Monday, April 25, 2011

Overtaxing counterproductive – Putin

@The Voice of Russia

Hiking taxes is counterproductive and must be replaced with more business-friendly strategies to raise revenue.

Prime Minister Putin told this to officials at a joint board meeting of the Economics and the Finance Ministries in Moscow Monday.

He expected extra oil revenue this year to reduce the national deficit to within 1.5 percent. He also looked forward to a time when the treasury amasses reserves again.

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