Finance Ministry Repays Salary Arrears

The Russian Finance Ministry allocated RUR700m (about $22.31m) for aiding regions to repay salary arrears, Russian Finance Minister Alexey Kudrin reported. According to the Minister, he signed a corresponding decree this week. Additionally, its was decided to allot RUR500m (about $15.93m) to Russian regions for agricultural activities.

Kudrin pointed out that in February 2003, salary arrears to Russian state employees had increased "to a certain extent" to RUR1.7bn (about $54.17m). At the same time, the Minister pointed out that there federal budget had no salary arrears; all these were arrears of regional budgets.