Russian govt commission monitoring state of 2,163 systemically important enterprises - deputy PM

MOSCOW. Feb 11 (Interfax) - The Russian government commission on economic stability is monitoring the state of 2,163 systemically important enterprises, Deputy Prime Minister Alexander Novak said during a meeting of a Federation Council committee on Tuesday.

"Since December, the commission on financial sector stability and support for certain industries has resumed its work. This commission operated during the pandemic and provided support to enterprises facing difficulties. We are monitoring 2,163 systemically important enterprises across various sectors of the economy, conducting continuous assessments based on production figures, financial and economic performance and the employment situation. We have established 12 indicators that are being monitored," he said.

Among the current risks are "a decline in investment activity in the current environment amid high key interest rates, a decrease in enterprise profitability and financial performance, and an increase in interest expenses relative to internal sources, primarily EBITDA," he said.

"At the commission we are looking at the specific situation in specific industries. We have already conducted such reviews in nine industries. In just two days there will be another meeting, where we will consider agriculture, the agro-industrial complex and agricultural machinery," Novak said.

He said the commission had already discussed the current state of affairs in transport machine building, automobile manufacturing, public transport production, the forestry and construction industries, as well as the energy sector - the coal industry and the oil and gas sector.

"We have already reached decisions on several measures, including support for areas of industries," he said, adding that this concerned supporting demand in the domestic market, solving problems related to exports, and logistics for remote regions to redirect goods to the east.