German Gref Quotations

The price (of licensed product) needs to be acceptable for the (Russian) population. If it is not acceptable, it is a great advantage for pirates.

Higher grain prices increase the risk of higher prices for bread products.

Higher economic growth without curtailed inflation is impossible.

We will allocate up to half a billion dollars for this purpose next year.

Progress should be made on these two points. The bill on the repatriation of capital is being polished now.

By 2010, GDP will not be doubled but we will be able to achieve fairly high economic growth using additional mechanisms in the medium term to ensure that GDP will be doubled in the longer term.

Foreign and Russian companies should have equal conditions of competition. If a foreign bank or insurance company wants to work on the Russian market, it can establish a subsidiary here. This entails higher standards of operation but equal conditions for all market players.

In my opinion, we have an opportunity to stay within the limits of the planned 9%.

These factors will pass, and the situation will be back to normal.

The size of the gray market should be reduced at least down to 15% by the end of this year.