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The main reports were delivered by First Deputy Prime Minister and Finance Minister Anton Siluanov and President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin.

The meeting participants also discussed a number of other important matters.

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President of Russia Vladimir Putin: Good afternoon, colleagues,

I will begin by saying that as you are aware, several days ago an expanded meeting of the State Council Presidium took place in Crimea, where governors and Government members, ministers and deputy prime ministers discussed ways to organise work to implement the May executive orders and national projects.

In this regard, I would like to once again note that fairly large, not to say unprecedentedly large, amounts of money are being allocated, with a significant portion of these funds coming from the federal budget, and the bulk of work must be done locally in the regions.

In this regard, it is, of course, important to establish an effective interaction mechanism. Here is what I would like to draw your attention to: the usual forms of financing used in our work with the regions are not enough in this particular case.

We need to have a clear understanding of what the regions will do with this money. It is imperative to not only allocate these resources, but also to make sure that these resources are spent efficiently, and to establish strict oversight over implementation of the tasks at hand.

To reiterate, our goal is not to just use this money or to report the completion of the project on paper, but to raise the living standards of Russian citizens and to give a new impetus to the country's economy. I hope that the mechanisms that we discussed earlier will be put to good use.

The governors came up with corresponding proposals during our deliberations. The deputy prime ministers are aware of them, and we will summarise all these proposals. Please go ahead and analyse them as soon as possible and use them in creating a mechanism for joint work, which I mentioned earlier today.

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