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Russian Prime Minister Medvedev To Hold Meeting On 2016 Anticrisis Plan

Russian Prime Minister Dmitry Medvedev will hold a meeting on February 2 on an action plan for economic growth in 2016.

Attending will be Economic Development Minister Alexei Ulyukayev, First Deputy Prime Minister Igor Shuvalov, all deputy prime ministers, presidential aide Andrei Belousov, and head of the Central Bank Elvira Nabiullina.

Medvedev said the government will support strategic industries with a high potential for growth and substitution for Western imports in areas such as cars, agriculture, and transportation.

The 2015 anticrisis plan cost 2.33 trillion rubles ($30.1 billion). Ulyukayev estimated the draft anticrisis plan for 2016 would cost much less -- 750 billion rubles ($9.6 billion), with about 210 billion rubles ($2.5 billion) coming from crisis reserve funds.

Unlike last year, the anticrisis plan will not provide any substantial support to the banking system but will be focused on helping small- and medium-sized businesses.

Based on reporting by TASS

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