Mr. Hardt is encouraged by parliament's preliminary approval of the government's economic program. However, specific measures concerning tax policy and enterprise restructuring will not be implemented until September at the earliest. Janine Wedel, a professor at George Washinton University who has written extensively on corruption in Russia, anticipates no great changes in Russia's overall approach to the rule of law. My suspicion would be that he is under pressure to demonstrate both for domestic and international consumption that he is interested in the rule of law and must therefore pay lip service to this rather vague notion of the rule of law. But purely on economic grounds the early results of the Putin presidency have been positive.
Inflation seems to be under control.
Tax revenues are up. Russia is keeping current on its debt payments to the International Monetary Fund. U-S Treasury Secretary Larry Summers this week welcomed Russia's healthier budget and rising reserves. But he said the substantial improvement in Russia's economy can't be sustained without establishing the rule of law and enforceable property rights.