Gov't to analyze banking sector crisis

The Russian government will analyze the consequences of the banking crisis that resulted in a decline in housing construction, Russian Economy Minister German Gref declared at a briefing after Cabinet's meeting. According to him, the Economy Ministry together with the Industrial Production and Energy Ministry will carry out an additional analysis of the banking crisis.

"Primarily trade and construction are suffering from a complicated situation in the banking sphere," Gref stressed. According to him, this is connected with an increase in credit rates. That is why the government should speed up reforms of the banking sector and decrease the risks in this sphere, the Economy Minister believes.