Putin proposed to use ruble weakening to conduct import substitution policy

Date: 10:01, 05-12-2014.

Almaty. December 5. KazTAG -Russian President Vladimir Putin proposed to use ruble weakening to conduct import substitution policy.
"We have faced reduction of currency receipts today, as a consequence weakening of rate of the national currency. Along with this, weakening of national currency, of course, increases both pricing conjuncture and competitiveness of our companies. We should use this factor to conduct import substitution policy where it is expediently and necessary. Including during 3-5 years we must provide people with good quality and affordable medicines and food products mainly of domestic production," he said in the message to the federal assembly on Thursday.
He also called the Bank of Russia and the Government of Russia to suppress any efforts of speculation with the national currency rate.

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