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December 10, 2008 Wednesday
Updated
Dec 10, 2008
Special team to fight crisis
MOSCOW - RUSSIAN Prime Minister Vladimir Putin on Wednesday ordered the creation of a government committee to combat the economic crisis amid growing concerns about its effects on growth and unemployment in Russia.

'I think it is necessary to unify our forces so we have a single centre so we can pool our efforts ... in particular in relation to the global economic crisis,' Mr Putin told his cabinet.

The announcement was the latest move to combat the economic crisis by Putin, who has taken a frontline role as prime minister in setting out Russia's battleplan to stave off the worst effects of the global slowdown.

The cabinet committee will be charged with coordinating efforts in all areas of the economy to counter what Putin described as 'negative social effects like rises in unemployment.'

Mr Putin said the committee would be headed by his First Deputy Prime Minister Igor Shuvalov, according to a text of a statement quoted by Russian news agencies.

'I will sign the corresponding decree today and I request that it is implemented,' said Mr Putin.

The economic turmoil is expected to take a substantial bite out of Russian economic growth in 2009 after impressive gains of 8.1 per cent in 2007 and 7.4 per cent in 2006.

The economy prospered under Putin's 2000-2008 presidency, helped by soaring commodity prices, especially for oil and gas.

The statistics office said on Tuesday that growth has already slowed in the third quarter to 6.2 per cent year-on-year but fourth quarter figures are expected to show a more drastic slowdown.

Mr Putin has vowed that the government will do everything to ensure Russia does not suffer an economic shock like its default on debt of 1998 that sent the economy into near meltdown. -- AFP

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