NOVO-OGARYOVO, November 6 (RIA Novosti) – Russian President Vladimir Putin proposed on Wednesday that the government consider spending money from a windfall oil revenue fund on additional transportation projects, the Prime business news agency reported.
He said the National Welfare Fund, a key fiscal buffer built up by the Kremlin during years of high energy prices, could be used to develop Moscow airports and “strengthen the potential of Siberia and the Far East.”
Putin earlier said that the money from the fund would be used to finance an upgrade of the Trans-Siberian Railroad, the construction of a new multilane highway encircling Moscow, and a new high-speed railroad between the Russian capital and Kazan.
The portion of the fund that can be spent on such projects will remain at the level of 40 percent and will not be raised, Deputy Prime Minister Igor Shuvalov said the same day after a meeting with Putin.
