MOSCOW, May 22 (RIA Novosti) - A 10-year financial planning system will be introduced in Russia beginning in 2008, the country's finance minister said Tuesday.
"We are just setting the task to switch to an experimental mode of a 10-year financial planning from next year," Alexei Kudrin said.
Russia's parliament is currently examining a draft law replacing an annual budget plan with a three-year budget to cover 2008-10, a move designed to streamline the country's finances and expenditures. The three-year budget is seen as a transition to a longer-term financial planning.
The bill echoes budget guidelines President Vladimir Putin outlined earlier this year to properly manage hydrocarbon revenues, ensure sustainable growth by diversifying the economy and reducing dependence on energy exports, cut taxes and improve living standards.
