Putin called the purpose of financial rehabilitation of banks

“There are different estimates of state participation in the economy, – said Vladimir Putin. – Someone believes that too much state in the economy, someone thinks that is normal”. And different techniques give different results.

“I think we have a generally balanced situation,” – said Putin. Of the 20 largest companies – only seven or eight state-owned. But the question is not whether they are private or public. The question is how they work. If managed correctly, bring income to the state, then the question is, privatization is an end in itself? Putin gave an example: in Canada, the privatized railway was bought by the Americans and Canadians have a hundred times wished that he had sold. “We must be very careful here and make an informed decision,” he said.

Photo credit: TASS/ youtube.com Putin spoke about his reaction to the kit in the Soviet stores

Even the President said that state-owned companies – the largest taxpayers in the state budgets of all levels. The assertion that the state is an inefficient owner, “is worth nothing if you do not see a specific job for a specific enterprise”, he said. “The General approach is the average temperature in the hospital”, – said Putin. Maybe as a methodology, this approach is correct, but it is necessary to look each time separately.

In re-privatization, the President does not see anything wrong. There are different approaches and points of view, and the person who decides must hear every – so Putin is trying to do.

the Head of state gave the example of claims to the Central Bank: he took himself under a lot of financial institutions have spent huge amount of money, paid a lot of money to shareholders. But it is the shareholders and not paid almost nothing, and plater the citizens, so they suffered minimal damage from the sanctions of the banks, Putin said. “I know people will look, some will be angry, I will say this “I was hurt,” but the Central Bank has done this to millions was not injured. To weak financial institutions did not get the unlimited money from the population, as did the developers defrauded investors, and then disappeared somewhere in London there as usual,” he said. That’s why you need to do reorganization. The Central Bank is now planning to sanitize the assets of these financial institutions and bring to market, concluded the head of state.