Medvedev chose a European solution to the crisis

Government Regulation igry25-05-2009 Medvedev chose a European solution to the crisis today, Russian President Dmitry Medvedev, first time in the history of the national institute of presidency, personally announced the government theses state budget policy for the coming years. It was apparent that the budget message, which became the main intrigue of the outgoing spring, will be the nature of crisis management. Russia has substantial losses on the background of the global economic downturn. The fall in world oil prices, the collapse of the domestic stock market, the crisis of liquidity in the banking system - that was the recipe for the Russian recession. As recently stated Statistics Service, Russia has distinguished the deepest downturn of gross domestic product and the highest inflation rate among the "Big Eight" in the first quarter of 2009. Decline in GDP in the first quarter of 2009 compared with the first quarter of 2008 in Russia amounted to 9.5%. Prices since the beginning of the year, on average grew by 6.5%. According to estimates, the budget revenues this year will be as much as one-third less than the cost, that is, the budget deficit will be about 3.2 million rubles. Next year's budget deficit will amount to not less than 7% of GDP, said the Government, Dmitry Medvedev, stressing that it is more optimistic assessment. However, he noted, the accumulated reserves still allow you to perform social obligations, as well as "to spend serious money on anti-crisis policy".