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Russia not to raise taxes until 2018: PM

Xinhua, March 29, 2016 Adjust font size:

Russian Prime Minister Dmitry Medvedev said on Monday that the government won't raise taxes in the current economic situation.

"We believe that we can manage the current financial situation without raising the tax system," the prime minister said, pointing to the existence of reserves in the current system and the need to ensure its stability.

He also noted that today the government is committed to the principle of tax stability, but it doesn't mean it will last forever, Russian news agency TASS reported.

"It's exact that in several years we will have new realities, and I hope that the crisis will be over, so we will have to take other effective decisions," Medvedev added.

Since 2014, the Russian economy has been facing economic difficulties due to the Western sanctions against Russia and the drop in oil prices. Endi