26 Nov 2014 19:02

Budget spending cut proposals to be drafted by March 2015

MOSCOW. Nov 26 (Interfax) - Proposals on possible federal budget spending cuts if the economic situation worsens will be drafted by March 2015, Maxim Oreshkin, the head of the Finance Ministry's long-term strategic planning department, said.

"Works is underway. By the spring, by March, a package of possible changes will be ready and they will be discussed with lawmakers. These are changes that might be made to the budget when it is revised next year," he said on the television channel Rossiya 24.

The government has set up a commission led by First Deputy Prime Minister Igor Shuvalov to take a detailed look at government programs and "look for areas that can be optimized without threatening the end result."