IT companies to get aid amid crisis, official says

Aide to Russia's president Leonid Reiman has suggested that, amid the global financial crisis, IT companies should be granted loans from state bank assets. Since President Dmitry Medvedev and the government had resolved to finance companies with state banks' assets, it would be expedient for IT companies to use such loans in view of the instability on the IT market. To this end, financial needs of IT companies should be carefully studied, and resulting proposals should be submitted to the president's Executive Office.

Additionally, Reiman stressed the need to introduce tax reliefs for IT companies. Amendments to the tax code have been discussed for two years, he noted, adding that the process should be speeded up. Finally, Reiman urged to adopt protectionist policies with regard to Russian IT companies, at least until the situation stabilized. The policies should cover both government orders and support for Russian developers on foreign markets.