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Acting Finance Minister Siluanov to present draft budget to State Duma

September 30, 2011, 20:21 UTC+3
The budget deficit will amount to 1.5% GDP in 2012, 1.6% in 2013 and 0.7% in 2014
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MOSCOW, September 30 (Itar-Tass) —— Acting Finance Minister Anton Siluanov will present the draft federal budget of 2012-2014 to the State Duma.

“Acting Finance Minister Anton Siluanov will be the government agent,” Government Representative to the State Duma Andrei Loginov said on Friday.

“The fulfillment of every social commitment is the main priority of this budget,” Budget and Tax Committee Chairman Yuri Vasilyev said. “The second main area is economic modernization and investment projects, which are vital for the fulfillment of social commitments. The third area is national security and modernization of the Armed Forces.”

In contrast to the previous year, electricity and public utility charges will grow on July 1 instead of January 1. “Electricity charges will increase by 15%, while gas charges will grow by 6%,” Vasilyev said.

“At the same time, railroad tariffs will grow on January 1 due to bigger investments and modernization of the rolling stock,” he said.

“More than 550 billion rubles are assigned for healthcare. Most of the money will be spent on salaries of doctors and nurses, acquisition of new medical equipment, prevention and therapy of cancer and cardio-vascular diseases and general modernization of healthcare institutions,” he said.

“About 170 billion rubles will be assigned for the real sector, primarily the car industry, aircraft and machine building and transport security,” he said.

“The Budget and Tax Committee will do colossal work in October and November to prepare the budgetary bills for house meetings,” 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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