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Expanded fuel and energy output made it possible to meet economic demand and strengthen Russia’s positions on the global energy market.

Mr Yusufov said fuel and energy companies had contributed over 700 billion roubles to all levels of budgets in 2003.

According to Mr Yusufov, this sum will increase by 20–22% in 2004. The Minister said expanded production in every sphere of the fuel and energy sector would boost budgetary proceeds.

Mr Yusufov told President Putin about plans to raise the wages of the fuel and energy sector workers, whose incomes had already increased by 12% in 2003. The coal industry and the power industry have also started paying their employees more.

The Minister assured President Putin that the fuel and energy sector was ready to develop new oil and gas deposits and to open new mines for producing coking coal and coal. This will boost employment by 5.5% in 2004.