Russian Government publishes its programme of anti-crisis measures

Practical Law UK Legal Update 8-385-5614 (Approx. 2 pages)

Russian Government publishes its programme of anti-crisis measures

by White & Case LLP

Published on 02 Apr 2009 • Russian Federation

The Russian Government has published a programme of measures it intends to take in 2009 to counter the effects of the financial crisis on the Russian economy.

On 19 March 2009, the Government published the programme of anti-crisis measures for 2009. The programme is available (in Russian) on the Government's website.

Under the programme, the Government will proceed with the following priorities:

The state must fully perform its public obligations (in particular, strengthen social security and resist unemployment growth).
Industrial growth to continue (in particular, agricultural, transportation and housing construction sectors to be supported).
Domestic demand to increase (in particular, at the expense of state procurement).
Modernisation of the Russian economy to continue (in particular, innovative technologies to be developed).
Administrative barriers for businesses to be reduced (in particular, with respect to small and medium-sized enterprises).
Stability of the financial sector (including the banking system and securities market) to be supported.
Balanced monetary policy to be conducted and inflation to be decreased.

The programme describes both the anti-crisis measures already adopted in 2008 and planned for 2009.

Russian Government publishes its programme of anti-crisis measures | Practical Law