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Russia's chief auditor calls for putting end to senseless spending amid economic turmoil

October 12, 2015, 11:24 UTC+3 MOSCOW
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© ITAR-TASS/Anton Tushin

MOSCOW, October 12. /TASS/. Russia’s budget is getting overburdened with new inefficient spending, and certain firmness in needed for making decisions whether to include senseless and inefficient spending items into the budget, Chairperson Tatyana Golikova said in an interview with TASS.

"The money may have been earmarked for no end of good things, but no effect is шт sight. It takes political will to put an end to useless and senseless spending. Sometimes there is not enough such will. One’s got to have the knack of putting the full stop at last," she said.

"Russia is entering an austerity budget phase and it will have to be selected what should remain on the list of priorities - the government’s full compliance with the previously assumed social commitments or the possibility of dropping some budget articles to make investment into infrastructure," Golikova said. All in all, according to preliminary data provided by the Finance Ministry, $2.5 trillion rubles ($40 bln) are planned to be invested in Russia’s national economy in 2016, which is 11.7% higher than in 2015.

She added that so far the Russian economy has sufficient funds for development processes, which were the aim of those funds’ accumulation. "But 'so far' is the key word here. People continue behaving in such a manner as if everything were still ok. And that’s why one may not particularly save but instead boost new expenditures and not account for the ones made earlier," Chairperson said.

Officials will get aware of new realities in October when all main decisions on 2016 budget will be made, Golikova said.

"In October, one will have to realize the responsibility. Life will oblige," she added.

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