Russia’s puppet President, Dmitry Medvedev, says the government can get Russia’s stock market back to the levels it saw at the start of the year.
FT: Russia’s stock market tumbled for a second consecutive session on Wednesday despite an attempt by Russian President Dmitry Medvedev and other officials to shore up the market with promises of government support.
Mr Medvedev said on Wednesday that the 45 per cent slump in Russian stocks since May is temporary, and the government has the power to bring them back to levels seen at the start of the year.
“I think in the end these changes are not dramatic and will bring about a stabilisation. If the right decisions are made, the situation will straighten out,” Medvedev was quoted as saying by RIA Novosti, the state news agency.
“We will return to the levels that we saw at the start of the year. In any case, I believe this is in the power of the government,” Medvedev said.
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