The agenda concerned the formation and implementation of the Union State budget.
The budget was one of the principal instruments of bilateral integration, so its effective formation was of great importance to make the budget meet current and future goals, Mr Putin said. In connection with this, it was essential to specify budget indices for 2004.
The effectiveness of implementing the programme of coordinated foreign policies was also discussed. Mr Putin said that, though certain achievements had been made, many opportunities and reserves remained unused.
President Putin and President Lukashenko had an informal discussion about the prospects for introducing a common currency and the drafting of the Constitutional Act of the Union State after the council meeting.