President of Russia
  • Events
  • Structure
  • Videos and Photos
  • Documents
  • Contacts
  • Search
  • Search this website
President of Russia
Mobile version

President's
website
sections

  • Events
  • Structure
  • Videos and Photos
  • Documents
  • Contacts
  • Search
  • Search
  • For the Media
  • Subscribe
  • Directory
  • Version for People with Disabilities
  • Twitter
  • YouTube Channel
  • Русский

President's
website
resources

  • President of RussiaCurrent resource
  • The Constitution of Russia
  • State Insignia
  • Send a Letter
  • Vladimir Putin’s Personal Website

Special
animal welfare
projects

  • Amur tiger
  • Beluga whale
  • Polar bear
  • Snow leopard
  • Far Eastern leopard

Legal
and technical
information

  • About website
  • Using website content
  • Personal data of website users
  • Contact website team

All content on this site is licensed under

Creative Commons Attribution 4.0 International

Presidential Executive Office2023
Events

Speech at Cabinet Meeting

December 29, 2003
16:34
The Government House, Moscow

Vladimir Putin: Good afternoon,

You know I have just visited the State Duma and congratulated its newly elected deputies on the beginning of its fourth period of work. I also want to draw the attention of the Government to the fact that for our joint work to be effective it must be well-organised. I very much hope that draft laws will be prepared in time and with the right quality.

Today is the last time we are holding this kind of meeting. Therefore, in spite of the fact that there are many unsolved issues, I would like to focus on the positive things before New Year’s Eve.

I think that one of the most vivid indices is the continuing growth of the gold and foreign currency reserves. This is one of the most important macroeconomic indices – the number of months that the country is able to finance imports using its gold and foreign currency reserves alone. In the middle of December, Russia’s gold and foreign currency reserves stood at $72 billion. This means that all imports into the country can be paid for another twelve months. Russia is now second in the world in terms of this index. Only Japan surpasses our country in terms of this index, as its gold and foreign currency reserves allow it to cover the purchase of foreign goods and services for fifteen months.

This index is important and favourable, and on its basis we must solve other tasks and strengthen the instruments that can make our economy more efficient, more competitive and more viable.

In this context I want to remind you that we discussed such important draft laws with the former State Duma as a law on foreign currency regulation, a law on the insurance of household deposits in the Russian Federation, and some other laws. As you know, I signed the currency regulation law some time ago. On December 23, I signed the law on the insurance of household deposits. This law increases the stability of deposit insurance. In this sense it meets the interests of Russian citizens who keep their savings in the country’s banks.

Lastly, I signed a law on amending the law on the tax on securities transactions. I think that this, as we hoped, will reduce the costs of enterprises in attracting resources in the form of securities. A lot has been said about this. The business community has raised the need for adopting such a law in the hope that it will work effectively.

Publication status

Published in section: Transcripts

Publication date: December 29, 2003, 16:34

Direct link: en.kremlin.ru/d/22271

Text version

Text

Share
Direct link
http://en.kremlin.ru/events/president/transcripts/22271
Share
  • VK
  • LiveJournal
  • Send by email
  • Print
Send by email

Official Website of the President of Russia:

Speech at Cabinet Meeting

http://en.kremlin.ru/events/president/transcripts/22271

Last updated at March 20, 2015, 18:00

Официальные сетевые ресурсы

Президента России

Official Internet Resources

of the President of Russia

Русский Английский
  • For the Media
  • Version for People with Disabilities
  • Telegram channel
  • YouTube Channel
  • State Insignia
  • Send a Letter
  • Vladimir Putin’s Personal Website
  • Putin. 20 years

Presidential Executive Office
2023