Public Spending 'Not a Problem' in Russia: Economist

Monday, 5 Mar 2012 | 1:50 AM ET

The "promises which Putin gave before the elections... are already budgeted," Evgeny Gavrilenkov, chief economist at Troika, told CNBC's Beccy Meehan in Moscow. "I expect that going forward, expenditures will keep rising by around 10 percent; which is ok for the economy," he said.