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Draft federal budget of 2012-2014 has 10,870 pages in it

September 30, 2011, 18:47 UTC+3
The federal government and the Central Bank aim to cut the inflation to 5-6% in 2012, 4.5-5.5% in 2013, and 4-5% in 2014
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MOSCOW, September 30 (Itar-Tass) —— The draft federal budget of 2012-2014 has 10,870 pages in it, a source at the State Duma office told Itar-Tass on Friday.

“The Budget and Tax Committee will do colossal work in October and November to prepare the budgetary bills for house meetings,” Committee Chairman Yuri Vasilyev said. In addition to the draft budget, the government has presented ten bills, which must be approved in the same period, he said.

“The Committee proposes to hold the first reading of the budgetary bills on October 21, the second reading on November 18 and the third reading on November 22. We are also due to adopt a number of tax laws, which are necessary for collecting budgetary revenues. The autumnal session will be very busy for our Committee,” he said.

The budget 2012 has the following macroeconomic parameters: 11.78 trillion rubles in revenues and 12.65 trillion rubles in spending. Budgetary revenues will amount to 12.71 trillion rubles in 2013 and 14.1 trillion rubles in 2014; while budgetary expenditures will stand at 13.71 trillion rubles in 2013 and 14.57 trillion rubles in 2014.

The draft budget 2012 is based on the Urals oil price of $100 per barrel, GDP growth of 3.7%, and GDP of 58.68 trillion rubles.

The draft budget 2013 is based on the Urals oil price of $97 per barrel, GDP growth of 4% and GDP of 64.8 trillion rubles.

The draft budget 2014 is based on the Urals oil price of $101 per barrel, GDP growth of 4.6% and GDP of 72.49 trillion rubles.

The federal government and the Central Bank aim to cut the inflation to 5-6% in 2012, 4.5-5.5% in 2013, and 4-5% in 2014.

The budget deficit will amount to 1.5% GDP in 2012, 1.6% in 2013 and 0.7% in 2014.

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