No flights of Russian, Syrian aviation over Aleppo in last 7 days — Defense MinistryWorld October 25, 5:24
Crimea’s integration, ecology to dominate agenda of RPF forum in YaltaRussian Politics & Diplomacy October 25, 4:31
At least 48 people killed in attack at police college in PakistanWorld October 25, 3:50
Patriarch Kirill I to hold major news conference as part of Orthodox media festivalSociety & Culture October 25, 3:12
Medvedev to hold session of Presidential Council on Strategic Development on TuesdayRussian Politics & Diplomacy October 25, 1:49
Moldovan court issues warrant for arrest of opposition figureheadWorld October 25, 1:33
Ukraine’s prosecutor general seen as possible successor to President Poroshenko — MPWorld October 25, 0:23
51 ceasefire violations reported in Syria in past day — Russian reconciliation centerWorld October 24, 23:32
Two Ukrainian cities support initiative for broader status of Russian languageWorld October 24, 23:31
WASHINGTON DC, April 22 (Itar-Tass) —— Russia acknowledges the need for budget consolidation and recommends other states not to delay such measures, according to Anton Siluanov, Finance Minister, head of the Russian delegation to the meeting of finance ministers and Central Bank heads of the G20 and the session of the World Bank/International Monetary Fund ruling bodies in Washington DC.
“Extra money supply caused a temporary improvement in the world economy. The European Central Bank issued sums equivalent to $1 trillion, which temporarily normalized the liquidity situation. The question is how long the effect will last and what impact the measure may have on further stabilization,” he said on Saturday.
“Meanwhile, fundamental economic problems are not being resolved in many countries, and debts of European states have grown in the recent months,” Siluanov said.
“Budget consolidation should be imminent. Proposals have been made at the Washington negotiations to wait until an economic improvement. However, if no such improvement occurs, a growth of state debts may require even more serious budget consolidation measures,” he said.
“Russia needs to consolidate its budget, as well. Although its debts are low (9.8% of GDP), the budget is highly dependent on crude prices. The non-oil and gas deficit has nearly doubled to 9.6% since the pre-crisis period,” Siluanov said.
“If all countries display their adherence to the optimization of expenditures, reduction of debts and dependence on crude, that would have a general positive effect on the world economy,” he concluded.