Christopher Weafer, chief equity strategist with Alfa Bank, Russia's largest privately owned bank, gave Izvestia the approximate date of 2007 for the amendments to be made.
The paper wrote that, according to Weafer, Putin would rely on strong public support to amend the constitution, which is why all the political forces both inside and outside the country will agree to the move. Investors will only be too happy to see stability maintained and crises avoided, Weafer said.
Businessmen will most likely back Putin at the 2008 election, as the president has struck some sort of "peace deal" with leading entrepreneurs. So long as the government fulfils its commitment not to attack businessmen and keep officials in check, support for the opposition and political and economic instability will not correspond to the business community's interests.
Weafer said he saw no reason for any major social or political disturbances in at least the next two or three years, considering the current high prices for oil and natural gas on the world markets.
The state, however, should spend more on providing sustainable economic growth, which will make it possible to increase the national wealth and raise revenues in the sectors that are not linked to oil production. The government should also meet its promise to encourage growth in all economic areas to provide higher employment in the long term.
There are more signs today that foreign investors, just like Russian businessmen, no longer fear investing in the Russian economy. The process will most likely continue by force of inertia until the result of the 2008 election is announced, as investors will need to make sure that no political instability or serious changes will follow, Weafer concluded.
