Representatives from many sectors of the economy are asking for government money to help them through the financial crisis. Who are the recipients of this money? Will it happen that government support will go not to those who need it most but rather to those who are pushy and active in seeking out assistance from the government?
D. Zherebchikov, Yelets
Below, Prime Minister Vladimir Putin's answer:
In order to understand the situation, we should make sure we use all terms correctly. I would like to stress that many use the word "crisis" rather loosely; it has hit the world financial system and Russia is experiencing its consequences. The source of the problem must be traced to the US, where the collapsed system originated. The aftershocks of the collapse are reaching us, too, and consequently, the Government is facing the following tasks: to minimise the effects of the global crisis on Russia, to stabilise the situation, and to attain a new level of development and modernisation both for government-owned and private agents in the market.
One of the Government's main priorities at the current stage is to shore up core economic sectors. Assistance consists not only of providing necessary liquidity to companies, but of passing relevant legislation. I am referring to the areas of business that can have a substantial impact on related sectors. These areas are retailing, banking, and construction, sectors that employ much of economically active population; their status, as well as the social safety net, influences the situation in the whole country.
A transparent procedure for making liquidity available to market participants has been developed. It will ensure that the money disbursed is used as targeted and will reach the companies that are ready to use it effectively to maintain the pace of development (the first recipients will be those market agents whose debts will reach maturity earliest).