MOSCOW, December 17 (RIA Novosti) - Russian Finance Minister Alexei Kudrin said Saturday that 11% inflation in 2005 had been caused by an excessive spending of petrodollars in the country.
He told the Rossiya TV channel that inflation did not exceed 3-4% in other oil producing countries.
"If we do not want wages and pensions of our citizens to decrease by 11-15%, we should be more cautious in spending petrodollars" and financing major investment projects, Kudrin said.
"The construction of roads and power plants causes inflation," he said.
The minister said the budgetary discipline would be toughened next year.
"Officials should be more accurate in decision-making beginning with January 1," he said.
