By RIA Novosti
Moscow : Russia is to introduce a 10-year financial planning system beginning in 2008.
"We are just setting the task to switch to an experimental mode of a 10-year financial planning from next year," Finance Minister, Alexei Kudrin, said Tuesday.
Russia's parliament is currently examining a draft law which replaces an annual budget plan with a three-year budget to cover 2008-10, a move designed to streamline the country's finances and expenditures.
The three-year budget is seen as a transition to a longer-term financial planning.
The bill echoes budget guidelines President Vladimir Putin outlined earlier this year to properly manage hydrocarbon revenues, ensure sustainable growth by diversifying the economy and reducing dependence on energy exports, cut taxes and improve living standards.