VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
“I believe that our main task today is to create the conditions for the military-industrial complex to use effectively the state defence order and other instruments of Government support.”
“We will consider other measures to maintain railways investment potential. Analysts estimate it would take more than 100 billion roubles to implement the current investment programmes, and another 100 billion roubles to refinance Russian Railways debt. How should we do that? I think it is possible to place Russian Railways bonds to the tune of 150 billion roubles, and then see what the budget can afford in the beginning of the year, and before February 1 make a decision on possible direct government investment in the company's capital stock. I feel obliged to stress that the matter demands the utmost accuracy and circumspection.”
“We need to implement large investment projects - those that guarantee demands for high technology. Now that traffic volume is shrinking, Russian Railways and independent traffic companies have the opportunity to inventory equipment and to discard obsolete and worn-out cars and other equipment. At the same time, they should consider purchasing new, state-of-the-art cars, which are far more efficient. This is a chance to become more competitive. These acquisitions can also give a new lease of life to Russian transport manufacturers.”
“The decision to phase in the tariff increase over the next year was made to promote the entire economy - in particular, to facilitate the business activity of the railways' primary clients.”
“The Government does not intend to force the railways to bear the brunt of the burden. Federal allocations, up to 50 billion roubles, will compensate for Russian Railways' lost revenues. We will also compensate student travel discounts. We have directed the relevant instructions, as you know.”
“Freight traffic volume is on the decline. That is the railways' main concern. This is due primarily to shrinking demand for steel and fertiliser and for mined coal. The market is on the decline and taking Russian Railways' revenue with it. As you know, we have decided on a more gradual increase in raising tariffs of natural monopolies. This was done in the interests of the entire economy. For example, railway freight transport rates should increase 12% at most in 2009, as opposed to the expected 18.7%. January 1 will see only a 5% rise - less than planned previously.”
“The next proposal will have a direct effect; I am referring to our plan to renew municipal vehicle fleets. We will allocate 20 billion roubles from the federal budget for this purpose, and expect regional and municipal governments to provide an additional 10 billion, as has been agreed. I hope people will see how municipal fleets of passenger transport vehicles and special machinery will be replenished with new cutting edge equipment.”
“In 2009 we plan to support Russians who buy cars worth up to 350,000 roubles by co-financing their loans. We'll help them repay two-thirds of the Central Bank's refinance rate. The current rate is 13%, which means that the government will provide slightly over 8% of the interest rate of a car loan, provided the car costs below 350,000 roubles.”
“We have vastly supported agricultural engineering by changing our tariffs and customs policies to protect domestic manufacturers. We have allocated an additional 25 billion roubles to Rosagroleasing, the state agricultural leasing company, and implemented a set of measures to support domestic agriculture. The most important decision was without a doubt subsidising between 60% and 80% of agribusinesses' loan interest, and even up to 100% for specific times of investment loans.”
“We have made tariffs and customs regulatory changes to protect domestic producers, supported Rosagrobank's capitalisation with 35 billion roubles in mid-2008, and approved the additional allocation of 45 billion roubles for purchasing grain, making interventions, and other operations.”
