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Russian PM says conservative approach better for 2017-2019 budget

July 20, 2016, 14:21 UTC+3

The Russian premier says risks faced earlier remain

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GORKI, July 20. /TASS/. The Russian government needs to adhere to a conservative approach when preparing the budget for 2017-2019, Prime Minister Dmitry Medvedev said when opening the meeting on federal budget spending for the upcoming three-years.

At this particular meeting Medvedev and members of the cabinet will discuss spending on sports, communication and science. At the next meeting, they will discuss the upcoming budget expenditures on industries, energy and transport sectors.

"The risks and challenges we faced are still here. It is better to stick to a conservative approach," Medvedev said.

According to him, it is necessary to form a balanced and transparent budget which would make it possible "to develop the economy, to form more competitive structures, to build up the share of no-oil and gas segment, to improve conditions for business, to boost participation of enterprises in international cooperation as well as to meet social obligations to the population."

Touching upon the topic of the first meeting, Medvedev said that the three-year budget should envisage funds to pay social obligations to people employed in sport, science and communication industries, as well as on development of those sectors.

Speaking about financing of sport and development of physical culture, Medvedev said that it is necessary to allocate money not only on the sport of high achievements, but also for the construction of sports facilities available to citizens.

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