Sechin called for an increase in dividend payments in favor of the Russian Federation

Igor Sechin, Chief Executive Officer of Rosneft, speaking at an Energy panel at the XXVIII St. Petersburg International Economic Forum, suggested that Russian banks with state participation increase the payment of dividends in favor of the state. According to Sechin, this will reduce budget risks, allow the authorities to consider easing fiscal regimes for manufacturers and will become an incentive for the country's development.

"The banking system is stable due to the relatively low tax burden and increased yield on federal loan bonds, which allows it to operate with high efficiency. But we expect an increase in its contribution not only to the budget, but also to the country's economy. At a minimum, an increase in dividend payments in favor of the state would be reasonable and expedient and could reduce budget risks, which would allow us to consider reducing fiscal regimes for producers and become an incentive for the country's development," Igor Sechin said.

The head of Rosneft recalled that for more than three years the Russian economy has been under unprecedented sanctions pressure. "However, despite numerous negative forecasts, during this period it was able to establish its viability. In the last two years, Russia's GDP growth has exceeded the global average," he stressed.

According to the Ministry of Finance, the federal budget remains balanced, and the level of public debt is stable and under control, Igor Sechin noted.