Finance minister: Russia to cut spending 5% in 2015-2017

MOSCOW, Feb 20 (PRIME) -- The Russian government thinks it necessary to cut spending by 5% in 2015-2017, Finance Minister Anton Siluanov told reporters on Friday.

“We base our proposals on the goals set by the president and by the government in the anti-crisis plan, on the necessity to improve the spending 5% in real terms (within three years). Today, we have discussed redistribution of spending, of the main priorities,” he said.

“This is why we will discuss the parameters (of the adjusted 2015 budget).”

The government has retained its target of a deficit-free budget by 2017, he said.

“We must adapt our finances to the new economic conditions,” he said.

The budget funds must firstly be used for social programs and to help key economic sectors, Siluanov said.

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