Russia's Deputy Prime Minister and Finance Minister Alexey Kudrin
Photo: Svetlana Privalova
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Stock Market Worse Off than Economy
The Russian stock market, which has been in sharp decline recently, does not reflect the real sector, Deputy Prime Minister and Finance Minister Alexey Kudrin told journalists Thursday. “Now the financial markets do not objectively reflect the real sector,” he said during a break in the United Russia Party congress. “Unfortunately, we have to admit that.”
“Nonetheless, we cannot change certain rules – laws – of the market and, unfortunately, rejection of securities and selling them at essentially dumping prices for cash is the definitive tendency today. But that does not correspond at all to the objective indicators of enterprises. I mean the price of the enterprises’ stock. That is a general problem – it is present in Europe and the United States. We plan to discuss in the near future how to evaluate stock realistically,” Kudrin stated.
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