Today the second international conference on questions of budgetary policy of regions, towns and communes of the European North begins in Petrozavodsk, the capital of the Republic of Karelia. The conference will last for three days, until May 30. Representatives of legislative and executive powers of the 16 regions of Russia, including those of Moscow and St Petersburg, and communes of Finland and Sweden will gather in the capital of Karelia. The Karelian government, parliament and Association of Self-government acted as organisers, as well as the Petrozavodsk State University, providing scientific support of the conference . As announced by the university's spokesman, the participants of the symposium will place emphasis on the comparative analysis of budgetary processes of regions, provinces, towns and communes of the European North. In particular, discussions are scheduled on questions of forming an inter-budgetary relationship between the centre and the periphery, on the priorities and sources of local governmental budgetary financing, on questions of tax policy, and on the role of an open budget as an instrument of the formation of a civic society.
Russia has left the list of 33 largest holders of US government bonds, after the country disposed of at least a third of remaining bonds