Alexei Kudrin facts for kids
Quick facts for kids
Alexei Kudrin
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Алексе́й Ку́дрин
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Kudrin in 2020
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| 4th Chairman of the Accounts Chamber | |
| In office 22 May 2018 – 30 November 2022 |
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| Preceded by | Tatyana Golikova |
| Succeeded by | Galina Izotova (acting) Boris Kovalchuk |
| Minister of Finance | |
| In office 18 May 2000 – 26 September 2011 |
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| Prime Minister | Mikhail Kasyanov Viktor Khristenko (acting) Mikhail Fradkov Viktor Zubkov Vladimir Putin |
| Preceded by | Mikhail Kasyanov |
| Succeeded by | Anton Siluanov |
| Deputy Prime Minister of Russia | |
| In office 18 May 2000 – 9 March 2004 24 September 2007 – 26 September 2011 |
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| Personal details | |
| Born | 12 October 1960 Dobele, Latvian SSR, Soviet Union (now Latvia) |
| Political party | Independent |
| Other political affiliations |
Civil Initiatives Committee (2012–) |
| Alma mater | Leningrad State University Russian Academy of Sciences |
| Signature |  |
Alexei Leonidovich Kudrin (born 12 October 1960) is a well-known Russian politician and economist. He is known for his work in finance and government. From 2018 to 2022, he was the Chairman of the Accounts Chamber of Russia, which checks how the government spends money. Before that, he served as the Minister of Finance from 2000 to 2011. Since December 2022, he has been an advisor at Yandex, a major technology company.
Kudrin studied finance and economics at university. He then worked in the city government of Saint Petersburg. In 1996, he started working for the President's office. He became Finance Minister in May 2000 and held this job for 11 years. This made him the longest-serving Finance Minister in Russia after the Soviet Union. He was also a Deputy Prime Minister for some of that time. As Finance Minister, Kudrin was praised for managing Russia's money carefully. He also worked to improve taxes and the government's budget.
Under Kudrin's leadership, Russia paid off most of its large foreign debt from the 1990s. This meant Russia had one of the lowest foreign debts among big economies. A lot of the money from oil exports was saved in a special fund called the Stabilization Fund of the Russian Federation. This fund helped Russia deal with the global financial crisis of 2008–2009 much better than many expected. Kudrin received several awards for his work, including "Finance Minister of the Year 2010" from Euromoney magazine. He left his position as Finance Minister in September 2011.
From 2011 to 2022, Kudrin was the dean of the Faculty of Liberal Arts and Sciences at Saint Petersburg State University. He also helps lead the boards of trustees for the Mariinsky Theatre and the European University at St. Petersburg. He holds a high rank in government service.
Contents
About Alexei Kudrin
Early Life and Education
Alexei Kudrin was born on 12 October 1960 in Dobele, which was then part of the Latvian Soviet Socialist Republic. His father was Russian and his mother was Latvian. His first job was as a motor mechanic. He later went to Leningrad State University to study economics.
He finished his studies in 1983. In 1985, he continued his education at the Institute of Economics. He earned his PhD there. After that, he worked as a researcher. Kudrin has written more than 15 academic papers about economics and finance. These papers include topics like competition and how markets work.
Work in Saint Petersburg
From 1990 to 1996, Kudrin worked in the city government of Saint Petersburg. He worked under the mayor, Anatoly Sobchak. His first role was vice chairman of the Committee for Economic Reform. He held various financial jobs in the city government.
From 1993 to 1996, he was promoted to deputy mayor. Vladimir Putin, who later became president, was also a top deputy mayor in Saint Petersburg at that time. Kudrin was also in charge of the city's Economic and Finance Committee.
Working for the President
In August 1996, Kudrin started working for the President's office. He became a deputy chief of the presidential administration. He also led the Administration on Trade, Economic and Scientific-Technological Cooperation.
In March 1997, he became the first deputy finance minister. On 28 May 2000, the new president, Vladimir Putin, appointed him as the Finance Minister. Besides being Finance Minister, Kudrin also served as a deputy prime minister from 2000 to 2004 and again starting in September 2007.
Finance Minister Role
Kudrin was Russia's Finance Minister from May 2000 to September 2011. He was part of a group of economic reformers who worked with Putin in Saint Petersburg. Experts like John P. Willerton see Kudrin as a key person who helped shape Russia's economic policies.
Careful Money Management
During Putin's time as president, Russia managed its economy very carefully. Extra money from oil exports was put into special funds. The Stabilization Fund of the Russian Federation is widely seen as Kudrin's idea. This fund is considered one of his biggest achievements.
The Stabilization Fund was later divided into the Reserve Fund and the National Welfare Fund in 2008.
In 2005, Kudrin disagreed with Prime Minister Mikhail Fradkov about cutting a tax called VAT. Fradkov wanted to lower it, but Kudrin argued that it could make the Russian currency less stable. He also worried it would force the government to use money from the stabilization fund. In the same year, Kudrin won the "Finance Minister of the Year 2005" award.
On 21 August 2006, Russia paid off its debts of $23.7 billion to the Paris Club. Many praised Kudrin for his strong efforts to repay this debt. He was also credited with managing the Russian currency (the ruble) well. This helped prevent some economic problems. In 2006, he received another award: "Best Finance Minister of a Developing European Country."
Kudrin faced criticism from others in the government who wanted to spend the money on developing the country. However, Kudrin's careful approach won out. These savings later proved very important. They helped Russia get through the financial crisis in a much better condition than many had predicted. Kudrin was widely praised for these policies.
Other Policy Ideas
Kudrin often supported selling state-owned companies to private owners and reducing the government's role in the economy. However, he also supported creating "national champions," which are large companies that are important to the country.
He believed the government's role in the oil industry should not grow too much. He said that the government buying some oil companies was a special step to reorganize the industry. Kudrin also supported raising the retirement age and reducing government paperwork. He often faced criticism for his policies, especially from the United Russia party, which he chose not to join.
The Global Financial Crisis
After the global economic crisis in the late 2000s, Russia's government budget had a deficit (spent more than it earned) for the first time in years. Kudrin said the deficit would be covered by borrowing more money. Russia borrowed $5.5 billion from international markets in April 2010.
Kudrin aimed for a budget with no deficit by 2015. He warned that the Reserve Fund, which was built up before the crisis, would run out. He said Russia would soon have to be like other countries and use its money more effectively.
Finance Minister of the Year 2010
In October 2010, Euromoney magazine named Kudrin "Finance Minister of the Year 2010." The magazine called him an excellent financial manager. They praised his support for free markets and careful spending.
Euromoney also noted that the Stabilization Fund, which Kudrin created, helped Russia pay off its foreign debt early. The magazine also praised his efforts to reform taxes and the budget, and Russia's goal to join the World Trade Organization (WTO). Kudrin said he felt satisfied when his work was praised by experts.
Return to Academia
After leaving his government role in September 2011, Kudrin became the Dean of the Faculty of Liberal Arts and Sciences at St. Petersburg University until May 2022. He also continued his work as co-chairman of the board of trustees for the Mariinsky Theatre. He also chaired the board of trustees for the foundation of the European University at St. Petersburg.
Political Activities
Kudrin leads the Civil Initiatives Committee. This is a group that works to promote human rights and help develop Civil society in Russia. He has spoken about the need to change laws that affect these groups.
2014 Sanctions
In November 2014, Kudrin said that some restrictions placed on Russia had already seriously affected its economy. He believed it would take many years for foreign investment and trust in the Russian currency to return.
Chairman of the Accounts Chamber
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After the 2018 Russian presidential election, Kudrin was nominated to become the Chairman of the Accounts Chamber of Russia. This role involves checking how the government spends its money. Many people thought this move meant there would not be big economic changes in the government.
On 22 May 2018, the State Duma (a part of the Russian parliament) approved Kudrin for the job. He received 264 votes in favor. On 25 September 2019, Russia took over the leadership of the International Organization of Supreme Audit Institutions, and Kudrin became its president.
On 29 November 2022, Alexei Kudrin announced he would leave his role as chairman of the Accounts Chamber. He wanted to work in the private sector. The next day, the Federation Council (another part of the Russian parliament) officially removed him from the position.
Kudrin and Yandex
In September 2022, news spread that the founder of Yandex, Arkady Volozh, had offered Kudrin a job. Volozh reportedly offered Kudrin a share of the company to help divide it into two parts. One part would focus on self-driving cars and operate in Europe. The other part of Yandex would stay in Russia. There were also rumors that Kudrin might lead the Russian part of Yandex.
In November 2022, President Putin asked for Kudrin to be dismissed from his government role. On 9 December 2022, Kudrin officially started working at Yandex as an advisor for corporate development.
Personal Life
Kudrin has been married twice. He has a son from his current marriage and a daughter from his previous marriage. For fun, he enjoys playing tennis, swimming, and listening to music.
Images for kids
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Kudrin in 2020
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Alexei Kudrin's signature
See also
In Spanish: Alekséi Kudrin para niños
