"We increase budget spending by a quarter every year, but the number of the poor does not go down," Alexei Kudrin said in a television interview.
He also said the government should provide more generous support for public-sector pensioners, one of the least advantaged population groups financially.
"We are now going through a stage at which we can pay more attention to the pension system and to our pensioners. This is where the Stabilization Fund may come in handy," he said, referring to the "rainy-day" fund Russia has built with its windfall oil revenues.
Despite Russia's recent dramatic petroleum-led economic growth, an estimated 20% of the population still lives in poverty. The minimum monthly pay has been set at 2,000 rubles ($76), but 10% of public-sector workers have to survive on wages below that level. The average pension is 1,900 rubles ($72).
Kudrin said fighting against corruption is also among the government's other key priorities in the financial sphere.
He said federal laws will be tested for corruption loopholes to ensure that budget allocations are not misused.
"I am now bringing lawyers and economists together into a team that will test all laws for proneness to corruption," said the minister.
