UPDATE: More freedom to Russian business – best anti-crisis measure

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MOSCOW, Jan 29 (PRIME) -- Giving more freedom to Russian business and reducing the government's role in the economy are the best anti-crisis measures, Prime Minister Dmitry Medvedev said Thursday at a government meeting.

“The course aimed at decreasing government’s presence in the economy is obvious, but the best anti-crisis measure will be to provide business with more freedom, without nuances,” Medvedev said, adding that keeping the balance of government’s and businesses’ interests is very important.

Medvedev also urged ministers to instantly start implementation of the anti-crisis plan, as well as to submit their suggestions concerning structural reforms, the implementation of which is envisaged by the plan.

The government will consider extending Vnesheconombank’s (VEB) powers in helping Russian investors at foreign markets, including provision of financial and guarantee support to exporters of agricultural products. “We expect to build simpler, faster, more effective procedures of coordinating new investment projects abroad,” he said.

VEB’s activity in financing supplies of goods produced abroad under international cooperation deals is also planned to be extended, he said adding that the measure will apply to products where the share of Russian components amounts to at least 30%.

Medvedev said that the government still controls the situation.

“We are able to hold the situation under control,” he said. “We have a lot to do this year, and I am speaking without irony. Our country needs high-quality work.”

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