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Russia to Increase Share of Small Business in Economy - Kremlin Spokesman

© Sputnik / Michael Klimentyev / Go to the mediabankKremlin spokesman Dmitry Peskov
Kremlin spokesman Dmitry Peskov - Sputnik International
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According to Kremlin spokesman Dmitry Peskov, development of small and mid-size business in Russia requires constant and concentrated attention and the need for increasing the share of small business in the economy is one of the Russian authorities’ tasks.

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MOSCOW (Sputnik) The development of small and mid-size business in Russia requires constant and concentrated attention and the need for increasing the share of small business in the economy is one of the Russian authorities’ tasks, Kremlin spokesman Dmitry Peskov said Monday.

“The topic of measures in supporting the development of small and mid-size business is generally one of the key issues of Russia’s economy,” Peskov told journalists in regard to Russian President Vladimir Putin’s upcoming meeting with government officials.

Peskov noted that these types of businesses are the backbone of all developed countries so Russia will have to work harder on their inclusion into the economy.

“Because in all developed states this is the largest share of the economy. As you know, we don’t have this so the task is constant and demands energetic actions and very concentrated attention,” Peskov added.

In late January, Russian Prime Minister Dmitry Medvedev signed a one-year anti-crisis plan to ensure economic development and social stability during the current unfavorable economic conditions in the country.

Medvedev noted that the anti-crisis measures will include support for small business, as well as for individual companies.

The Russian economy deteriorated amid last year's Western sanctions against Russia and falling oil prices. In 2014, the Russian currency had lost almost half of its value against the dollar.

The United States and its allies imposed several round of economic, defense and travel restrictions in 2014 over alleged Moscow interference in Ukrainian conflict.

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