The Chairwoman of the Federation Council, Valentina Matvienko, stated that Russian authorities must “save every penny,” amidst increasing pressures on the state budget.
According to this, one of the measures to reduce expenses would be to give up public funding for the numerous forums and events organized in Russia. Matvienko believes that these should be financially supported by the business environment.
“We must live modestly and save every penny efficiently,” the Russian official declared.
She also warned that the budgetary situation is “worrisome” in several regions of Russia. Last year, the cumulative deficits of regional budgets reached a record level of 1.5 trillion rubles, and their debt increased to a historic high of 3.5 trillion rubles.
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