Regions need 200 bln rubles to balance budgets - Vladimir Putin

Russian President Vladimir Putin has suggested that 200 billion rubles be allocated to regions to balance their budgets.

"I've already spoken of the need for further financial support for the regions. Their revenues have fallen for various reasons, yet there is a heavy burden on the regional level, where a big effort is under way to support the economy and our citizens, and the Russian Federation's constituent members must have the necessary resources," Putin said at a meeting with Cabinet ministers.

"So I am suggesting that 200 billion rubles be allocated to ensure the sustainability of and to balance regional budgets," he said.

The regions "must have the opportunity to use this money flexibly, to finance their own regional measures to support employment and economic activity, to issue benefits and salaries to public sector workers, and to resolve the most pressing tasks and help people," he said.