In conditions of threats to economy Russia intends to rely on internal reserves - Medvedev

MOSCOW, April 22 (Itar-Tass) - Russian Prime Minister Dmitry Medvedev has said that in the conditions of threats to economic development of Russia the country would rely on its internal reserves and various sales markets. Delivering a report at the State Duma lower house of parliament, the RF prime minister said there are several ways to fulfil these tasks. “First of all, it’s the formation of the budget according to the programme principle. The 2014-2016 federal budget was for the first time developed for a medium term - based on the programmes,” Medvedev said. He noted that “starting from January 1, 2016 the RF subjects are also required to develop and approve programme three-year budgets.” The prime minister admitted that “last year was very difficult for Russian regions.” “The burden on the regional budgets’ expenditure has increased considerably, largely exceeding the revenue growth, the total deficit has increased to 640 billion roubles, correspondingly, the internal and external borrowings have increased,” the RF Cabinet head said. “The government together with the regions is looking for an optimal decision. Several options are currently being discussed, including using public budget loans,” the prime minister said. He also said it was planned to hold soon a special meeting on this issue with the regions. “Another task is to promptly rectify live in accordance with Russia’s laws in two new constituent entities of the Federation - Crimea and Sevastopol. The work has already been arranged, the commission is working, a government meeting has been held,” Medvedev stressed. He also said that “by July 1, a special federal target programme will be created” to support Crimea’s development. Learn more on itar-tass.com