The Finance Ministry has proposed sweeping amendments to the Federal budget

Photo: Artyom Korotayev / TASS

Budget revenues in 2017 will be at 1.1 trillion rubles more than planned, and the cost of this increase to 315 billion rubles, follows from the draft of amendments of the Ministry of Finance in the budget law. The deficit in this case will amount to 2.1% of GDP instead of 3.2% as planned

The Finance Ministry has proposed sweeping amendments to the Federal budget this year due to higher oil prices, government revenues will amount to 14.6 trillion and not 13.5 trillion, as stated in the current law on the budget and Federal spending, the Agency proposes to increase to 315 billion roubles, to 16.56 trillion. In this case the budget deficit by the end of 2017 will amount to 2.1% of projected GDP — 1.1 percentage points, or 829 billion rubles less than planned.

Of the proposed 315 billion RUB of additional expenses 129 billion rubles increase in closed (secret) part, it follows from the annexes to the bill. For example, it is proposed to increase by 25 billion rubles to 194 billion rubles, the maximum amount of “individual subsidies for legal entities and individual interbudgetary transfers” regions, provided in accordance with a secret Appendix.

In the open part of the budget is proposed to increase appropriations for 185,7 billion rubles, including an additional $ 51.7 billion RUB. on section “national economy”, including 9.4 billion rubles for the program of space exploration and 9.7 billion on road facilities (road funds). Section “national security and law enforcement” will receive an additional 25 billion rubles., of which 7.9 billion rubles will go to the penitentiary system, 6.5 billion — the bodies of internal Affairs.

In the section “Social policy” it is proposed to add to the already planned allocations RUB 12.2 billion, most of which (11.3 billion rubles) will be spent on pensions to military servicemen, law enforcement officers and their families.

Five views on the budget system of Russia

 

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