Budget Address of Russian President

Budget Address of Russian President

Today the presidential web-site published the Budget Address.

President Medvedev ordered the development of proposals on the decentralization of duties, including the tax sphere and the sphere of inter-budget relations between federal, regional and municipal levels of the authority by December 1st.

Medvedev considers increasing tax duty for gas sector is necessary. The authorities of Russia discuss differentiation of the tax on natural resources production from 2012. For the companies, which own infrastructure, the tax can be increased in two times.

Medvedev suggests limitation of oil and gas revenues usage, as well as of budget deficit.

New model of economic growth should be established in Russia in the nearest years, not all current elements of budget and tax policy meet these targets, Medvedev stated.

Medvedev also noted success of the governmental efforts in the sphere of adoption legislative pieces, which are necessary for implementation of the federal budget.

In 2010 the report on the federal budget implementation was adopted by the Federal Council of Russia ahead to the development of the federal law on the federal budget for the next financial year.

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