Russia's premier: Budget will decrease in following three years
Date
9/25/2022 4:09:01 AM
(MENAFN) Russian Premier Mikhail Mishustin stated on Thursday that the nation's budget will decrease in the following three years.
Addressing at a government conference in Moscow, Mishustin declared the draft budget covers many difficulties, as well as Western restrictions.
"As a result, the draft budget combines optimal solutions for the current situation. It guarantees the fulfillment of all social obligations of the state to people. It contains resources for strategic tasks, which the president has defined in the form of national goals," he added.
Russia will reorganize its economy, as well as through reorienting export, closing output chains inside the nation, guaranteeing technological sovereignty and following a balanced rule of supporting internal demand.
The measures suggest the transition to the steady financial expansion at a level above 2 percent by 2024, on the words of Mishustin.
Meanwhile, the state expenses will be higher than incomes and will be covered by administration borrowing, he also declared.
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