“Cheap long-term money” is a new spell that should save the Russian economy. “The economy needs ‘long money’ - it can be used to build everything: from kindergartens and medical institutions to airports and energy facilities,” says liberal economist Mikhail Dmitriev. “We need ‘cheap’ and ‘long-term’ money to lend to the economy, a further reduction in inflation, and competitive banking rates,” states statist President Vladimir Putin in his message to the Federal Assembly.