$21bn Russian anti-crisis plan prioritises mono-towns and banks

Russian anti-crisis plan: Russia’s First Deputy Prime Minister Igor Shuvalov this week outlined details  of the government’s multi-billion dollar plan to revive the country’s flagging economy.  Top priority – and around $4.55bn –  is to be given to revitalising and restructuring those ailing enterprises and industries which are the only source of employment in the so-called mono-towns that have grown up around their operations such as Togliatti (automotive) and Astrakhan (fisheries); $3.8bn will go towards recapitalizing the country’s banks; $2.9bn on pensions and $2.4bn on loans to the construction sector. The money for the plan will come from an increase in the budget deficit. rbth