Putin Demands that Russian Banks Make More Loans

Russian Premier Vladimir Putin asked heads of major banks in Russia to allocate a larger number of loans to help overcome a recession and credit crunch. This is despite the fact that Russia is currently faced with a wave of loans with late payment or non-payment, writes Financial Times.

Putin asked the state banks to allow the granting of new credits worth 16 billion dollars (11, 4 billion euro), to stimulate the economy.

Lately, head of Kremlin government has made a habit of public appearances in which criticism the failure of wages, or prices are too high, that local chain stores practice and that the Russians people are compelled to bear from their pocket.

Putin interrupted a meeting of government on the retail sales to lead the members of the government to a store Perekrestok, which is one of the largest supermarket chains in Russia.

PM Russian explored district with supermarket managers, but also with multiple manufacturers in the food industry, asking why the products are sold at a so high price, in the conditions in which production costs are much lower.