The Man to Revitalize Russia’s Economy

The Russian economy has fallen significantly in the past decade. Alexei Beltyukov, Advisor of the Skolkovo Foundation, has found ways to reverse this slump into growth.

Even before the Crimean standoff, Russian Economy Minister Alexei Ulyukayev reported that Russian economic growth was only 0.8 percent in the first quarter of 2014, far lower than the forecasted 2.5 percent.

This first quarter of 2014 also saw the ruble drop by 9 percent against the dollar, which increased import costs to cause more economic damage.

Russia’s Finance Minister, Anton Siluanov, told RT that 2014 GDP growth could “be around zero.”

The toxic environment for entrepreneurs is at the root of Russia’s economic problems. Professionals from Russia have sought refuge in Eastern Europe at increasing rates, says Katya Ponomareva, a head investment consultant in Latvia and Bulgaria.

With more Russians leaving the country, Alexei Beltyukov understands that the Russian economy needs to be repaired now.

Alexei Beltyukov advocates for celebration of entrepreneurs in Russia. He suggests that the Russian government establish support systems for small businesses and entrepreneurs.

As a founder of the Skolkovo Foundation, Alexei Beltyukov has been a leader in improving the Russian economy. The Skolkovo Foundation is a government-authorized organization and fosters technology, business and innovation throughout Russia. By providing technology opportunities, Alexei Beltyukov provides entrepreneurs with opportunities he never had living in the Soviet Union.

They also report that the business development program of the Skolkovo Foundation has led to the creation of over 13,000 new jobs.

The success of the Skolkovo Foundation comes from its mission to create economic growth in the Russian economy. Alexei Beltyukov believes that entrepreneurs bring hope to the Russian economy and that through entrepreneurship they will drive the Russian economy back to growth.