In an anti-climax to rising expectations of his return to big politics, one of Russia's most respected economists and policymakers Alexei Kudrin will be appointed head Russia’s Audit Chamber, RBC business potal and Vedomosti daily reported on May 11 citing unnamed sources.

Previously unconfirmed reports suggested that a comeback is being prepared for Kudrin with an important post in either the new government or the presidential administration, sparking hope that Kremlin will play its reformist "joker" in the pack, determined for decisive action in long overdue structural economic reforms.

Kudrin is one of the most respected figures in Russian government and also appeals to international investors. He is the author of much of the programme president Vladimir Putin has adopted for his next six years in office.

However, analysts were disappointed to see that after his inauguration Putin  reappointed Prime Minister Dmitry Medvedev, reshuffled of an array of familiar faces in the cabinet, and did not give any serious post (such as the Deputy Prime Minister) to Kudrin.

Kudrin himself told Vedomosti that he found the proposal to head the Audit Chamber "a little unexpected" and said he would "think hard" about it. The previous head of the institution was Tatyana Golikova, who was nominated for the Deputy PM for social policy in the new government.

"A disappointment as this will be generally seen as far lower role for him than expected by the market," Vladimir Tikhomirov of BCS Global Market commented as the news on Kudrin's appointment were confirmed by RBC's sources on May 11.

"He will have some influence over the budget process and SOEs [state-owned enterprises] but his main role in the chamber will be limited to controlling how public funds are being spent rather than overseeing strategic changes," Tikhomirov added.

The chamber is a visible institution attached to the parliament that under Golikova produced some outspoken critical reports, such as urging a cut in the state's share in the economy, scrutinising the budget, or its controversial estimate that the cost of Putin’s social and economic promises in his state of the nation speech would cost a massive RUB8 trillion.

However, the Audit Chamber has no mandate to propel actual reforms or veto policies it finds harmful and the analysts surveyed by the daily see the move as downplaying Kudrin's possible role as an experienced reformer.

At the same time, the job would allow Kudrin to promote his ideas and policies "from the inside", rather than from his think-tank Centre for Strategic Research, and potentially could help him sit the turbulent post-election period out to join the next government.

"Overall, this is better than him remaining on the sidelines but not very inspiring...," according to Tikhomirov.

"But one should also keep in mind that Kudrin's allies and protégé - [Finance Minister Anton] Siluanov and Golikova - will play dominant roles in the Cabinet on economic front, so now we have a trio of pro-market liberals running Kremlin's economic agenda," he added, referring to Siluanov's and Golikova's promotion to Deputy PMs in the new government. 

Kudrin is largely credited with building strong fiscal buffers that helped Russia weather the 2008-2009 crisis and maintain sound government balance that is still the backbone of Russia's sovereign credit ratings. 

He was sacked from the government in 2011 after a public disagreement with PM Medvedev on growing military spending. 

Since then Kudrin remained an influential policymaker and in the run-up to the 2018 presidential election co-chaired the presidential economic council and headed the Centre for Strategic Research (CSR) think-tank, which penned a so-called Plan K economic development strategy that was a basis for Vladimir Putin's pre-election address.