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Putin Urges Government to Prioritize Budget to Focus on Important Areas

© Sputnik / Alexei DruzhininRussian President Vladimir Putin
Russian President Vladimir Putin - Sputnik International
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Vladimir Putin urges the Russian government to consider measures to optimize the country's budget to better prioritize distribution of funds in some important areas. Russia might cut the federal budget by 10-15 percent in 2015, and deploy some financial reserves to support fiscal stability in the country.

NOVO-OGARYOVO, January 26 (Sputnik) — Russian President Vladimir Putin said Monday the government should consider measures to optimize the country's budget to prioritize allocation of funds in some areas.

"It is necessary to think, of course, about the optimization of budget expenditures, like we did it in 2008-2009, so that we could increase financing in some areas…," Putin said at a meeting with top government officials on economic issues.

"We must look again at our priorities," Putin said.

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The president also ordered the government to meet with lawmakers to consolidate strategies under the anti-crisis plan due to be adopted on January 27.

Russia is currently experiencing an economic downturn, largely due to a dramatic drop in oil prices, as the country’s budget depends heavily on energy exports.

On January 21, Russian Deputy Prime Minister Arkady Dvorkovich said that Russia might cut the federal budget by 10-15 percent in 2015, and deploy some financial reserves to support fiscal stability in the country.

On January 14, Russian Finance Minister Anton Siluanov said Russia was likely to take steps to optimize its expenditures, with the country’s budget deficit in 2015 standing between two and three percent.

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