VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
“We must reorganise budgetary expenditure for 2010, and many projects will have to be cancelled or delayed until a later date. But all the key priorities linked to investments in human resources and in the innovation sectors of the economy must be retained.”
“Economic conditions are very uncertain. But we need to take this uncertainty into consideration, and at the same time understand that we will have to pursue a tight and highly responsible budgetary policy in the next few years. In particular, we must gradually reduce the budget deficit (I will speak about that later), limit the growth of budgetary expenditure, and increase the payoff from each invested rouble. These are the bases of macroeconomic stability and successful post-crisis rehabilitation of the economy.”
“In the draft budget for 2010, we must find an optimal balance for resolving simultaneously a whole number of objectives. First, we must secure the improvement of living standards for the senior generation and modernise our pension system. As you know, a considerable sum of more than 600 billion roubles has been appropriated for these purposes. <…..> Second, we must actively continue using the instruments of enhancing demand for domestic products, which have proved their worth, such as leasing, subsidies for interest rates on loans, and support of exports. Third, we should not forget about the goals of long-term development, programmes for modernising the infrastructure, and support for the high-tech industries. As you know, only yesterday we had a general discussion on supercomputer technology at the Security Council.”
"The cost of this pension reform to the budget is very high. It runs into hundreds of billions of roubles per year. Needless to say, it will be difficult for the Government and the members of Parliament to find the funds for the pension reform in conditions of declining production and reduced budget revenues due to the current global financial and economic crisis. It is time for us to think about ways we can save. We cannot do without an economising effort."
"The budget for healthcare and demography should fund effective measures making sophisticated medical technology more accessible, and improving aid to patients with cardio-vascular diseases, cancers and traffic accident victims."
"There is another pivotal objective-to implement a rigid programme for budget deficit reduction from present-day 7.4% to 3% of the gross domestic product by 2011."
"However, it should remain a development budget-that is, tied in with long- and medium-term plans. Available priority projects should be entitled to priority funding. Practical social pledges underlie each of those priorities-the development of healthcare and education, laying in technological and infrastructural reserves, security and regional development. All this, in the final analysis, determines higher living standards and economic competitiveness for many years ahead."
"It should be said that federal budget spending on the national economy has been increased by 70% in 2009, to a record-high 1.733 trillion roubles (it was 1 trillion roubles in 2008)."
"I have already put the 2009 deficit at 3 trillion roubles, which is in the order of 7.4% of the GDP, as I said, but taking into account those quasi - fiscal resources, and above all, the same expenses from the central bank for the capitalisation of Sberbank, other expenses, it will be 8%. Such a sizeable deficit is a strong, effective medicine for the economy, but it should not be misused. That is why our plan envisages a strict programme to lower the deficit to 3% of the GDP by 2011. At the same time we suggest a war on inflation."
“The deficit problem must be addressed by civilized methods accepted in the whole world, out of the reserves accumulated in the previous years or, if the need arises-let me stress that there is no such need for now - by borrowing in the market.”
