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9 Mar, 2007 13:20

2008-2010 budget outline released in Russia

2008-2010 budget outline released in Russia

A budget message for 2008-2010 has been sent to the Russian parliament and government. The document outlines the budget policy of the state for the next three years and is a base for draft budgets.

After sending the budget message, Russia's President Vladimir Putin also said that inflation in Russia must be reduced to 3-4 % per year.

He called for the use of long-term budget planning, suggesting it be done 3 years in advance, and using long-term budget forecasts.

The president also requested a flat tax rate for individuals.