March 28, 2016 / 12:58 PM / in 2 years

Russian PM Medvedev says no plan to raise taxes before 2018: reports

MOSCOW (Reuters) - Russian Prime Minister Dmitry Medvedev said on Monday that the government had no plans to raise taxes before 2018, Russian news agencies reported.

Russian Prime Minister Dmitry Medvedev speaks during an interview on the sidelines of the Munich Security Conference in Munich, Germany, February 13, 2016. REUTERS/Dmitry Astakhov/Sputnik/Pool

“Despite the fact that we understand that now there is a very uneasy economic situation... It was decided... that till 2018... we won’t take decisions to increase the tax burden,” Medvedev was quoted as saying by RIA news agency.

As state revenues have fallen sharply due to low oil prices and western sanctions, Russia postponed last year a previously agreed change in oil taxation regime, which it hoped would allow the budget secure around 200 billion roubles ($3 billion) in 2016.

Reporting by Katya Golubkova; editing by Vladimir Soldatkin

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