综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Global General

Special

Newsmaker

Asia Pacific

America

Middle East

Europe

Africa

Putin predicts 2010 budget deficit

(Xinhua)
Updated: 2009-07-31 00:03

MOSCOW: Prime Minister Vladimir Putin predicted on Thursday that Russia will run a budget deficit of 3.2 trillion rubles ($101.5 billion), or 7.5 percent of its gross domestic production (GDP),  the "maximum deficit" the country can afford without harming economic stability.

"I should say frankly that this is the maximum deficit we can afford without harming macroeconomic stability," Interfax quoted Putin as saying at a government meeting on federal budget for 2010-2012.

Related readings:  Russian economy declines faster than expected  Angry Russian boss pays workers in coins  Putin's hard man image targeted by spoof web song  Putin stuck in the past, says Obama  Picture by 'new artist' Putin fetches $1.1 million

Putin said the budget deficit should be reduced to 4.3 percent of GDP in 2011 and less than 3 percent in 2012. "This is a guarantee of macroeconomic stability and the successful post-crisis restoration of the economy," he explained.

The budget expenditures planned for 2010 should be revised, but investment in human capital and the economy's innovative branch will be retained, he said.

Over 70 percent of next year's budget expenditures are clearly intended for social purposes and expenditures under the social policy section will increase by more than 10 percent, Putin said.

"Expenditures on national security and defense have been virtually kept intact," he added.

The Russian economy, heavily dependent on exports of energy and raw materials, has been hit hard by the global financial crisis.

The Russian GDP contracted by 10.1 percent in the first half of this year, and the country is estimated to run a budget deficit of 9.4 percent of GDP, its first deficit in a decade.