17 Mar 2022 12:39

Russia's Finance Ministry not abandoning financial market development strategy to 2030

MOSCOW. March 17 (Interfax) - Russia's Finance Ministry is not abandoning the strategy for the development of the financial market in the period to 2030, the head of the ministry's financial policy department, Ivan Chebeskov said.

Some of the points of the strategy will have to be reconsidered, but most of them will remain, Chebeskov said at an Expert RA conference. "We hope the government will approve it," he added.

"The challenges that we faced in terms of the development of the market, in terms of stimulating long-term investment remain," Chebeskov said.

He said the "main good news is that our stock market and asset management market will continue to exist," although there were doubts.

"At certain moments we all doubted that our market can stay standing, that it won't be needed in the format in which it might come to be. But it seems to me, this is the joint opinion of the market and the regulator, that the market is needed, that financial markets are important, that financial infrastructure is important. This is the right mechanism for the adaptation of capital in the economy and we don't intend to retreat from these principles," Chebeskov said.