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. Last Updated: 07/27/2016

State Mulls Measures to Boost Economy

Russia's new government can revive the economy if it implements a series of concrete measures within 100 days, RIA news agency quoted First Deputy Prime Minister Boris Nemtsov as saying Wednesday.

He said a plan consisting of about 60 points had been discussed with Prime Minister Sergei Kiriyenko that focused on paying wages and pension arrears.

Nemtsov said other priorities included rational use of budget money and an effective industrial policy.

The proposed measures included cutting tariffs for the services of the so-called natural monopolies -- mostly utilities and transport.

The plan also called for lowering of taxes on industrial enterprises, privatizing state property and investing state funds more efficiently.

Nemtsov said the writing off of mutual debts between enterprises and payments in kind would be banned in a bid to resolve the acute nonpayments crisis.