In connection with a deepening financial and economic crisis, the Russian government intends to allocate another 40 billion dollars to support the banking sector, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin said at the opening of the Asian Financial Forum today.
In connection with a deepening financial and economic crisis, the Russian government intends to allocate another 40 billion dollars to support the banking sector, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin said at the opening of the Asian Financial Forum today.
According to Kudrin, anti-crisis measures taken by Russia are first of all based on support for liquidity of banks, capitalisation of the banking system.
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"This is the most vulnerable chain of the financial system for the economy," the top official noted. "We have allocates sizable resources in the amount of about 40 billion dollars for capitalisation of banks. I think that in the near future we shall have to increase this amount by the same figure," he stressed.
"We are preserving and will preserve stability of the banking system. We have necessary resources for that," the finance minister stressed.
He also said that in conditions of the global financial and economic crisis the growth rate of Russia's economy this year can slow down to zero-two percent.
"Last year, Russia's economic growth was six percent. In 2009, we expect positive numbers, but at the level of zero to two percent. These new estimations are connected with the assessment of the world economy and a demand for Russian exports," Kudrin said.
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