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No need to raise taxes in Russia - Medvedev

April 24, 2012, 12:48 UTC+3
"There are other ways and sources to fulfill all announced programs, they are primarily linked with more efficient use of budgetary funds", Medvedev said
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, April 24 (Itar-Tass) — Russia’s outgoing President Dmitry Medvedev said on Tuesday there is no need to raise taxes in the country.

“Let us be frank: there is no need to raise taxes. There are other ways and sources to fulfill all announced programs, they are primarily linked with more efficient use of budgetary funds,” Medvedev said at an extended session of the State Council. Moreover, in order to make the economic policy more predictable and enhance budgetary discipline it is necessary to introduce a strict budgetary rule fixing maximum amount of deficit and debt, and procedures for forming and using of the Reserve Fund and the National Welfare Fund.”

“This rule must be in effect beginning from next year,” he stressed.

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