VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN

Point of View

27 september
2011
Russian financial markets 9

“The VEB should take a more proactive role in investment policy, operating as a powerful driving force behind projects aimed at restructuring the Russian economy to enhance its resistance to any kind of outside stress. Some of the top priorities are high-tech and infrastructural programmes and projects that create new jobs for skilled workers.”

Vladimir Putin
At a meeting of Vneshekonombank’s Supervisory Board, September 27
17 march
2011
Russian financial markets 9

“Plans have been made to increase Russian bank assets to 90% of the country’s GDP by the end of 2015. As of the first of the year, such assets amounted to 74.5%. The aggregate capital of the banks should reach up to 15% of the GDP. Again, as of January 1, it amounted to 10.4%. Finally, the real sector and individual credit portfolios must be increased to 55-60% of the GDP.”

Vladimir Putin
At a meeting of the Government Presidium, March 17
9 february
2009
Russian financial markets 9

“The Federal Financial Markets Service has drafted amendments to the Criminal Code aimed at curbing violations on the securities market. <…> It is not enough to declare certain actions that inflict damage on bona fide investors illegal and ban them. A substantial punishment should be introduced for such actions, and this punishment should be unavoidable. Under the December draft, the longest conviction for such actions is seven years in prison”

Vladimir Putin
Meeting of the Government Presidium, Moscow, 9 February 2009
1 december
2008
Russian financial markets 9

"The first priority, however, is to protect the rights of investors, to form a system to compensate citizens for the damage caused by bad-faith actions of market agents. Attempts to use insider information and manipulate the market should be stopped."

Vladimir Putin
Meeting of the Government Presidium, Moscow, 1 December 2008.
1 december
2008
Russian financial markets 9

"For Russia to position itself as an international financial centre, further steps will be needed. For example, the adjustment of tax legislation, streamlining of the visa requirements for businessmen, and the creation of a comfortable infrastructure for the work of financial companies."

Vladimir Putin
Meeting of the Government Presidium, Moscow, 1 December 2008.
1 december
2008
Russian financial markets 9

"To be sure, nobody is going to restrict the activities of foreign capital in the Russian stock market. We welcome foreign investors. But at the same time, the challenge is to create a massive stratum of domestic investors and form our own powerful financial institutions."

Vladimir Putin
Meeting of the Government Presidium, Moscow, 1 December 2008.
1 december
2008
Russian financial markets 9

"This calls for substantial changes in the laws. The infrastructure of the financial market should be strengthened and superfluous administrative barriers have to be removed, thus cutting the cost of attracting capital to Russian money markets."

Vladimir Putin
Meeting of the Government Presidium, Moscow, 1 December 2008.
1 december
2008
Russian financial markets 9

"In recent years, more and more enterprises in the real sector have regarded the stock market as a convenient and reliable instrument for raising funds for investment projects. Just one example: in 2007, the issue of securities raised over 850 million roubles, or 13 percent of the total amount of investments. The results this year will be more modest. This is understandable in the light of the global financial crisis. However, the main conclusion remains that the financial sector has become part and parcel of the Russian economy. On the whole, it is coping with its main job of converting national savings into investments and production development."

Vladimir Putin
Meeting of the Government Presidium, Moscow, 1 December 2008.
1 december
2008
Russian financial markets 9

"The recent events - the substantial drop in the shares of domestic enterprises -- have shown how uncomfortable it is when most of the decisions as to which securities to buy or sell in Russian money markets are made outside the Russian Federation, based on criteria that have little to do with the real state of our economy and Russian enterprises. As a result, the current prices of the shares of our enterprises are far lower than the real value of their business."

Vladimir Putin
Meeting of the Government Presidium, Moscow, 1 December 2008.