Russian President Vladimir Putin on Thursday read a budget statement for the 2014-2016 Period in front of government authorities and the Moscow Kremlin. The 2014-2016 budget statement is an important part of the state budget round-up, long term and short term strategic direction. The Russian leader stressed that the budget policy is primarily concerned with “a radical increase in its efficiency, unconditional adherence to all our social obligations, maintained economic growth”. Putin said that the budget policy towards 2030 needs to be improved within 3 months in terms of transparency and publicity for citizens and considered it as a way to improve the efficiency of national investment. He said that the government needs to acknowledge that social spending needs to be balanced by economic growth.