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1.基建投资连年滑坡1992年投资下降45%,1993年下降16%,1994年下降27%,这一状况近年来难以改变。那是因为(1)财政赤字高达GNP的10%;(2)担心增加投资会导致通货膨胀反弹;(3)企业70—80%的利润已纳入国家预算;(4)居民储蓄大幅度减少;(5)企业和个人大量资金(200—300亿美元)外流;(6)引进外资进展困难。2.经济结构调整困难俄70%企业与军工生产有关,如此巨大的经济结构调整需投资1500亿美元,目前不仅缺乏资金,而且难以承受调整期的经济停滞和结构性下降。3.支柱产业严重衰退1992—1994年,石油开采连年下降了14%、12%、6%;木材减产了13%、25%、34%。能源和原材料工业的萎缩不仅直接影响了其他重要经济部门(如钢铁、化工、建材工业)的发展,而且造成出口量减少,影响进口能力和外汇收入。
1. Investment in infrastructure has been declining year after year Investment declined by 45% in 1992, by 16% in 1993 and by 27% in 1994, a condition that has been difficult to change in recent years. That is because (1) the fiscal deficit is as high as 10% of the GNP; (2) there is concern that an increase in investment will lead to a rebound in inflation; (3) 70-80% of the profits of enterprises are incorporated into the state budget; (4) (5) A large amount of capital (20-30 billion U.S. dollars) has been drained by enterprises and individuals; (6) the progress made in introducing foreign capital has been difficult. 2. Difficulties in Adjusting Economic Structure 70% of Russia’s enterprises are related to military production. Such a huge economic restructuring requires a total investment of 150 billion U.S. dollars. At present, it is not only lack of funds but also difficult to withstand the economic stagnation and the structural decline during the adjustment period. 3. A serious recession in pillar industries During 1992-1994, oil exploration dropped by 14%, 12% and 6% year-on-year. Wood output was reduced by 13%, 25% and 34% respectively. The shrinking energy and raw material industries have not only directly affected the development of other important economic sectors (such as steel, chemical and building materials industries), but also led to a decrease in exports, affecting import capacity and foreign exchange earnings.