PM: Russia needs plan to invest people’s funds in producing economy

MOSCOW, Feb 22 (PRIME) -- Russia urgently needs to establish a state program of investment of long-term people's savings in the producing sectors of economy, Prime Minister Mikhail Mishustin said on Wednesday.

"In general, the instruments must help entrepreneurs adapt to the current conditions faster. Households’ long-term savings may become one of the sources of financing of the producing industries,” the official said.

“A state program must be elaborated as soon as possible. It is important that we elaborate mechanisms of insuring private investment and several other instruments."

Mishustin ordered his deputy Dmitry Grigorenko to control fulfillment of all orders in the presidential address to the Federation Council given on Tuesday. He said that an order by President Vladimir Putin to ensure real growth of salaries will be fulfilled, and the minimum wage will rise by 10% additionally.

End