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PM predicts budget revenue decrease to extend into 2010
RBC, 25.03.2009, Moscow 18:12:54.Russian Prime Minister Vladimir Putin expects the federal budget revenue to continue shrinking even in early 2010, he told a meeting with the heads of the Federation of Independent Trade Unions of Russia and primary trade union organizations. "It is clear now that we will enter 2010 with the same trend of the global crisis," he said. Putin noted that within the next few months, the government would have to lay out the federal budget for 2010-2012 - from scratch. "We have to do this because budget revenue is dwindling, and it is perfectly clear that this (decrease) will extend into next year, as well," Putin stated. The prime minister pointed to the slow rate at which the global economy was recovering, indicating, however, that Russia had substantial reserves to compensate for the fall in revenues. "Most of the deficit (in 2010) will be financed from the reserves accumulated earlier," Putin stressed. He emphasized that "in today's difficult economic conditions, Russia cannot blow federal budget spending out of proportion."
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