Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE BUSINESS INTERVIEW

Inger Andersen, Vice President for the Middle East and North Africa, The World Bank

Read more

FOCUS

Scottish referendum: Should I stay or should I go?

Read more

MIDDLE EAST MATTERS

Paris conference: A coalition against the Islamic State group

Read more

ENCORE!

Encore's Film Show: Spies, doppelgangers and gay rights activists

Read more

IN THE PAPERS

Salmond's 'emotional eve-of poll plea to Scots to seize their historic opportunity'

Read more

THE INTERVIEW

Nick Witney, Senior Policy Fellow, European Council on Foreign Relations

Read more

IN THE PAPERS

'Valls is starting to act like Hollande'

Read more

WEB NEWS

Wikileaks releases 'weaponized malware' customer list

Read more

MEDIAWATCH

Ukraine politician thrown on rubbish heap

Read more

Business Europe

Moscow injects funds to boost jobs

Latest update : 2009-02-17

In an interview on Russian TV, President Dmitry Medvedev (pictured) announced a $1.3 billion aid package aimed at generating jobs in small and medium-sized businesses as national unemployment levels mount.

AFP - Moscow will inject 44 billion rubles (986 million euros, 1.3 billion dollars ) into creating new jobs, President Dmitry Medvedev said Sunday as Russians reeled from a dramatic hike in unemployment.
  
The aid package would be aimed at creating jobs in small- and medium-sized businesses, as well as in construction projects, Medvedev said in an interview with the Rossia television channel.
  
"It could be for roads, or it could be for other infrastructure projects," he said.
  
Some of the funds will also be channeled into retraining professionals for new jobs, Medvedev added.
  
The number of unemployed reached 5.8 million at the end of December, according to the Rosstat statistics office.
  
Officials have said the number of Russia's jobless could rise by over half a million in 2009.
  
The economic crisis has hit the Russian auto industry particularly hard, with several Russian and Western firms closing production lines for a month over the New Year period to cope with shrinking demand.
  
Demonstrators took to the streets of Russian cities on Saturday, protesting wide-sweeping job cuts.

Date created : 2009-02-16

COMMENT(S)