Saturday, May 16, 2015

Shuvalov: economic growth is possible by the end of this year – RYBINSKonLine

The worst forecasts in the Russian economy did not materialize, the growth may begin in late 2015 – early 2016, said on Friday First Deputy Prime Minister Igor Shuvalov.

Shuvalov added that At today’s meeting, it was confirmed timely adoption by the Government of all necessary decisions to combat the crisis in the sector. Banks are willing to seriously consider their business plans, plans to reduce costs, as well as new conditions of renewal of existing credit obligations. For the banking community that option appears “working and rational.” Not so long ago TASS quoted the head Deposit Insurance Agency Yuri Isaev, who is seeing in this opportunity with more questions than answers.

Deputy Prime Minister said that the major banks have proposed a number of changes in the system of guaranteeing deposits.

Shuvalov also said that if necessary, the government will expand the list of banks that are eligible for state aid in the form of Tier I capital. In this work was a request from the Federation Council, and of the State Duma. Today, we even discussed specific figures for the amount of capital from which would be considered an application of such banks. An appropriate mechanism will be finalized within 1-2 weeks. Already it decided that support through the DIA will receive the regional banks, which will support the lending industry.

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