Mikhail Fradkov has called for tougher control over government spending, particularly in investment

Tuesday, January 26, 2021

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Russian Prime Minister Mikhail Fradkov has called for tougher control over government spending, particularly in investment. Speaking at a Cabinet session Thursday, the prime minister instructed the Ministries of Economic Development and Finance to develop a control scheme to ensure that not a single penny allocated by the government goes to waste. Fradkov said the investment share in total budget expenditures will grow substantially in 2006, to $19.77 billion. He also said that if it plans the 2006 budget as a development budget, the government will have to commit itself to spending treasury funds as wisely as possible. Fradkov stressed the importance of adequately financing programs to upgrade production facilities, diversify the economy, and develop high-tech industries.

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