Putin Speaks of the Purposes of the Stabilization Fund

Answering in the course of Tuesday's TV conference a question on the possibility of using the Stabilization Fund for financing social reforms, Vladimir Putin emphasized that the Fund would not be specifically used for the reforms.

According to the President, the purpose of the Stabilization Fund is to maintain the country's macroeconomic showing and hold down the prices and inflation against the background of economic growth and rising well-being of the population. It is due to the fulfillment of these conditions that social reforms would be possible

Speaking of the necessity to prevent any misappropriation of the Fund, V. Putin emphasized that that remained one of the main concerns. The President, who called this problem "a different kettle of fish", noted that in the matter of controlling the funds he relied on local deputies and communities.