Reuters: US Dollar Report: UPDATE 1-No room to hike spending - Russian Finance Minister

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-No room to hike spending - Russian Finance Minister May 15th 2013, 10:14 Wed May 15, 2013 6:14am EDT MOSCOW May 15 (Reuters) - Russia's government has no room to raise spending, Finance Minister Anton Siluanov said on Wednesday, stoking a debate over whether fiscal stimulus should be deployed to revive flagging economic growth. Siluanov, who has championed Russia's new 'fiscal rule' to curb spending and borrowing, spoke just hours before talks with President Vladimir Putin on possible measures to boost growth after it slowed to 1 percent in the first quarter. A split over how to tackle flagging growth has widened in Putin's government, with the Economy Ministry pressing for more stimulus to stop the country from sliding into recession - something that seemed impossible just a year ago. "We see risks in the economy," Siluanov told reporters. "It would be premature to say that there are additional (spending) possibilities this year ... and in 2014-15." When Putin returned to the presidency last May, he called for a "new economy", including increased investment and a shake up in state-run industries. Instead, Russia's $2.1 trillion economy is close to stagnating. Economy Minister Andrei Belousov said earlier he would present his plan to stimulate growth to Putin later on Wednesday, including putting the central bank in charge of growth rather than just monitoring inflation levels. The central bank, which is under pressure to cut rates, holds a meeting later on Wednesday when it is expected to hold rates due to higher inflation. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions