Renault budget to increase says Briatore

(GMM) Renault's F1 budget will not be affected detrimentally by the current global financial crisis, team boss Flavio Briatore insists.

It is impossible to escape mainstream media reports about the struggling economy, and Renault's chief executive Carlos Ghosn is a renowned cost-cutter.

So with the French carmaker already operating with a F1 budget reportedly smaller than that of its manufacturer rivals, fears have been raised that the current situation could spell trouble for the Enstone-based outfit.

But Briatore is quoted as saying by the Spanish sports newspaper Marca: "Our president has given his full support for the team.

"It is a very difficult moment for all companies, but he did not hesitate for one minute in increasing our budget by 30 or 40 per cent," the Italian added.