Union Budget to Be Modernized Within Two Years

Summarizing the joint board sitting of Belarus’ and Russia’s Ministries of Finance, Russia’s Minister of Finance Aleksey Kudrin said that the Union State budget would be modernized within two years.

Summarizing the joint board sitting of Belarus’ and Russia’s Ministries of Finance, Russia’s Minister of Finance Aleksey Kudrin said that the Union State budget would be modernized within two years.

The key objective of the work in this area is “to harmonize the Union State budget project and improved up-to-date budgetary procedures of our countries,” added A.Kudrin.

During the joint board meeting Belarusian and Russian parties agreed to set up a task group which will deal with these issues. Within a month it should work out a plan of activities aimed to improve Union State budgetary process.

Aleksey Kudrin also informed that on March 19^th the government of the Russian Federation had approved a new variant of the budget-2009. In his turn Belarus’ Minister of Finance Andrei Kharkovets noted that new budget estimates had been examined in Belarus as well. “We have discussed it in the regular course of work and next week it will be introduced before the Head of State,” he said.

The representatives of Belarus’ and Russia’s Ministries of Finance have also considered a number of issues seeking to work out joint crisis management measures, maintain support, provide credit reserves as well as expand the application of national currencies in mutual settlements. The decisions taken in this area will be worked further on during the week.