Russia says debt reduction should be priority for G20 nationsDecember 3, 2012 - 21:27 AMT PanARMENIAN.Net - The world’s developed nations should not abandon their budget consolidation and debt reduction plans, Russian Finance Minister Anton Siluanov said on Monday, Dec 3, according to RIA Novosti. “The majority of developed countries with a high level of debt recognize the need to have debt reduction programs,” he said at a news conference at RIA Novosti devoted to Russia’s G20 presidency, which started Dec 1. “It is obvious to everyone that without debt cuts there can be no economic growth,” he said, referring to G20 discussions over which should get the priority - budget consolidation or economic growth. “The main trend for heavily indebted countries is to implement debt reduction programs; only after that can a course be set for the restoration of economic growth.” Whether the heads of state are able to implement such programs is a contentious political issue, Siluanov added. Russian G20 Sherpa Ksenia Yudaeva said debt reduction should not oppose stimulus of economic growth. “In pursuing a debt and budget deficit reduction policy there is an array of options to choose from that can either hold back growth or have the least negative impact on it,” she said. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. |