Transcript of the beginning of the meeting:

Vladimir Putin: Good evening. I would like to hear your report on tax collection, a key indicator of economic health. How are you doing in this sphere?

Mikhail Mishustin: Tax collection to the federal budget grew 29% in January-September. In other words, the growth trend of the first quarter persisted. The growth of the consolidated budget (the federal, regional and local budgets taken together) was 24%. The growth rate has not slowed down, which points to a continued economic revival. I am also glad to report that debts have been going down for the first time since 2008. Debts attributable to the revenues administered by the Taxation Service decreased by 23 billion roubles in the last six months. In other words, we are confident that we will fulfil the tax collection plan and that the trend will persist also next year.

Vladimir Putin: How fast are you reducing debts?

Mikhail Mishustin: Debts decreased by 20 billion roubles in the second quarter and by 3 billion roubles in the third quarter. In addition, the adopted laws stipulate cutting debts estimated at more than 200 billion roubles, including debts of legal entities that ceased to exist.

Vladimir Putin: How is it done?

Mikhail Mishustin: Firstly, we will write off debts under tax arrears that cannot be collected. Relevant bylaws have been approved, as the finance minister has reported to you.

Vladimir Putin: So, you are removing the debris?

Mikhail Mishustin: Exactly. These are bad debts.

Vladimir Putin: Good.