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Economic Expert Group (EEG) is an independent analytical center with focus on macroeconomic and fiscal policy issues. Economic Expert Group was established in 1997 and incorporated the experts that had been rendering analytical support to the Department of Macroeconomic Policy of the Ministry of Finance of the Russian Federation within the framework of international projects since 1994. Since its birth and up to present time EEG has been working in close everyday contact with the Government (primarily with the Ministry of Finance and the Ministry of Economic Development), the Central Bank and Presidential Administration. The Head of EEG Evsey Gurvich is a member of the Economic Council under the President of the Russian Federation; Deputy Chairman (2011-2017) and later a member the Public Council at the Ministry of Finance of the Russian Federation. EEG has also close relations with legislative bodies: EEG is represented in the Duma Expert Boards and participates in Parliamentary hearings regularly conducted by Duma and the Council of Federation. In 2014-2015 the Head of EEG Evsey Gurvich was a member of the Supervisory Board (the Board of Directors) of the Central Bank of Russia.

 

According to the weekly Itogi the former Head of EEG (A.Dvorkovich) and the present Head of EEG (E.Gurvich) are among key economic policy- makers.

 

The magazine Profile placed EEG in the top five most influential expert institutes in Russia.

 

Economic Expert Group is also included in the rating of the world's leading analytical Centers, annually developed by the University of Pennsylvania. By the end of 2015 EEG takes 34th place among the analytical centers in Central and Eastern Europe.
The main fields of research and consultancy carried out by EEG include:

    1. Forecasting of Russian economy development,
    2. Creation and implementation of current and medium-term fiscal policy,
    3. Improving the budget process and intergovernmental fiscal relations,
    4. A comprehensive assessment of the monetary and exchange rate policy,
    5. Analysis and advice on other problems of macroeconomic policy,
    6. Public debt management at the Federal, regional and municipal level
    7. Structural reforms in the public Finance,
    8. Analysis and monitoring of major trends in the Russian economy,
    9. Development of recommendations on issues of long-term economic development,
    10. Analysis and forecasting financial sector development,
    11. Cooperation of Russian Federation with international organizations ("Big twenty", BRICS, IMF, world Bank, OECD, APEC, EBRD, etc.) on economic issues.

 

EEG provides the Government with short-, medium- and long-term economic projections, analyses scenarios of fiscal policy, evaluates the process of tax reform, simulates inflation trends. Since 1994 up to now EEG prepares monthly reviews of Russian economy, which  the Ministry of Finance presents to the Government, Central Bank  and Duma. In 2011 EEG experts participated in the work of expert groups, formed by the Government to develop Strategy 2020. Evsey Gurvich, Head of EEG, chaired one of these groups - Fiscal and Monetary Policy.

EEG has developed a broad range of models for economy as a whole, or for particular indicators (inflation, exchange rate, fiscal revenues, etc). In the period of financial crisis the Group constructed a number of leading indicators of financial risks.

 

An important part of EEG activities concerns public debt management. The Group developed a series of macroeconomic forecasts for the negotiations of the Government with the Paris and London Clubs of Creditors. EEG experts participated in these negotiations, which resulted in writing-off foreign debt of the former USSR in the amount of over USD $ 10 billion and restructuring the rest part of this debt. EEG has prepared description of the Russian economy performance for all Offering Circulars of the sovereign Eurobonds of the Russian Federation. EEG regularly contributes to the development of recurrent Public Debt Management Strategies by the Government.

Since the assumption of Russia's sovereign credit rating (in 1996) up to 2008 EEG provided its analytical support, preparing rating presentations and providing rating agencies with information and analytical support.

 

EEG is deeply involved into preparation of economic reforms. EEG experts were among key participants in the development of the long-term governmental economic program in 2000 (Grefs program). In 2011-2012 EEG experts participated in the work of expert groups formed by the government to finalize the "Strategy 2020". The Head of EEG E. Gurvich led a group of "Budgetary and monetary policy, macroeconomic parameters of development of the Russian economy". In 2012 by the Decree of the President of the Russian Federation E. Gurvich was awarded the Medal of Honor for his great contribution to the development of a socio-economic strategy of Russia for the period up to 2020. In 2016 by order of the President of Russia E. Gurvich was included in the working group of the Economic Council under the President Priorities for structural reforms and sustainable economic growth. Since 2016 EEG experts have been actively involved in the Centre of Strategic Development preparation of the new program of the socially-economic development of the country. In addition, EEG participated in the preparation of the long-term budget strategy, pension reform, reform of intergovernmental fiscal relations, tax reform, the development of the budgetary rules, mechanism of the Stabilization Fund and later the Reserve and National Welfare Funds, etc.

 

Practically from the very beginning EEG was involved in realization of the reform of the RF budgetary system aimed at implementation of performance budgeting and medium-term budget planning. EEG experts took part in preparation of the performance reports of a number of Federal agencies including the Ministry of Finance.

 

EEG continuously collaborates with regional Administrations. In particular, EEG has worked for Administrations of Bashkortostan Republic, of Sakha (Yakutia) Republic, Karelia, Mariy-El Republic, Khabarovsk krai, Samara, Ivanovskaya and Tverskaya oblasts. The Group has elaborated the programs of regional public finance development, consulted on optimization of sub-federal fiscal policy, constructed models of debt management, developed borrowing strategies, prepared analytical materials for obtaining international credit ratings for some regions, etc.

Starting 2014 EEG together with The Center for Macroeconomic Analysis and Short-term Forecasting (CMASF) have been involved in the research and analysis on economic policy and development of Moscow for the Moscow government.

 

Together with the international rating agency Fitch Ratings EEG has developed a new scheme of regional and municipal debt management in the framework of reforming sub-federal public finance system. A standard legislative and methodological base was elaborated to manage debt, contingent liabilities and related risks at sub-federal level. The significant part of the results has been implemented in the regions participating in the project: in Chuvash Republic, Vologda and Cheliabinsk oblasts.

 

Besides EEG developed an evaluation scheme for regional budgets which was used by the Ministry of Finance for selection of regions eligible for the World Bank support program. On request of the Ministry of Economic Development and Trade the Group elaborated the methodology to evaluate tax and financial potential of the RF subject, including the assessment of the quality of regional budget management.

 

EEG activities are not only connected with problems of Russian economy: for instance, in 2003 - 2004 on request of the Government of the Republic of Kasakhstan EEG experts elaborated macroeconomic model of Kasakhstan economy. In 2008 EEG experts carried out a research of competitiveness problems of Kasakhstan economy.

 

A row of projects has been carried out by EEG for business. In particular, under the contract with the state Corporation Rosatom an assessment of the contribution of nuclear energy complex in the Russian economy has been realized; the macroeconomic forecasts for Gazprombank and SUEK have been developed, a forecast of the budgetary performance has been developed under the contract with United Aircraft Corporation (UAC), a model of long-term forecasting of macroeconomic indicators has been built for TNK-BP.

 

EEG has a significant experience in participation in the projects of international organizations such as the World Bank, TACIS, the United States Agency for International Development (USAID), British Department for International Development (DFID).

Among EEG partners in projects realization there were KPMG, Fitch Ratings, Sofreco (France), Global Insight (USA), ECORYS (Netherlands) as well as Russian organizations. A full list of projects, carried out by the Economic Expert Group, can be found in "Projects" section.

 

EEG experts are graduated from the top Russian universities and economic schools (New Economic School, Higher School of Economics, Moscow State University), some have been trained at American or European universities. Many experts hold Ph.D. degree. EEG experts regularly participate in the World Bank and IMF courses. All of them are fluent in English, some speak also other foreign languages.

 

Professional merits of EEG team have high public appreciation: at present a number of the former EEG experts work in the state administration bodies (A. Dvorkovich is a Deputy Prime Minister of the Russian Federation, E. Lebedinskaya is a Head of the Revenue Department of the Ministry of finance of the Russian Federation). Many former EEG experts work successfully in the banks and companies, for example J. Tseplyeva is a senior economist of the Sberbank.

 

EEG maintains permanent working partnership with the representatives of IMF, the World Bank, OECD, European Commission, EBRD, embassies of the leading countries as well as with Russian business unions such as The Russian Union of Industrialists and Entrepreneurs (RSPP) and Business Russia. EEG experts closely collaborate with the analysts of the largest world investment banks: City Group, Bank of America-Merrill Lynch, Morgan Stanley, Deutsche Bank, UBS, HSBC, J.P.Morgan, ING Barrings, Barclays Capital, BNP Paribas, Unicredit, etc. Long-term partnership connects the EEG with the leading international rating agencies Standard and Poor's, Moodys, Fitch.

 

EEG experts are highly involved in public discussions of economic problems.  EEG is regularly addressed by leading Mass Media, including Vedomosti, Kommersant, Rossiiskaya gazeta, Russian News Agency Izvestiya, Interfax, Posbizneskonsulting. EEG experts are quoted and referred to by international news agencies and publishers: Reuters, Associated Press, Bloomberg, Financial Times, Wall Street Journal, Economist. Beginning 2016 E. Gurvich is a columnist for "Rossisiiskaya gazeta".

 

EEG experts regularly give interviews at national TV channels (Pervy kanal, Vesti-24, TV Russia 1, Pyatyi kanal, Dozhd (TV Rain) and business TV channel RBK-TV; they participate in press-conferences and round tables, publish their articles and interviews in professional journals. According to the magazine "Kommersant-Vlast" EEG takes the third place in the country among analytical centers by frequency of media quatations. A complete list of all the EEG experts articles, interviews and comments in Mass Media and professional publications is given in Russian sections "Выступления-Прочие" and "Публикации-СМИ".

 

EEG works in the close cooperation with a number of Russian and international research centers. The former include the Higher School of Economics, Russian Presidential Academy of National Economy and Public Administration, Gaidar Institute for Economic Policy (Gaidar Institute), The Center for Macroeconomic Analysis and Short-term Forecasting (CMASF), Center of Development, Center of Strategic Developments, Center of Fiscal Policy. The latter include foreign partners among which there are the Institute of International Finance, World Economic Forum, World Institute for Development Economic Study UNU (WIDER UNU), etc. EEG is one of the founders of the Association of Independent Centers of economic analysis of Russia (ARETT). In 2011-2015 E. Gurvich was the President of ARETT.

 

Economic Expert Group combines analytic work and research. In particular, in 2014-2016 EEG experts implemented several researches under A study of economic mechanisms of wages and employment formation in Russia" supported by a grant from the Russian Science Foundation under the program "Fundamental and exploratory researches by individual research groups". In 2016 in the framework of this project the collective monograph "Mechanisms of the Russian labor market" as issued (Publishing House Delo) edited by E. Gurvich and E. Vakulenko. As a result of the Russian labor market studies about 20 scientific publications were prepared.

 

In 2014 E.  Gurvich was awarded the Prize of Yegor Gaidar For outstanding contribution in the field of Economics. In 2015 he was awarded the ARETT Medal For outstanding contribution to the study of modern Russian economy and economic policy.

 

The results of EEG experts researches have being published in the Russian and foreign journals and books. A complete list of all the EEG experts publications is given in section "Публикации - научные".

EEG experts regularly present results of their studies in Russian and international scientific conferences.

The full list of presentations can be found in the section "Выступления-Конференции".

Recent developments concerning Economic Expert Group can be found in the section "Новости"

Phone: (495) 626-4580, 626-4581, 956-8290
E-mail: eeg@eeg.ru
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