Federation Council Speaker comes out against attracting Central Bank reserves into investment projects

Federation Council Speaker Sergei Mironov believes it possible to attract the reserves of the Central Bank into investment projects on setting up new enterprises in Russia. Mr Mironov said as much when commenting on the initiative of prominent Russian politician and economist Arkady Volsky to the press.

Mironov recalled that the Bank of Russia had so far piled up "an unprecedented mass" of gold and hard currency reserves. "On the one hand, this means that the state has a stable position, including in the international arena, but on the other hand, why not use them effectively?" Mironov said.

According to him, experts should decide how these reserves should be attracted for investment if they should be attracted at all.

In its turn, if necessary, the Federation Council is ready to assist in adopting necessary bills, Mironov concluded.

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