Russian premier warns against overusing the word crisis
RIA-Novosti
Moscow, 28 October: Russian Prime Minister Vladimir Putin has said that the term crisis is being used too frivolously.
"In order to understand the situation, we should be using terms clearly. I would like to emphasize that many have used the word crisis too frivolously. It has struck the world financial system and Russia is going through its consequences," Putin said when answering questions from readers of the Argumenty i Fakty weekly. The answer will be published in the weekly's Wednesday (29 October) edition.
"The origin of the problem should be looked for in the US, where the system which collapsed had been born. After-shocks from the collapse have reached us among others," Putin said.
He said that the Russian government had set for itself the following tasks - to reduce to a minimum the consequences of the world crisis for Russia, to stabilize the situation and then to embark on a new level of development and modernization for both state and private entities on the market.
"One of the main priorities for the government at the present stage is to maintain the backbone sectors of the economy. The assistance is not only about providing necessary liquidity support to companies but also about adopting legislative measures," Putin said.
"We are talking about the areas of business which can have a significant influence on corresponding branches of industry. These are the retail sector, the banking sector and the construction sector. A considerable part of the able-bodied population is employed in these sectors. The state they are in and their social protection influence the situation in the country," the prime minister added.
He said that a perfectly transparent procedure had been worked out for making liquidity funds available to those on the market and for ensuring that the funds were used as they were supposed to be used.
"They will be given to companies which are ready to use them for maintaining their pace of development (the first to receive the funds will be companies whose loans are nearing their redemption date)," Putin said.