RF govt to discuss budget six-month performance Tue

MOSCOW, August 23 (Itar-Tass) - On Tuesday, the government of the
Russian Federation will discuss budget performance in the first six months
of 2011 and a redistribution of powers between the Ministry of Finance and
the Federal Service for Financial Markets (FSFM).
A government press service official said a report on the first item on
the agenda would be made by Deputy Minister of Finance Anton Siluanov.
According to Ministry data, in the first half of 2011 gross domestic
product amounted to 24.085 trillion roubles, a 3.9 percent increase as
compared with that in the corresponding period of last year. Inflation
rate ovel the six months was 5 percent. Federal budget revenie ran at
5,306.4 billion roubles. Federal budget expenditure in the period under
review amounted to 4,602.4 billion roubles. Federal budget surplus was
703.5 billion roubles.
Deputy Minister of Finance Oleg Savatyugin will present a draft
resolution on a redistribution of powers between the Finance Ministry and
the FSFM as regards regulation of financial markets. The main principle of
the redistribution of powers is to bring the functions of of working out a
State policy and a regulatory framework in the sphere of financial
markets within the competence of the Finance Ministry, including the
elaboration of basic orientations for the developmemt of the securities
market, while the FSFM will exercise normative legal regulation aimed at
refining supervision and control within the established sphere of activity.
Customs Service Director Andrei Belyaninov will suggest considering a
draft agreement on cooperation between the RF and the Republic of South
Ossetia.
Belyaninov will also inform those present of changes in the procedure
for the payment of duties on the expott of oil to beyond the boundaries of
the Customs Union.