, havafaniri kuva pasi mitero. hurumende yeRussia yave netsika zano kutsigira mamiriro mari wemuTesitamende 2008, izvo zvakaita anoyevedza zvabuda. Chisarudzo kudzivisa kusauka vazhinji zvikwereti masangano, kunze yakawanda makambani kubva vaaida.

Izvo chikwereti masangano anogona kuvimba vatsigire hurumende?

Wakabata pamwe mubvunzo kuti guta yakawedzera mubhangi, unofanira kuteerera chokwadi kuti havasi vose masangano ezvemari vanotsigirwa ne hurumende. List pamusoro Banks anosarudza uye hunotendera LETSATSI. Maererano RBC, pamusoro akaisa zvikwereti kuverenga 27 establishments, guta guru iro haidereri pane mabhiriyoni 25 rubles. Of pamutemo dzinounzwa kutsigira zvemari nemauto 1 tiririyoni rubles, rubatsiro chaidzo kuchaita kwakafanana inosvika mabhiriyoni 830. Mukuru yokuona nayo kusarudzwa makambani kuti chido chavo kuti yekudyidzana vawedzere anomukweretesa kunyatsonzwisisa zvoupfumi nemauto ari pokutanga nzvimbo hurumende. Sezvo kakawanda akataura, recapitalization kuti mabhanga (chii kukurukurwa pamusoro) haina zvainanga kugadzirisa matambudziko ari kunetseka nemari masangano. At rubatsiro zvokunyama vane chinangwa zvakananga.

Mamiriro ezvinhu zvinofanira kutevedzerwa pamahombekombe

The rombo Pamazita zvinosanganisira masangano zvemari, ane mabasa kundosangana mitemo. Ndicho Kuwanikwa guta iri uwandu bhiriyoni 25 rubles, zvakanyorwa pamusoro. Uyezve, kubhengi-munhu akanyorera akanga mumakore maviri apfuura kuti zvinoshingaira kuva anomukweretesa kunyatsonzwisisa nemauto hwenyika. Kuwedzera mirayiridzo anofanira dzinenge 12%. Maererano Kusarudzwa nzira, tsika zvemari vanofanira kuva vanhu vakaoma yokusvika kubhadhara vashandi vavo: shoma yakawedzera mubayiro, shoma remuneration kuti matezo uye revatungamiriri directors. Strict mutemo vanofanira kushanda vari dividend kukarukureta chinoumba makambani. Maererano rokutanga nokufungidzira, rubatsiro achapiwa kuongororwa anotevera nemasangano mari:

• "VTB" Muchagamuchira mabhiriyoni 307 rubles.
• Negadziriro yeparutivi pfungwa "VTB" - mabhiriyoni 193 rubles.
• Retail "mwanasikana" kuti "VTB 24" - mabhiriyoni 65,8 rubles.
• "Bank of Moscow" - mabhiriyoni 49 rubles.

Anti-dambudziko urongwa

Kudzidza mubvunzo kuti kuwedzera guru, zvinofanira kucherechedzwa kuti ichi izwi rinoshandiswa kwete chete pazvinhu chikwereti masangano. rubatsiro rwemari kubva mamiriro anogona kuva-purofiti makambani chero mamwe masangano anobatsira kudzorera upfumi munyika. Chirongwa zvainanga pakurwisa dambudziko, anoronga vanopedza anenge 2.3 tiririyoni rubles. The vakaronga recapitalization wekambani, idzo, nenzira, tsika zvemari harisati kukurirwa, atopiwa kusashanda pakutanga rokutanga kota kwegore rino. Banks kuti kutsigirwa wakatora dzinoverengeka wazvipira. Vanofanira kuwedzera Vhoriyamu chikwereti anomukweretesa pamwero vanenge 1% pamwedzi, kuwedzera uwandu zvikwereti zviduku uye svikiro kadikidiki bhizimisi. Uyezve, mari zvikoro vanofanira kuwedzera rayo guru ne mari yakaenzana hafu vakagamuchira zvadzinoshayiwa. Kurera mubayiro kuna vose zvemari sangano vashandi hazvibvumidzwe kuti matatu akatevera.

Umo sectors iri akaronga kuti ape akaisa kwezvikwereti?

Sezvo nechakare, rubatsiro rwemari zvichagoverwa kwete mabhanga Russian asingasviki 30, kusanganisira uye "VTB". Capital kuwedzera Uchafukidzwa zvinotevera:

• Agriculture - mu uwandu bhiriyoni 10 rubles.
• Automotive indasitiri - mabhiriyoni 5. Zvinoreva bedzi akaramba Implementation purogiramu tsvina utariri.
• Credit dzinopiwa kuti mabhizimisi - mabhiriyoni 5.
• Regions achagamuchira bhiriyoni kutenga motokari wakamhanyira negasi.

The Statistical wehurumende dzakarongwa kusiya munyika yokuzvidzivirira mari, magariro zvekutepfenyura. On pakurwisa kwemabasa iri aronga kubhadhara mabhiriyoni 82,2 rubles. Zvakanga pakutanga aronga vanopedzisira kudzorerwa upfumi neHurumende dzinenge mabhiriyoni 100, asi zvino kwakasarudzwa kupedza pachedu kuti mabhiriyoni 23 chete rubles nokuda zvinoshingaira sectors.

"Gazprom" kubatsira

Kuwedzera issuance kuti akaisa zvikwereti kuti zvemari masangano, purezidhendi rave akamutsa mubvunzo kuti chii dzimwe capitalization kuti "Gazprom" haidereri kukosha. President Russian vaiva imprudence kuti pamutemo vanovimbisa mari kubva hurumende. Kutaura zvazviri bhiri chakarambwa, sezvo vakaona kuti vesangano guru anokwanisa pasina kuwana mari nokuti Implementation chirongwa kuti pavakwe nyere nokuda chokufambisa wokuRussia gasi kuna China. Kuti pave chirongwa yose vanofanira kupedza anenge mabhiriyoni 55, 25 iyo kare akavimbisa kupa China pachayo - ishamwari weUnited Russia BRICS uye SCO. Russian Bazi rezveMari haasi chokwadi rationalism chirongwa, zviri chivimbo nokurasikirwa kwayo, uye recapitalization VEB anotarisa zvikuru kubudirira zvikuru chirongwa. Mukuwedzera, pamusangano nhengo hurumende vakanga vanzwa mashoko kuti hurumende mari vari kuramba vachiwedzera, uye ichi haisi nguva kutambisa rehurumende bhajeti kutsigira mibvunzo zvirongwa.