Belarusian president comments on military cooperation with RussiaMilitary & Defense September 20, 14:24
Kremlin brands actor Morgan Freeman ‘victim of emotionally-charged, self-exalted status’Russian Politics & Diplomacy September 20, 14:07
Kremlin expects Lithuanian president to change view on Zapad-2017 drillsRussian Politics & Diplomacy September 20, 13:46
Russia still has to agree on two points for Arctic shelf expansionBusiness & Economy September 20, 13:44
Belarussian military at Zapad-2017 exercise achieves goals set — LukashenkoWorld September 20, 13:29
Infantino congratulates Russia’s Sorokin on being elected to FIFA CouncilSport September 20, 13:10
Press review: Tajikistan obstructs Iran’s SCO bid and Moscow works to end Palestinian riftPress Review September 20, 13:00
International researchers suggest quantum computers boost machine learningScience & Space September 20, 12:45
Putin keeps emphasizing respect for every country’s sovereignty — KremlinRussian Politics & Diplomacy September 20, 12:44
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.