Vladimir Putin approves recovery plan for financial sector

Vladimir Putin, Prime Minister of the Russian Federation, has approved the recovery plan of the financial sector. The plan approves a number of bills on the improvement of the financial infrastructure and the banking system.

The recovery plan consists of 55 various laws and legal acts aimed at economic rehabilitation of the Russian markets and is focused on demand and liquidity of the domestic markets, support of the labor market, construction, agricultural, engineering, and transportation sectors as well as small business.

The plan includes placing representatives of the Central Bank within the management of Russia’s largest banks in order to control state money distribution. The Central Bank officials would make sure that state-controlled corporations are increasing the tempo of investment in order to maintain the demand.

The plan may be downloaded here.