Advertisement

THE WEEK AHEAD

MOSCOW : Russian Budget Battle

March 22, 1994

Russia's Parliament begins debate Wednesday on the government's proposed 1994 budget in what is expected to be a long and fractious session.

Despite belt-tightening that cut subsidies to most industries, President Boris N. Yeltsin's draft budget forecasts a massive deficit--over $36 billion, or 10% of Russia's gross national product.

The Parliament will face heavy pressure from Russia's cash-strapped industrial managers and regional leaders to restore the government subsidies on which Russian industry has long been dependent.

The hardest lobbying may well come from the military, which received only $22 billion in the draft budget--less than half of what the defense department requested.

Advertisement
Los Angeles Times Articles
|
|
|