Putin calls for tighter controls over cash circulation as part of 'cleaning up' Russian economy

MOSCOW. Dec 8 (Interfax) - President Vladimir Putin believes that cash circulation must be tightened as part of "cleaning up" the Russian economy.

"We absolutely must establish order in both wholesale and retail markets, drastically reduce illegal employment, which violates the rights of Russian citizens, and tighten control over cash circulation. It is important to act wisely and not create barriers to economic growth," Putin said at a meeting of the council on strategic development and national projects.

Putin said that entrepreneurs and companies that conduct business conscientiously should receive new opportunities to develop, as well as direct, tangible benefits from "cleaning up" the market.

"We need to ensure that nothing goes underground, that everything operates legally, and that the corresponding revenues flow into the budget regarding the rise in VAT," Putin emphasized.