The European Bank for Reconstruction and Development yesterday published a report on the progress of reforms in its member states. From September 2003 to September 2004, the banks experts counted exactly 27 reforms in the post-socialist space but they were spread very unevenly. In southern Europe, Vedomosti writes, 15 reforms were implemented, with Croatia, Romania and Bulgaria in the lead with three reforms each. According to EBRD data, the CIS countries have carried out only seven reforms, with Kyrgyzstan leading the way with two. A year earlier, t| Ads |  |
he EBRD counted 19 reforms in its member states.
Russias progress has been modest in comparison with the leading southern European countries and Kyrgyzstan. EBRD economists attribute the slower reforms to the parliamentary and presidential elections. Meanwhile, the conflicts between authorities and business, especially the tax evasion charges against the Yukos oil giant, have had a negative impact on investors and put ownership rights under a question mark, EBRD experts believe.
According to the EBRD, the Russian government has been able to conduct only one reform this year: it has divided the functions of the railways regulator and the railways operator by separating the Russian Railways joint stock company from the Railways Ministry. At the same time, they gave a 2+ mark to the Russian banking sector (on a scale of 1 to 4+ points).
"The reforms have come to a halt," Yevgeny Gavrilenkov, the chief economist at Troika Dialog, says. However, the EBRDs criticism, in his opinion, will hardly lead to the resumption of reforms. "Officials rarely react to advice on time while reforms will accelerate only after we have a new shake-up," the analyst believes.
MOSCOW, Nov 10 (RIA Novosti)
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