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Taking part in the meeting were Prime Minister Mikhail Mishustin, Chief of Staff of the Presidential Executive Office Anton Vaino, First Deputy Prime Minister Andrei Belousov, First Deputy Chief of Staff of the Presidential Executive Office Sergei Kiriyenko, Deputy Prime Minister Tatyana Golikova, Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko, Deputy Prime Minister Alexander Novak, Deputy Prime Minister Marat Khusnullin, Presidential Aide Maxim Oreshkin, Minister of Economic Development Maxim Reshetnikov, Minister of Finance Anton Siluanov and Central Bank Governor Elvira Nabiullina.

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Opening remarks at the meeting on economic issues

President of Russia Vladimir Putin: Mr Mishustin, colleagues, good afternoon.

A week ago, you and I discussed the current situation in the Russian economy, as well as the macroeconomic forecast, which is at the foundation of the draft federal budget for the next three years. We clarified the areas of focus and priorities for drafting the country’s main financial document.

Indeed, following that meeting, the Government has done a large amount of work. I held additional consultations this morning with many of those present here at our meeting. In fact, we were holding them ahead of this meeting, virtually until the last second discussing all this individually with many colleagues. For example, we worked on measures to balance the budget.

I would like to note that, while drafting the federal budget, it is necessary to heed objective factors directly influencing its revenues. I am referring to the domestic macroeconomic situation, as well as the situation on global commodity and financial markets.

I repeat, there are long-term changes and trends in this sphere, and we must offer systemic mechanisms and provide effective responses to challenges facing the entire state financial sphere.

We need to continue stabilising and balancing the federal budget in the next three years and further on. This will allow us to consistently accomplish our planned objectives for modernising the economy and the social sector, for strengthening the infrastructure and supporting regions, and for implementing other national development priorities.

At our previous meeting, we touched upon a number of budget process issues. I hope that today we will adopt specific final decisions, with due account for our work and the morning consultations.

Let us get down to work. Mr Mishustin has the floor.

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