By Lada Korotun

Russian lawmakers believe innovation, support of small business activity, tight supervision of finances and expenditures can successfully steer the country through the troubled global economic waters these days. Such statements were made to the media after the Duma members heard a performance report delivered by Prime Minister Vladimir Putin.

Dr. Igor Igoshin of the governing United Russia party, who is Deputy Chairman of the Duma’s Science and Technology Committee, said: “Small businesses can look forward to expansion and an easier life as a result of the deregulation. They would benefit immensely as a result of our arrangements to provide easy credit access. Supporting the banks, however, does present problems. It is true that the bankers must possess sufficient liquidity if they are to extend credit to businesses. Unfortunately, the banks are quick to receive rescue money but not so quick to translate it into loans.”

The Communist Party is pushing an alternative anti-crisis plan. Mr. Nikolai Kolomiytsev sits on the Duma’s Social Affairs and Labor Committee: “All natural resources and all systemically important banks must be immediately nationalized. The government must also provide targeted support to key industries and exercise tight control over administration, spending, and decision-making. Other support targets are science, defense, and the agriculture sector.”

Now the government is analyzing some 2 thousand proposed corrections to its anti-crisis program.