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Meeting on financial stability of agribusiness

September 21, 2010, Gorki, Moscow Region

Dmitry Medvedev held a meeting on the financial stability of agribusiness.

In his opening remarks, the President summed up what has been done in recent months to address issues arising from the abnormally hot summer. During this period President Medvedev visited several regions and held a number of meetings on various aspects of recovery from the drought, ranging from harvesting to processing the harvest and pricing policy.

Mr Medvedev noted that the regions have been allocated the necessary funds in the form of budget loans and grants, and the issue of loan extensions for agricultural producers has been resolved. Regions have also received support with winter sowing. In addition, the Government issued a resolution to subsidise railway tariffs for the transportation of grains and grain products. Efforts on assisting the financial recovery and restoration of solvency of agricultural producers in regard to taxes and tariffs arrears have been launched.

The President stressed that the embargo on the export of grain is not the only measure to stabilise the market and can be lifted once there is definitive data on the harvest.

Dmitry Medvedev also discussed prices in the food market, noting that during his trips around the regions he saw the situation for himself as he visited supermarkets and shops. Prices for staple foods, such as bread, must remain stable, he emphasised.

Besides, the President touched on the subject of insuring cultivated land and rural housing.

Mr Medvedev recalled that following the meetings held in Taganrog, Voronezh, Orenburg, Saratov, Murmansk and Belgorod instructions were issued to various agencies, including the Federal Customs Service, the Federal Antimonopoly Service, and the Federal Service for the Oversight of Consumer Protection and Welfare, and added that new instructions will be given following this meeting.

September 21, 2010, Gorki, Moscow Region