Russia on Thursday postponed a government debate about slashing the budget as a political battle about how to manage the economic crisis erupted into a public spat.
Arkady Dvorkovich, a top presidential economic adviser, on Thursday batted back suggestions made earlier this week by a leading liberal, Igor Shuvalov, first deputy prime minister, that the budget would be cut to reduce the fiscal deficit and conserve Russia’s dwindling currency reserves.
Mr Dvorkovich told investors on Thursday the budget deficit would be fixed at 6.1 per cent of gross domestic product or more, and insisted the budget would continue to play a role in stimulating the economy. While some expenditures would be reduced, social spending would be increased.
got love the "fixed part" followed the "or more". Nothing like a little central planning wiggle room.
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