President Vladimir Putin has urged the Cabinet to examine changes to the terms of concessional loans for promipoteka, proposing an extension from seven to fifteen years. He announced this direction during a speech at the congress of the Russian Union of Industrialists and Entrepreneurs, a detail later published on the Kremlin’s site. The move signals a potential shift in how state-supported industrial financing could be structured to bolster long-term capital projects and stimulate investment across key sectors.
Regarding the benefits themselves, extending the duration of financial support for industrial mortgages is acknowledged as a distinct policy question. The government’s economic block, with the Ministry of Finance taking the lead, is expected to work out the specifics first. Putin urged his colleagues to undertake this task, underscoring the importance of thoughtful, measured consideration rather than rushed decisions. The goal is to craft terms that sustain investment while preserving fiscal prudence and market stability.
The president also asserted that the Russian economy is entering a phase described as developing under a new model. He stressed that industrialists and entrepreneurs are currently especially valuable as engines of growth during this transitional period, and that policy should align with the goal of a more resilient, innovation-driven economy. In his view, the shift to this new model stands to benefit firms capable of long-horizon planning and substantial resource commitments, rather than those pursuing short-term gains.
Earlier in the discussion, Putin highlighted a broader approach to economic policy: the state would back responsible firms that pursue strategic development over quick, transient results. He emphasized that companies investing in research, development, the creation of technology platforms, and strong brands should receive unconditional support. In contrast, ventures that fail to demonstrate commitment to durable, value-creating projects could face stricter scrutiny or require different forms of assistance. This stance reflects a preference for sustainable growth driven by innovation, collaboration, and the development of domestic capabilities that strengthen the country’s long-term competitiveness.
In a related note from February, Elvira Nabiullina, the head of the Central Bank, spoke about the importance of adaptability in maintaining economic stability. The governor emphasized that the ability to adjust quickly to changing conditions is a crucial factor for resilience, complementing other structural measures. Nabiullina pointed out that stability depends not only on the level of export prices but also on how swiftly the economy can respond to evolving global and domestic circumstances. Her remarks underscore the central bank’s view that flexible policy instruments and timely responses are essential in supporting sustainable growth and financial confidence across the economy.