The Russian government will use its efforts to ensure maximal preservation of the country’s current macroeconomic stability, formation of a prudent state budget and full observance of strict budgetary discipline in state expenses, Prime Minister Vladimir Putin said. Specifically, he drew the attention of his ministers to the fact several foreign countries exiting the current are encountering such problems as disbalance in state finances and excessive state debts that are constraining economic recovery and fueling serious social tensions.
“We need to avoid such risks. We cannot spend more than we earn. Therefore, it is imperative to keep macroeconomic stability,” he said. “This should be our major competitive advantage, a resource for more effective development, attraction of long-term investments and stimulation of business activity in the country.”
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