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Russian financial system needs adaptation in sanctions environment — PM

  • Sun Online Desk
  • 31st August, 2022 04:48:46 PM
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Russian financial system needs adaptation in sanctions environment — PM
Russian Prime Minister Mikhail Mishustin

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The Russian financial system requires "serious adjustment" in conditions of sanctions, Prime Minister Mikhail Mishustin said on Tuesday, reports TASS. 

"Our financial system requires serious adjustment in the environment of sanctions and restrictions, primarily to establish efficient mechanisms that will make possible to saturate our economy with sufficient liquidity, ensure stable operations of our business and entire industries, and keep jobs," Mishustin said.

The main task at present is "to take midterm measures aimed at recovering the growth rates, and this needs comprehensive development of all sectors: stock, banking, insurance and pension ones," Mishustin noted. "Owing to joint decisions with the Bank of Russia, we managed to stabilize markets and the banking system and lower inflation risks, which is positively influencing consumer sector dynamics at present," he added.