icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russia’s state budget finally approved

Russia’s state budget finally approved
The State Duma has passed the 2007 federal budget in the fourth and final reading. Now the document will go to the upper chamber of the Russian Parliament.

Russian Finance Minister Aleksey Kudrin has dubbed it an investment in the future generation.

The budget features the largest revenue the country has seen over the last 15 years – more than $US260 bln as well as the largest spending of about  $US 205 bln.

Financing of priority projects, including agriculture, education, healthcare and affordable housing has increased by more than half, while spending on national defence has increased by $US 1 bln.

For the first time the budget includes a venture fund of about $US 500 mln to finance technological start-ups in order to diversify Russian economy away from oil & gas towards innovation technologies.

Podcasts