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Russian financial system needs adaptation in sanctions environment — PM

Mikhail Mishustin emphasized that the main task at present was to take midterm measures aimed at recovering the growth rates

Russian Prime Minister Mikhail Mishustin Dmitry Astakhov/POOL/TASS

Russian Prime Minister Mikhail Mishustin

© Dmitry Astakhov/POOL/TASS

MOSCOW, August 30. /TASS/. The Russian financial system requires "serious adjustment" in conditions of sanctions, Prime Minister Mikhail Mishustin said on Tuesday.

"Our financial system requires serious adjustment in the environment of sanctions and restrictions, primarily to establish efficient mechanisms that will make possible to saturate our economy with sufficient liquidity, ensure stable operations of our business and entire industries, and keep jobs," Mishustin said.

The main task at present is "to take midterm measures aimed at recovering the growth rates, and this needs comprehensive development of all sectors: stock, banking, insurance and pension ones," Mishustin noted. "Owing to joint decisions with the Bank of Russia, we managed to stabilize markets and the banking system and lower inflation risks, which is positively influencing consumer sector dynamics at present," he added.

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Mikhail Mishustin

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