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
“The key role in replenishing the budget is to be played by more traditional sources of revenue, i.e. regular taxes paid by enterprises and individuals. Such taxes are less exposed to the influence of commodity markets and therefore ensure stable budget revenues.”
“We have to proceed from the assumption that the federal budget will report a deficit not only this year but also in the next several years. This circumstance imposes particular responsibility on the Government and calls for a conservative budget strategy that would preserve and strengthen confidence in the national financial system.”
"Let me give you the main characteristics of the budget. The revenue is 6.7 trillion roubles, the expenditure is 9.7 trillion. It is easy to see that the deficit is 3 trillion roubles, which is almost 50% of the budget revenue and 7.4% of the GDP. The amount is considerable but not unmanageable. I think our behaviour under the circumstances is responsible. It has been decided that the entire deficit will be covered out of the Reserve Fund. The figures are eloquent. It is not only about adapting the budget to the new economic conditions. The changes are fundamental, they determine our financial policy in the medium term."
"379 billion roubles have been earmarked for transfers to the Pension Fund and other extrabudgetary funds. We also intend extra banking allocations and extra transfers of 150 billion roubles to the regions, plus loans worth the same amount. Russian Railways will receive 54.6 billion roubles. 35 billion roubles will go for war veterans' housing. 100 billion will go to the reserve. Other anti-crisis measures concern loan interest subsidies."
"The amendments proposed by the Ministry of Finance serve to regulate the use of the Reserve Fund to cover the budget deficit that we will have to face over the course of the next few years. We have made a calculated decision to use the available reserves on a large scale, despite a drop in budget revenues, so as to fully adhere to the Government's social commitments and to fund anti-crisis measures."
“As we have said on more than one occasion, we will not reduce the budget's expenses in 2009. On the contrary, they will be slightly increased even further, because we will have to spend money on anti-crisis measures. In addition, the draft grants broader rights to the regional authorities for supporting municipalities.”
“At the same time, considerable allocations must be re-channeled to anti-crisis measures, pensions, public-sector wages, other social commitments to the population and financial aid to Russian regions in line with inter-budgetary relations. State defence contracts and high-priority national projects will be funded ahead of schedule.”
"The very same budgets are a source of numerous social benefits. Such budgets must therefore be amended in such a way as to rule out any wage and benefit arrears in any, even the most unfavourable situation as regards revenues. I am also asking you to prioritise sufficient regional and local budgetary allocations for implementing employment programmes. This implies mandatory co-financing on the part of regions and additional measures that can be implemented by them."
“In March, all of us will have to make a responsible decision and approve a new version of the federal budget. As has already been said, there are no plans to reduce overall expenditure volumes. In fact, budgetary expenditure will increase by a small margin.”
“We have not cut social expenses in adjusting the budget. On the contrary, in absolute figures we are increasing it, although only slightly. In relative figures there is no reduction, either, as compared with other areas of government activity. Moreover, there is even an increase. I'm referring to the special character of measures needed in the circumstances. I know that the majority of European Governments share this approach and are taking active measures to alleviate the consequences of economic turmoil for their citizens.”
