Mr. Kasyanov noted that this year the population's savings have grown to 5.8% of the GDP compared to 3.2% in 2000.
New savings are in rubles, the prime minister said. As a result, the volume of investment resources in financial and banking sectors is growing. With the Central Bank's new lowered 14% refinancing rate there is a good incentive to further lower credit rates in the financial sector, Mr. Kasyanov said.
The prime minister noted that the ruble has strengthened by 20% in 2003, this, along with some negative aspects, has brought up such positive results decreasing Russia's dependence on the dollar.