Russian Economy Minister comments on tax burden

The volume of the tax burden and state exemptions from the Russian economy amounts to 40 percent of the GDP, Russian Economy Minister German Gref reported at the conference "Currency Regulation: the Scenario of the Reform" today. He pointed out that this often was "an unbearable burden for a business". Additionally, according to Gref, administrative expenditures reach about 10 percent of the GDP.

As for the bill on currency regulation, Gref reported that as of today, it was coordinated with ministries and departments. According to the Minister, the bill envisages a considerable liberalization of currency regulation, though come restrictions will be preserved till 2007.