Source Pravda.Ru

Kasyanov Believes Russia's Budget is Stable

The stability of the Russian budget will be guaranteed regardless of world oil prices, Russian Premier Mikhail Kasyanov said to the media on Tuesday.

Budget expenditures will be based on the forecast average oil price of $20 per barrel in 2004. The Premier assured that the government would be able to keep up stability even if oil prices were lower.

The government is making efforts to gradually cut budget expenditures in proportion to GDP.

The Government Head pointed out that the past three years had seen great economic changes and new ways to pursue policy. "The country possesses huge gold and currency reserves, people have come to understand the way industry operates and taxes are paid," Kasyanov stressed.

First quarter results suggest an upward trend in the food, wood processing, car-making and construction material industries, that had seen no growth in the previous years. "Every effort will be made to keep the industries growing; we will try to involve other sectors, for example the light industry," Kasyanov said.

Comments
Russia to raise sunken floating dock
Unemployment in Russia hits record high of 15 percent
Third Rome and geopolitics of Orthodox schism
Brexit: The UK's misunderstanding of Democracy
Why Trump tries to re-industrialize America
Why Trump tries to re-industrialize America
MP suggests replacing Lenin's mummy with rubber figure
Russian Navy admiral says Russia will torpedo US warships, if need be
The horror story called Brazil: Murder and destruction
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Five years after Maidan revolution, Ukraine remains one of Europe's most corrupt states
Why Trump tries to re-industrialize America
USA plays to pretend a mighty dragon that can no longer breathe fire
US interferes in election of Interpol president, Kremlin believes
US interferes in election of Interpol president, Kremlin believes
Five years after Maidan revolution, Ukraine remains one of Europe's most corrupt states
Brexit: The UK's misunderstanding of Democracy
Kuril Islands dispute between Russia and Japan: The impossible is impossible
Argentina hides the truth about the death of San Juan submarine
Japan ratifies agreement to supply weapons and ammo to warring states
Russia to ban capture of killer whales and belugas in 2019