RSS   Newsletter   Contact   Advertise with us

Russia approves anti-crisis plan with spending cuts, reforms

Staff writer ▼ | January 28, 2015
The Russian government has approved an anti-crisis plan which includes a reduction of spending and preparation of structural reforms, Finance Minister Anton Siluanov told reporters.
Anton Siluanov
Plan   Finance Minister Anton Siluanov to reporters:
"Yesterday, the authorities held a series of meetings, they approved an anti-crisis plan. The implementation of this plan envisages the absence of budget spending growth. Furthermore, we expect that spending will be lower than the initially planned one," Siluanov said.

The one-year plan also envisages structural reforms to improve the quality of state management and budget and to prevent the country from wasting its reserves in one to two years.

The government will find money for the plan in its anti-crisis reserves, which now stands at about 170 billion rubles, and in the current state programs.

"Measures to reshuffle money, to focus it on the most important and necessary areas will be proposed," Siluanov said.