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The entire budget system must be stable, sustainable and balanced, the President said. Regular financing for all planned budget items should be ensured right from the start of the year.

Mr Medvedev stressed that the budget must be a real economic policy tool that influences the country’s key economic modernisation processes.

The President set a deadline of March 2010 for drafting a programme to make budget spending more effective. This programme will be taken into account in drafting the 2011 federal budget and the budgets for the 2012–2013 period.

Mr Medvedev also instructed the Government to draft proposals for improving Russia’s investment climate.