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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Rob Shilling who wrote (432)	8/13/1998 6:31:00 PM
From: Rob Shilling	Read Replies (1) of 1301

Except from Russia Today: The prime minister vowed to pursue tough fiscal policies aimed at restoring order to chaotic state finances which have triggered an investor flight amid fears of a ruble devaluation and debt default. Kiriyenko said the situation had been far more serious in July, when the ruble was last hit by devaluation rumors, adding that central bank reserves were higher now than at the time of the last crisis. State spending was this month matching receipts, Interfax cited him as saying. "For the first 10 days of August we are ahead (of target) on tax collection," said Kiriyenko, Itar-Tass news agency reported. Note what looks like to be good news on tax revenues.

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