Russian prime minister sets out business priorities in North Caucasus
Russian Prime Minister Mikhail Kasyanov, on a working visit to Nalchik, capital of Kabarda-Balkaria, believes the
future priorities of the North Caucasus republic are small business and tourism, the Russian news agency ITAR-TASS
reported on 31 October.
"Small businesses are absolutely the key element for Russia's economy," the agency quoted Kasyanov as
saying.
Kasyanov said the share of Kabarda-Balkaria's small businesses should be higher than the average for Russia as
"it is not logical to build large enterprises in the most picturesque spots of the Elbrus mountains".
Speaking at the local university, Kasyanov said the regional authorities should pay special attention to small
businesses, and "special conditions" should be created for small businesses in the regions.
At present, the federal authorities are working on decisions "to ease small business operations, which has
always been the priority of economy", the agency quoted Kasyanov as saying.
Commenting on the development of financial markets in Russia, he said that the problem was the lack of interaction
between different sectors of the market. He said this issue would be discussed at a cabinet meeting on 11 November.
The work of financial markets should "serve one important task", which is the "transformation of
savings into investment," the agency quoted the Russian premier as saying.
The markets, he said, "do not act as mediators, and thus do not ensure the growth of the economy".
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