Source Pravda.Ru

Finance Ministry plans cuts in state expenditures

The Russian Finance Ministry plans to cut state expenditures in 2003 throughout 2005 by more than 35bn rubles (about $1.12bn at the current exchange rate), a source in the ministry reported to RBC. On April 10, the Cabinet will consider work of the government's commission for optimization of budget expenditures headed by Finance Minister Alexey Kudrin. The source noted that budget expenditures would be cut by 1bn rubles (about $32m) this year already. According to the ministry's plans, these cuts will be possible due to saving on allocations for emergency situations, calamities, education, the health sector and the physical culture.