MOSCOW : Russian Budget Battle
Russia’s Parliament begins debate Wednesday on the government’s proposed 1994 budget in what is expected to be a long and fractious session.
Despite belt-tightening that cut subsidies to most industries, President Boris N. Yeltsin’s draft budget forecasts a massive deficit--over $36 billion, or 10% of Russia’s gross national product.
The Parliament will face heavy pressure from Russia’s cash-strapped industrial managers and regional leaders to restore the government subsidies on which Russian industry has long been dependent.
The hardest lobbying may well come from the military, which received only $22 billion in the draft budget--less than half of what the defense department requested.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
