Putin Says Russia Needs Additional Resources to Implement Anti-Crisis Plan

Russian President Putin said additional resources may be needed to implement Russia's anti-crisis plan.

MOSCOW (Sputnik) – Additional resources may be required to fully implement Russia’s anti-crisis plan, Russian President Vladimir Putin said Tuesday.

“Undoubtedly, we should expect that additional resources may be needed, I mean that we are going through difficult times,” the Russian leader said.

Putin said it was crucial to provide support for industrial and agricultural sectors of the Russian economy, as well as to the national banking system, labor market and small and medium-sized businesses.

On January 27, Russian Prime Minister Dmitry Medvedev signed a directive approving key provisions of the revised governmental anti-crisis plan. The plan supports the main sectors of the domestic economy and allows the country to fulfill its international and social commitments.

On January 21, Russian Deputy Prime Minister Igor Shuvalov said that Russia would need some $21 billion to implement anti-crisis measures, with part of the necessary funds to be taken from the National Wealth Fund.

The Russian economy is currently suffering from the sharp decline in global oil prices, as oil and gas account for nearly 50 percent of the country’s exports. Western sanctions imposed on Moscow over the Ukrainian crisis have also had a negative impact on Russia’s economy.