EconomyPetr Fradkov: Market financing mechanisms need to be developed...

Petr Fradkov: Market financing mechanisms need to be developed in the defense industry

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MOSCOW, November 22 – RIA Novosti. PSB Chairman Petr Fradkov said that the Russian military-industrial complex is faced with the task of increasing production, including as part of diversification and import substitution. .

According to the press service of the bank, he shared this opinion in his speech at the plenary session of the Financial University VII International Forum “How to ensure the economic development of Russia in the face of sanctions restrictions”.

“The military-industrial complex has always been a separate element of our economy, it was the first to enter the sanctions in 2014, and now defense industry enterprises increase the output of their main products, import substitution problems and diversification. And here the question of money arises: how can enterprises rely on financial support, sanction pressure Is there any market mechanism to support this industry? said Fradkov.

At the same time, he added that under Russian law, defense industry enterprises cannot issue bonds, for example, because it involves disclosure of information.

“Issues such as the development of market mechanisms to support the defense industry need to be addressed comprehensively. Moreover, import substitution and diversification projects are actually startup projects in terms of legislation. For any bank, these are complex projects. And government guarantees can also provide support here, it’s more relevant now than ever. development institutions, all this will allow the banking sector to finance such projects, including a long ruble.”

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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