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Russian ministry of finance to set budgetary rules

January 19, 2012, 10:30 UTC+3
According to the minister, it might take several years to finalize such rules
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, January 19 (Itar-Tass) —— Russia’s ministry of finance thinks it necessary to elaborate new “budgetary” rules for the next four years in order to put things to rights as concerns the procedure of raising and spending state funds, Russian Minister of Finance Anton Siluanov said on Thursday.

“We shall speak about the necessity to work out budgetary rules,” he told the Gaidar forum. “Such rules mean a restricted freedom of manoeuvre, but they are the right thing.”

According to the minister, it might take several years to finalize such rules. “There will be a certain transition period, up to the year 2016,” he noted.

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