Va-Bank: The Russian Finance Ministry goes to extreme measures to rescue the financial markets

Investments Finansy16-09-2008 Va-Bank: The Russian Finance Ministry goes to extreme measures to rescue the financial markets, free budget decided to put the salvation of the stock markets. Ministry of Finance nearly doubles the limit temporarily free budget funds placed in deposits with credit institutions. Namely, from 668 billion rubles. to 1232 billion rubles. Russian Finance Minister Alexei Kudrin said: "We are approaching banks and companies, which in October are expected debt payments and pay VAT. However, he recalled that with the placement of such funds on deposits of credit institutions was actually used only 186 billion rubles. In addition, Kudrin said that despite the downturn in stock markets, the agency expects to which specified targets in terms of loans and money supply. In turn, Russian Prime Minister Vladimir Putin said: "The budget system of Russia managed to accumulate a considerable margin, which will offset the volatility of world capital markets and fluctuations in commodity prices." Interlocutor Bigness.ru, analyst UK "Kapital Feodor Naumov approves move of the Russian authorities:" This is a relevant measure, especially considering the huge surplus of the Russian budget. One tool replenish liquidity in banks will get bigger, "- he shared.