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Today in Russian Business – Dec 23, 2011

Prosecutor General Yuri Chaika says that 31,000 cases of corruption were prevented by Russian police this year.  ‘The number of bureaucrats is growing, even though the population as a whole is not.’  Russia unexpectedly cut its benchmark refinancing rate by a quarter percentile today, in a decision based on ‘the estimation of inflation risks and risks to the stability of economic growth’.  Consumer inflation is anticipated to reach 7% percent next year, amid reports that the central bank will start easing monetary policy next year.  ‘The political turmoil has spooked investors, but a Russian Spring could ultimately be a great buying opportunity.’ Gazprom is going to help promote Mikhail Prokhorov’s plan to build the Yo-Mobile, a fuel-efficient car.  Shareholders at Domodedovo airport estimate its value at $5 billion.  VTB will receive 20% of Metalloinvest as repayment for a $1.5 billion loan.