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Russia’s Stock Exchange Grew by Zero Percent in 2004
December 22, In 2004, RF Stock Exchange grew by 0 percent, RF Finance Minister Aleksey Kudrin said during a government session. At the same time he added that in 2003 the Market grew by 57 percent, and in 2002 – by 37 percent.
The minister reminded that in the beginning of 2004 there was a growth tendency at the stock exchange; however, “something in the economic policy development interfered with it.”
The minister thinks the 2005-2008 Russia’s social and economic development program must be the government’s “answer to the market” regarding what growth rate was expected from it in 2005. At the same time, he added that was also the way to stop the negative tendency and boost the trust of business toward the stock exchange. The Finance Minister stated that the government was willing “to take steps in order to increase the investors’ trust to the stock market.”
In response to Prime Minister Mikhail Fradkov’s skeptical remarks regarding the program, the Economic Development and Trade Minister German Gref assured all those present at the government session that the program was of principle interest to businessmen.
Gref also admitted that although the young generation did not read programs on social and economic development, the middle-term development program was “significant for businessmen,” because it “gave answers on the main directions of economic development.” However, the RF government decided to send it for revision.
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