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#28 - JRL 2008-212 - JRL Home
Dvorkovich warns of danger of excessive state regulation during crisis

MOSCOW. Nov 19 (Interfax) - Russian presidential aide Arkady Dvorkovich has said that at the time of a difficult financial crisis it is important not to over-regulate everything around, because the market, the private sector, should operate.

"It is important not to overreact, not to create a situation when we over-regulate everything around," Dvorkovich said at the United Russia's Media Forum on Wednesday.

Among the priorities outlined at the Washington summit on the global crisis the presidential aide cited the importance of maintaining the government's flexibility.

"The government cannot replace the private sector, the market, and business, nor is it going to do so," Dvorkovich said.

The authorities will act so as not to cause any damage, both short-term and long-term, he said.

As for other conclusions drawn from the Washington summit, the presidential aide said that the global situation will remain very difficult in the coming months. "The current crisis has no analogue, precedents or comparisons, which we could use to figure out what to do," the presidential administration official said.

Nevertheless, he highlighted a number of steps that must be taken urgently.