State and business should keep to moderately conservative approach amid growth in market budget revenues - Putin

MOSCOW. March 26 (Interfax) - The state and business must resist the temptation to spend market budget revenues and keep to a moderately conservative approach, including in the fiscal system, Russian President Vladimir Putin said.

"Now, as the prices of our traditional export products are growing, but the markets are in a feverish state, the temptation may arise to take advantage of the situation, take market revenues and, so to say, 'eat them up', spend them on dividends, or, in terms of the state itself, inflate budget expenditure," he said at the Russian Association of Industrialists and Entrepreneurs (RSPP) conference.

"I have already said somewhere in public, and I want to repeat it again for this audience, that we need to stay rational. The markets have swung in one direction today, but they could go in the opposite direction tomorrow," the president said.

A moderate conservatism and a moderately conservative approach is needed both in the corporate sphere and in state finances, Putin said.

"And we will definitely adhere to it in the fiscal system, fulfilling our obligations to the citizens of our country," he said.