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Budget for 2013 to be social oriented -- PM

September 20, 2012, 16:19 UTC+3

The main versions of the forecast, Medvedev said, are based on an estimate of external conditions

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MOSCOW, September 20 (Itar-Tass) — Prime Minister Dmitry Medvedev has assured those present at a government session here on Thursday that the budget for 2013 and for the plan period until 2015 will be oriented towards the social pledges made by the State.

"The priority of the budget remains unchanged, namely, this signifies an absolute fulfillment of the social pledges made by the State before the citizens; these are the obligations which we assumed: to modernize the economy, infrastructure, and the social welfare sector in the interests of our people," Medvedev said. He emphasized that the budget had been calculated with an eye to the forecast made by the Ministry of Economic Development, the estimates of which rely on domestic business and on foreign investors for a three-year term.

The main versions of the forecast, Medvedev said, are based on an estimate of external conditions. "As far as our economy is concerned, its competitiveness must be raised, proceeding from the basic scenario of the forecast and, on the whole, the investment climate must improve," the Premier pointed out. "State expenditure on the development of infrastructure must grow at a moderate pace, with public sector workers' wages and salaries growing at an accelerated pace".

According to the Head of Government, "It is expected that gross domestic product will grow by 4.2 percent every year on the average." The government also expects an increase in investments in the capital stock and a rise in retail trade turnover. "The growth of industrial production is projected to be at a level of 3.7 percent, inflation rate at 5-6 percent in 2013 and not more than that, and hopefully at 4-5 percent in the 2014-2015 period," Medvedev added.


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