The Ministry of Finance is confident that the Russian stock market will “develop from hopelessness”

Deputy Finance Minister Aleksey Moiseev is sure that the stock market in Russia will develop partly out of desperation, partly because of the state’s actions in this direction. Mr. Moiseev stated this at the VII International Forum of the Financial University under the Russian government.

“I am sure that all this will develop with us, partly out of desperation, and partly, because together with all our colleagues … we will work on this,” said the Deputy Minister (quoted from Frank Media). The authorities, he said, should “build an infrastructure for easy attraction of collective investments”, as well as take a fresh look at the development of the Russian stock market. A “menu of instruments” should be proposed that would allow raising capital in the form in which it is necessary for companies, Alexey Moiseev explained.

He cited as an example other countries that were subject to significant restrictive measures. At the same time, “the stock market there is developing very well,” said Mr. Moiseev. In his opinion, this is due to the fact that the population of these countries “does not see for themselves any other way to preserve their savings in the long term and increase them at a rate higher than inflation, except for the stock market.”

The main problem is still attracting money to the stock market, the deputy minister also said. “I, unfortunately, assume that it will take some time until we have an influx of assets into the stock market, which began in 2020 — even in 2019 — will recover,” Alexey Moiseev said.

According to him, earlier “all the real real capital” that was used “for real investments” was attracted from Western financial markets. Also, the situation is affected by the fact that many have recently lost a lot on investments, and some investors had their foreign securities frozen, the deputy minister recalled.

Earlier, the European Union imposed sanctions against the National Settlement Depository, in connection with which the securities of individuals were frozen. In August it was on frozen assets for 6 trillion rubles.

Read about the development of the situation in the publication “Kommersant FM” “Assets surrounded from all sides”.

Maria Fedotova