Control over price growth and implementation of the "FOT 3.0" program were the key issues of the meeting in the Ministry of Economy of the Republic of Tatarstan

The meeting of the working group on the implementation of the Action Plan for ensuring the sustainable development of the Economy of the Republic of Tatarstan, chaired by Deputy Prime Minister of the Republic of Tatarstan – Minister of Economy of the Republic of Tatarstan M. Shagiakhmetov, was held last week in via videoconference at the Ministry of Economy of the Republic of Tatarstan site.

Before proceeding to the agenda, the Deputy Prime Minister – Minister of Economy noted that by the order of the Government of the Russian Federation dd. February 27, 2021 No. 497-r, constant monitoring of prices for consumer goods and services is introduced in Russia.

The new tool will allow establishing a systematic analysis of the market situation, predicting the risks of price growth for significant products and taking timely measures to curb the price growth.

The Ministry of Economic Development, together with Rosstat and the Federal Antimonopoly Service will monitor and evaluate price dynamics. If there is a trend towards accelerated price growth that significantly exceeds inflation, or risks of a significant rise in price, information will be sent to the relevant ministries and departments for subsequent submission to the Government of the Russian Federation of proposals for possible economic response measures.

The signed decree assigns ministries and departments groups of goods and services for which they are responsible for the purpose of analyzing the causes of consumer price growth and developing economic regulation measures aimed at ensuring a balanced market for consumer goods and services.

In addition, from March 9, 2021, banks began accepting applications for granting preferential loans to businesses and socially oriented NPOs under the "FOT 3.0" program. A form developed by the Ministry of Economy for monitoring the participation of enterprises and organizations of the republic in "FOT 3.0" program was sent to the municipalities of the republic. Monitoring of entrepreneurs participation in the new support tool in accordance with the established form will be provided on a weekly basis.

Also, within the framework of the working group meeting, reports of the Spassky Municipal District on ensuring the development of the economy and branch ministries on the growth reserves of the Spassky Municipal District were heard.