To implement innovative economic development, the country should have a budget deficit of up to 2 percent of gross domestic product after 2015, Economic Development Minister Elvira Nabiullina said Wednesday in Moscow, speaking to the Russian Union of Industrialists and Entrepreneurs.
"This would require a shift in budget expenditures after 2013," she said. The ministry had developed two scenarios &mdash innovative and primary &mdash for the country's economic development through 2030. The scenario forecasting a reduction in the deficit to zero by 2015 "would require a serious decrease in certain expenditures," Nabiullina said.
Therefore, a moderate budget deficit of no more than 2 percent of GDP has been proposed. Nabiullina said the option is not optimal but "so far we haven't found any other choices for the innovation scenario."
(Interfax)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
