Mikhail Kasyanov: Russian securities market reaches new record of capitalization

The Russian securities market has reached a new record of capitalization at USD 200 billion. Television news program Vesti reports that yesterday at a meeting of government ministers Prime Minister Mikhail Kasyanov said that 'the business activity in our markets is growing.'

Kasyanov also said that up till now the highest level of capitalization in the Russian securities market was in 1997. At that time, the level of capitalization reached USD 150 billion. Kasyanov said that the rate of growth in the Russian securities market is the highest in the world. He also said that 95-95% of taxes have been paid in this area. 'Four years ago only 60% of taxes were collected,' said Kasyanov. He added that the government's mission to reform the tax collection system is almost complete.