Russian Premier Confirms His Support for Tax Reform

The tax reform will help boost Russia's economic growth by 0.5-1% of GDP, said Russian Prime Minister Mikhail Kasyanov.

When addressing Wednesday's Cabinet meeting, which discussed a draft tax reform, the Premier said the reform-envisaged measures would allow to relieve the economy's tax burden by 1.8 to 2% of GDP within the next two years.

This is crucial for speeding up the country's economic development pace, noted Mr Kasyanov. A lower tax burden would allow the processing industry to accumulate investments and ensure a brisker development pace, said the premier.

The tax reform is a serious politico-economic decision, according to him. "Such decisions are difficult to take and require thorough calculations and a weighed-out approach," he said.