Financial crisis contained, budget revised

Russian First Deputy Prime Minister Anatoly Chubais announced, in Dec 1997, that government action had contained the national financial crisis of the previous two months. However, President Boris Yeltsin is taking measures to reduce state expenditure. These measures include the implementation of stricter rules on use of state air transportation by government officials, and a demand for draft legislation to implement budget cutbacks. The State Duma is considering budget changes, including a 13% rise in petroleum excise taxation.