Dvorkovich assured there are no plans to limit the circulation of cash


The government has “even thought” there are no plans to limit cash payments in Russia, said Deputy Prime Minister Arkady Dvorkovich.

“Nothing like that is planned. There will be no limitation of cash purchases. Even thought no. Is, in General, the global trend is that the share of non-cash turnover increases, but it should happen naturally without artificial solutions” — quoted Dvorkovich TASS.

The idea of limiting cash transactions in Russia began to be actively discussed after January 21, at the Congress of “United Russia” Finance Minister Anton Siluanov urged to resume consideration of this idea. According to him, the restriction of cash turnover would make the economy more transparent and to improve tax collection. “Many countries are following this path — especially look at India, there went a large-scale attack on cash payments”, — gave the example of the Minister. “It is very correct”, — concluded Siluanov then.

According to first Deputy Prime Minister Igor Shuvalov, Russia’s “special history” and it is wary of the exchange of banknotes and to any restrictions. Therefore, said Igor Shuvalov, to introduce administrative restrictions on the circulation of cash “pointless”.

Shuvalov assured that the government do not discuss this issue, and new technologies “should naturally come into use every family.”

The head of the Ministry of labor Maxim Topilin called the proposal of the Minister of Finance “very correct”. “It is the right decision. Where you abroad buy something expensive with cash? There €500 anywhere to change it is impossible”, — said the Minister.

At the same time, Visa payment system is made for the reduction of the amount of cash and supports measures to increase non-cash payments. Visa said that the company supports the efforts of state bodies and the Central Bank of Russia “promotion” of the transition to electronic payments and is cooperating with Russian partners for the implementation of “a new convenient and safe forms of payments.”

The company noted that the substitution of cash has a positive effect on the economy. So, the company clarified that the use of cashless payment means such as credit, debit and prepaid cards, contributed to the growth of Russia’s GDP at $25,93 billion from 2011 to 2015.
  

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