Mishustin outlined the tasks to achieve financial sovereignty

Achieving financial sovereignty is the most important task for 2023: to do this, it is necessary to expand the set of tools for attracting long-term money to the economy, increase the attractiveness of investments and provide financing for fast-growing technology companies, said Russian Prime Minister Mikhail Mishustin during a speech in the State Duma with a report about the work of the government in 2022

Speaking about the six key tasks for the current year, which were delivered President in December, Mishustin recalled that one of them is the achievement of Russia’s financial sovereignty.

“Access to Western resources is now closed. But this is a good opportunity to continue developing our own stock market and banking sector. Expand the set of tools for attracting “long” money to the economy. It is planned to increase the volume of long-term savings and the inflow of investments into the financial market. To increase the attractiveness of new mechanisms, a single tax deduction will appear. Appropriate amendments to the legislation are currently being developed. We will also stimulate the growth of attracting financing by fast-growing technology companies,” he said.

March 7 Russian President Vladimir Putin commented sanctions imposed by the West against Russia with the proverb “there would be no happiness, but misfortune helped”, calling them a step towards increasing the economic and financial sovereignty of the country. The President stressed that despite the sanctions pressure, the difficulties that had arisen were overcome largely thanks to the professional actions of the Central Bank, the banking community and the government.

In the middle of the month, during a visit to an aircraft factory in Ulan-Ude, Putin declaredthat the economic sovereignty of Russia increased by a factor of 2022, which was the most important result of last year. The President also said that the problems caused by the sanctions last year only benefited the Russian economy, and quoted the German philosopher Friedrich Nietzsche – “what does not kill us makes us stronger.” He noted that Russia has become more independent in the sphere of economy and finance.