Vladimir Putin's introductory remarks:

Good afternoon,

At a Government meeting in two weeks, we will have to approve a draft federal budget for 2010-2012, and submit it to Parliament. Therefore, today we must sum up the intermediary results of the work on this vital document, and accommodate positions wherever necessary.

In the last few months, we have registered positive signs both from world markets and from the domestic economy. Starting in June, industrial production has grown by about 1% per month. Prices on our export commodities are also standing at a high enough, acceptable level.

As you know, the Ministry of Economic Development has decided to improve the forecast for the country's social and economic development for next year. We would like to hear its view on this issue in more detail.

Gradual economic recovery and the overcoming of the recession will allow us to specify major budget parameters. Among other things, we would have a basis to expect higher revenues than we had planned previously.

At the same time, I would like to emphasize that the 2010 budget still remains strained. The positive signs, which I have just mentioned, are still rather tentative and vague.

Therefore, we should not forget the goals we must reach, notably, to maintain macroeconomic stability, keep the deficit at an acceptable level, reduce borrowing and preserve our reserves. We must pursue responsible social and economic policy. The Finance Ministry has drafted the appropriate proposals. Please, report them today.

In addition, before we submit the draft budget to the State Duma, we must hold additional consultations. I asked the deputy prime ministers to review the budget with the heads of the regions and federal districts. They have done this, and we must take into account the proposals made there in the final version of the draft law on the budget.

Let's start working.