Russia's financial crisis is heightening social tension and the government needs to swiftly implement an economic stabilization package, Prime Minister Sergei Kiriyenko told Parliament Friday.
With economic problems mounting, the Russian government is seeking Parliament's approval for a series of new tax laws. It also wants $10 billion to $15 billion in fresh loans from the International Monetary Fund and other lenders.Kiriyenko, who has been battling assorted economic woes since he took over as prime minister in March, laid out a bleak picture of Russia's finances in his address to Parliament's upper house.
"The financial market has practically ceased to exist," Kiriyenko said. "Social tension is growing in society, which naturally is not helpful to stabilization."