New Russian Prime Minister vows to set clear priorities of budget spending

New Russian Prime Minister vows to set clear priorities of budget spending

Russia’s new Prime Minister Mikhail Mishustin promised to maintain macroeconomic balance and clearly prioritize budget spending, TASS reports.

"Of course, to achieve these goals [of the government’s work in the socio-economic sector], we need to maintain macroeconomic balance, and therefore, to accumulate additional revenues to fulfill the commitments," he said in State Duma, lower house of parliament earlier on Thursday. He was speaking at plenary session of the State Duma, as a candidate for the post of Prime Minister. Later on Thursday, the State Duma approved his candidacy and President Putin signed a decree appointing Mishustin as Russia’s new Prime Minister

"We should clearly prioritize budget spending, keep inflation within the given parameters, no higher than 4%," Mishustin added.

He stressed that he is going to closely cooperate with the regions of Russia and heads of regions on all key issues of economic and social development.

"I am convinced that by doing so we will be able to ensure the most effective work and to bring the solutions many regions have to the federal level," Mishustin said.

As one of the priorities for his government he named the development of transport infrastructure in particular removal of infrastructure restrictions for the regions and the country as a whole. Mishustin mentioned roads that connect the regional centers and federal highways, as well as bypasses of large cities.

"We can spend funds of the National Wealth Fund on such payback projects already this year, as the President stressed in his Address to the Federal Assembly, this year," Mishustin said.

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