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The main issues on the agenda were measures to counter negative trends in the economy, the situation on the foodstuffs market, credits for the real sector, and ensuring liquidity.

The meeting discussed subsidies for agricultural producers in response to rising interest rates, and the outflow of household deposits from banks. Chairman of the Central Bank Sergei Ignatiev said that the outflow of household deposits ceased in November.

Mr Medvedev said that Russia has a decent chance of keeping inflation growth in check in 2009. As for the results for 2008, Economic Development Minister Elvira Nabiullina said that inflation for the year will come to 13.5 percent, and economic growth will be 6.8 percent.

The President instructed the Government to keep all of these matters under its control and maintain direct contact with producers.

Mr Medvedev plans to hold a meeting of the Presidential Council for the Implementation of the Priority National Projects and Demographic Policy at the end of the year to review the state of progress in their implementation in the current economic situation.

Taking part in the meeting were First Deputy Prime Minister Igor Shuvalov, Deputy Prime Minister and Finance Minister Alexei Kudrin, Economic Development Minister Elvira Nabiullina, Chief of Staff of the Presidential Executive Office Sergei Naryshkin, Presidential Aide Arkady Dvorkovich, Chairman of the Central Bank Sergei Ignatiev, and First Deputy Chairman of the Central Bank Alexei Ulyukayev.