Putin orders new budget rules to boost Russia's growth

Russian President Vladimir Putin on Tuesday ordered the government to draw up new budget rules by the end of July to boost growth and help protect the economy from a serious downturn.

"Work has already started on the federal budget for the next three years. A fundamental issue here is the construction of budget rules that not only ensure the stability of public finances, but also contribute to increasing the growth rate of the Russian economy," Putin said in a televised meeting.