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Retooling Economy Must Be Fully Funded in 2015-2017 Budget – Putin

© RIA Novosti . Mikhail Klimentyev / Go to the photo bankRussian President Vladimir Putin
Russian President Vladimir Putin - Sputnik International
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Russia’s 2015-2017 budget must ensure sufficient financial backing for measures to retool the economy, Russian President Vladimir Putin said Friday.

ST. PETERSBURG, May 23 (RIA Novosti) – Russia’s 2015-2017 budget must ensure sufficient financial backing for measures to retool the economy, Russian President Vladimir Putin said Friday.

“All measures aiming at technically rearming economy must be fully funded. I ask the Government, while forecasting the federal budget project for 2015 … to consider all necessary resources,” Putin said.

“I’m sure that industrial modernization, construction of new enterprises and localization of competitive production in Russia we will be able to significantly reduce imports in many spheres without violating the norms of international trade or imposing any kind of restrictions or barriers,” he said.

The president said that by 2014 Russia would develop its own strategy on how to phase-out imported goods.

He said that the development of infrastructure with an aim to boost economic development of regions should become a priority for the country.

The Russian leader said ways of improving the investment climate in the Russian regions should be studied closely.

“We will have to study measures encouraging regions to improve their investment climate. I request the government to prepare proposals on the subject,” he said.

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