Russian Financial Control Monitor
| MOSCOW. State development bank Vnesheconombank or VEB has proposed increasing the capital of its subsidiary, Export Insurance Agency of Russia (Exiar), by RUR1.38bn before the end of 2014 and the capital of Roseximbank by RUR8.7bn, Kommersant business newspaper reported on Thursday.
“The possibility of increasing the capital of VEB’s export support subsidiaries can be discussed at an upcoming meeting of its supervisory board,” the newspaper’s source in the government said.
VEB, according to the source, has been appointed coordinator of government structures’ export support activities. |
| MOSCOW. The government will have to reduce expenditures in 2014-2016 by at least 5%, Prime Minister Dmitry Medvedev said at a government meeting.
In some cases, reductions can be bigger, he added.
The Prime Minister called on all ministers to work on the issue together and to rise above the interests of their respective ministries. |
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