• Short Summary

    The Soviet Union's deputy-premier Mr. Nikolai Baibakov replaced Prime Minister Mr. Alexei Kosygin as the?

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    The Soviet Union's deputy-premier Mr. Nikolai Baibakov replaced Prime Minister Mr. Alexei Kosygin as the speaker reporting on the new five year economic when the Supreme Soviet (parliament) opened a three day summit in Moscow on Wednesday (27 October). The five year plan includes a cut in defence spending for next year, which was announced by Finance Minister Mr. Vladimir Garbusov.

    SYNOPSIS: The Supreme Soviet met for its mid-year session at the Kremlin. During the next three days the new five-year plan will be presented in major portions. The plan was first published in guideline form last December, by the Soviet Union's Communist Party Central Committee.

    The official re-convening procedure were carried out and voted through in the presence of the politburo, which included General Secretary Leonid Brezhnev, President Podgorny and Premier Alexei Kosygin.

    According to reports from Reuter, the 72-year-old Mr. Kosygin was widely expected to present the five year plan, but MR. Baibakov was the speaker. He said that the next five years promised great economic opportunities. He said 620,000 million roubles (470,000 million sterling) is to be invested in the national economy. Both steel and oil production figures are expected to increase greatly.

    Mr. Kosygin and Mr. Brezhnev compared noted during the speech. They had Mr. Baibakov say that large sums would be allocated to housing, the health service, education and culture. Mr. Brezhnev led the applause at the conclusion f the speech.

    Fiance Minister, Mr. Vladimir Garbusov detailed the cut in defence spending for next year. He said the military allocation would be 17,200 million roubles. (137,600 sterling) -- a drop of 200 million roubles (160 million sterling) on the 1976 figure.

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    Reuters - Source to be Verified
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