PUTIN SENDS 2006 BUDGET MESSAGE TO PARLIAMENT

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MOSCOW, May 24 (RIA Novosti) - President Vladimir Putin has sent a message on the 2006 budget policy to the parliament (the Federal Assembly), the Kremlin press service reports. The message was sent in accordance with Article 170 of the Budget Code. The document reviews the budget policy of last year and the first months of this year and determines Russia's budget policy for the coming fiscal year. The president sent his previous budget message on July 12, 2004.

The document, in particular, singled out major problems requiring solution, the goals of the budget policy in 2005 and in a medium term. The key aim was common macroeconomic balance.

According to the 2005 message, the fundamental budget parameters were to provide guaranteed execution of budget liabilities, tie-up of excessive monetary liquidity, gradual reduction of budget spending on the state debt considering the peak of foreign debt payments that was due in 2005.

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