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Russia’s financial sustainability is key task, Putin says (+Photos)

Russia’s financial sustainability is key task, Putin says (+Photos)

Moscow, Apr 18 (Prensa Latina) Russia's long-term financial sustainability, both at the federal and regional levels, must remain a key task for the authorities, President Vladimir Putin said today at a meeting on economic issues.
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He noted that the government should support domestic demand to prevent its excessive contraction, among other things, by increasing the availability of loans to businesses.

Putin expressed that the state budget should actively support the economy, saturate it “with financial resources and maintain its liquidity”, although he called for “acting cautiously”.

He also reiterated the need to accelerate the transition in foreign trade to payments in rubles and national currencies of countries that are reliable trading partners. “In the new conditions, which have changed, we must move at a much faster pace,” the head of state called.

The President noted that punitive measures imposed against Russia by hostile countries affected domestic trade opportunities, hindered the logistics of export and import supplies and created obstacles to making payments.

Putin said that the economic situation in Russia is stabilizing and the ruble exchange rate is returning to the levels of the first half of February, before the start of the special military operation in Ukraine.

On the other hand, he assured that the economic strategy of the blitzkrieg against Russia failed: “They were counting on quickly shaking the financial and economic situation of our country, causing panic in the markets, the collapse of the banking system and large-scale shortages of goods in stores,” he said.

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