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Anti-crisis plan to be finalized and approved no later than next week — Medvedev

According to the prime minister, the government anti-crisis measures will be based on three main areas enhancing economic growth, support for individual sectors and ensuring social stability

Dmitry Medvedev Alexander Astafiyev/TASS

Dmitry Medvedev

© Alexander Astafiyev/TASS

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MOSCOW. January 22./TASS/ The Federal anti-crisis plan should be finalized no later than early next week, Russia's Prime Minister Dmitry Medvedev said on Thursday at the Cabinet meeting.

"After the plan is approved, and that should be no later than the beginning of next week, taking into the consideration all of my and the President's meetings, serious legislative work is in store in order to implement these measures," said Medvedev.

According to the prime minister, senior Russian government members are due to present their proposals on anti-crisis measures in the near future at the session of the lower house of parliament.

“I am asking the senior government members to visit the State Duma and present our proposals to the parliament in an effort to organize joint work,” Medvedev told a cabinet meeting.

He said this was done during the 2008 economic crisis and the same step is needed to be taken today.

Medvedev instructed the government to adjust the legislative activity plan, in conjunction with the measures to stabilize the economy.

"We must act quickly, so I instruct the government to adjust the plan for legislative work," the prime minister said.

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Anti-crisis measures

The government anti-crisis measures will be based on three main areas enhancing economic growth, support for individual sectors and ensuring social stability, Medvedev went on to say.

"The amount of funding for individual activities still has to be clarified, because it is always a choice between two positions. However, a large portion of the funds will be allocated from the federal budget and the National Welfare Fund, as well as through the provision of state guarantees," the prime minister added.

The Prime Minister also said that in any case, these will be significant funds. "They should be used as efficiently as possible, where they will lead to the necessary result," he said.

The Russian government crisis program will subsidize part of the cost of industry loans and allocate additional funds for the agricultural business, Medvedev announced.

"The main problem for the industry today is the deterioration of credit conditions, lack of working capital," he noted. "So, we will have to subsidize part of the cost and industrial loans for working capital. And additionally, we plan on allocating funds to mitigate seasonal risks and maintain the momentum of AIC lending,” Medvedev added.

According to the prime minister, the fulfillment of social obligations will be the Russian government's priority despite any economic problems.

Dmitry Medvedev ordered the government on Thursday to set aside extra budget funds for unemployment allowances, if the jobless rate increased.

The government’s top priority anti-crisis social measures should be related to direct support of the labor market,” the premier said.

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