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Russia’s anti-crisis program offers partial ‘pain relief’ — ex-finance minister Kudrin

January 30, 2015, 19:26 UTC+3 MOSCOW

The program lacks structural reforms, which are crucial for exiting the crisis and stagnation, Russia's former foreign minister believes

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Alexey Kudrin

Alexey Kudrin

© Zurab Dzhavakhadze/TASS

MOSCOW, January 30. /TASS/. The anti-crisis program developed by the Russian government contains many rational elements but is insufficient, former Finance Minister Alexey Kudrin said on Friday.

"The anti-crisis program has a lot of rational things but it offers only partial pain relief and is hardly a cure," Kudrin wrote in his Twitter account.

The program lacks structural reforms, which are crucial for exiting the crisis and stagnation, the ex-finance minister said.

The notes to the anti-crisis program say the government will work out structural reforms. "I very much hope for that," Kudrin said.

The ex-finance minister said structural reforms should also operate as anti-crisis measures.

"It is impossible to compensate everyone for a fall in real incomes while the transition to selective assistance is both reform and an anti-crisis measure," he said.

The ex-finance minister also said the Federal Targeted Investment Program needed "to balance large construction projects and support for medium and small business." Kudrin said even the construction of a bridge over the Kerch Strait to Crimea would support business activity and the main thing would be to control its efficiency.

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