Financial news

Nabiullina is Expecting Russian economy recovery in 2010

06 апреля 2009 г.

The head of Ministry of Economic Development has predicted the recovery of Russian economy in 2010. This is what she has announced to the press.

“We rely on the year of 2010 to be a year of some recovery for the Russian economy”, she said.

The Minister added that much will depend on “how the external environment will develop” as the measures of the government couldn’t entirely compensate the fall of the external demand. According to the Minister, some steps are taken now to develop the external demand and import substitution to make Russian economy “count more on itself”.

Answering the question if the business in 2011 will have enough bankroll to overcome the increase in tax load connected with reform of The Single Social Tax, the Minister announced that she’s counting on the effect of crisis management arrangements adopted by the government.

“We assume that in 2011 business will receive additional opportunities”, she said.

Nabiullina also reported that the government of the Russian Federation will consider the improved programme of crisis management this Thursday.

According to her, in the course of the discussion a lot of proposals were received. The Ministry studied a considerable part of them including proposals on reducing administrative barriers in reinforcement of antimonopoly actions. Also there have been made changes in the section concerning the development of technological potential and innovations, new suggestions in housing sector have been taken into consideration.

In particular, according to the Minister, the additional financing of Mortgage Agency will be taken into consideration in the programme.
 

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