Minister of economic development speaks on anti-crisis plan implementation

06/29/15 15:07

Minister of economic development speaks on anti-crisis plan implementation

In an interview with Radio 1 journalists Alevtina Slinchenko spoke for rouble rate maintenance

The minister of economic development, Alevtina Slinchenko, gave a live interview to Radio 1 journalists. They talked about the problems of anti-crisis plan implementation, import substitution programme and Pridnestrovian rouble exchange rate.

According to Alevtina Slinchenko, these issues had been discussed in a broader context at the 19th Saint Petersburg International Economic Forum, to which Pridnestrovie's representatives were also invited.

«In his speech the Russian president, Vladimir Putin, said that the essence of the import substitution programme is not to isolate the Russian market, but to develop its own non-oil and gas export. This programme aims at developing Russia's domestic potential," said the minister.

She noted that according to the memorandums signed in 2014 between Pridnestrovian and Russian authorities, Pridnestrovie's enterprises are also included in the Russian import substitution programme. In compliance with the agreement restrictive counter-sanction measures do not apply to Pridnestrovie's exporters.

«We continue the cooperation in this area with Russia's ministry of trade and industry and constantly renew the list of enterprises exporting production to Russia. In case vexed questions arise between trading partners in Russia and Pridnestrovie, they are solved at ministerial level," said Alevtina Slinchenko.

Speaking about Pridnestrovie's import substitution programme as an instrument of homeland manufacturers protection in the domestic market, the minister noted that import duties have been increased on a whole range of foreign products which are produced or can be produced in Pridnestrovie.

«Increased duties have been imposed on milk, meat and flour production. Work is currently under way on increasing duties on cement production. Besides, when making public procurement, ministries and agencies will conclude agreements with our local manufacturers whose production is on the import substitution list. For social facilities, hospitals and kindergartens the government will procure only domestic goods.»

The protection of Pridnestrovian manufacturers is part of the government's anti-crisis programme which, according to Alevtina Slinchenko, is constantly being analysed and complemented with new measures, aimed at simplifying administrative procedures.

«The simplification of procedures concerns phitosanitary and epidemiological control. Tax exemptions for enterprises creating new jobs were stipulated in the anti-crisis programme draft. In addition, the government's draft law provided for bringing off-shore companies out of the shadow, which would generate additional revenues to the budget. However, the Supreme Council has not approved these initiatives. At the same time, the alternative anti-crisis plan worked out by the parliament, provides for a considerable reduction of budget revenues," noted Alevtina Slinchenko.

The minister emphasised that in case the parliament's anti-crisis project is approved, the state budget potential will be even more restricted, which will cause still more problems in paying pensions and salaries. Alevtina Slinchenko is warning all ways against launching a printing press in order to solve the financial deficit problem by means of monetary emission.

«According to our estimates, if the rouble rate is released, the dollar may cost 20 roubles. This will result in serious losses for our citizens. The purchasing capacity will decrease twofold. The rouble's fall will prompt a rapid growth of market prices. It will be very difficult to resist inflation pressure. At the same time, exporters will take advantage of rouble depreciation. However, according to the government, ordinary citizens' interests are of higher priority," concluded the minister.


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