It is required to adjust such tool of interaction between the government and business, which is called as the government guarantees. This issue is to be considered more as Vladimir PUTIN reported within discussion of the basic areas of the debt policy of the Russian Federation for the years 2012-2014.

“I believe that within this topic it is necessary to pay special attention to interaction between government and business. The matter involves adjustment of such a tool, which is called as the government guarantees. This tool means the liability of the Government, of our country and it serves as a critical factor to involve the means into the major infrastructure, high technology and export-oriented projects”, - as the Prime Minister reported at the meeting of the RF Government Presidium held on the 11^th of August 2011.

In the meeting documents of the RF Government Presidium it is said that in 2011 the federal budget includes the RF Government guarantees at the total volume equal to 551.1 milliard rubles. At this, in 2012 the expected government guarantees volume is to be equal to 482.7 milliard rubles, in 2013 – 490.8 milliard rubles, and in 2014 - 299 milliard rubles. 

“In 2009 about 8.6% of all debt liabilities of the Russian Federation were allocated for the government guarantees, in 2011 this figure was increased up to 17.5% at the simultaneous stable growth tendency for all forthcoming years.

The conditions, which stimulate use of the foreign debt markets by the Russian banks and enterprises as the source of their activity financing at the expense of the funds’ establishment are kept for the planned period. The main prerequisites include deficit of the long-term credit resources at the Russian financial market, relative cheapness of the outer borrowings as well as availability of this resource for the major companies especially when the Government is involved. In this connection Russia as a sovereign borrower is interested in development of the target benchmarks to form the favorable conditions of the borrowings of the national economic entities. The Ministry of Finances of Russia believes that it is necessary to support the Russian Federation presence in the most demanded segments of the outer debt markets. At the same time, it is required to take measures aimed to de-stimulate the inflow of so-called hot money into the country economy in the form of the short-term lends and credits.

In 2012 – 2014 the government debt policy shall be developed on the basis of the necessity: on the one part, support of the corporate Russian borrowers to involve financing at the external and internal markets under the conditions which are to be the most favorable ones, and on the other part, the efficient supervision of the debt situation of the non-governmental sector”, - as it reported at the website of the Government.