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IZHEVSK, Russia Nov 18 Russian President Dmitry
Medvedev said on Tuesday that the global financial crisis has
spread to the real economy, and that the many sectors that need
state aid will get it.
"Today it is clear that the crisis is spreading,
unfortunately, from the financial sector into the sectors of the
real economy," Medvedev told reporters.
"Every industry is affected in its own way. It is impossible
to say that one among them is sitting pretty and will not get
state money," he said.
Russia is pushing ahead with a $200 billion state aid
package, and the central bank has spend tens of billions of
dollars propping up the local currency in recent weeks as
investors pulled money out of the country and its stock markets.
Medvedev added that some sectors vying for state assistance
had been heavily leveraged before the onset of the credit
"In a number of cases we are having to help industries that
were living on debt, for example the retail sector," he said.
The comments were notably more downbeat than previous ones
made by Medvedev, who has sought to reassure investors and the
Russian public by saying the crisis could pass Russia by and
will allow it to emerge stronger on the world stage.
(Reporting by Denis Dyomkin, writing by Simon Shuster; editing
by Patrick Graham)