The 2003 budget includes an increase of 33-35% compared to 2002 in expenditure on scientific research. This was announced to Russian President Vladimir Putin on Wednesday by Minister for Science, Industry and Technology Ilya Klebanov. According to the president's press office, the minister announced that total expenditure on science would increase by USD 1.26 billion. This came as a result of an agreement that was signed in March concerning national politics in the area of science and technology, which included plans for financing this area up until 2010.
The Academy of Science will especially benefit as in 2003 5% of total expenditure will go towards modernizing its scientific and experimental equipment. An increase in scientists' wages is also planned as part of the new budget.
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