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The President answered a question about the meeting he had on the eve with Pope John Paul II. He said his conversation with the Pope was productive and circumstantial, though they did not discuss prospects for a papal visit to Russia.

As he spoke of the economic situation in Russia, Mr Putin said he hoped the Government would find sufficient arguments and arrive at compromises for the State Duma to pass tax reform bills.

One of the questions concerned the President’s talk with prominent Italian businessmen. He said they had discussed taxation, investment climate improvement, and the necessity to streamline the Russian financial system.