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Duma committee supports draft law on distribution of additional revenue

Internal borrowing will reduce due to a smaller budget deficit in 2012

MOSCOW, May 14 (Itar-Tass) —— Additional budget appropriations in the amount of 135.6 billion roubles will be used for providing social services to certain categories of people (43.4 billion roubles), raising salaries (15.6 billion roubles), using information technologies (11.5 billion roubles), upgrading, retooling and overhauling (21.4 billion roubles), making contributions to international organisations and hosting international events (9.3 billion roubles), making investments (15 billion roubles), and other budget expenditures (19.4 billion roubles), including for covering the exchange rate difference due to the projected growth of the U.S. dollar’s exchange value from 28.7 to 29.2 roubles.

The draft law also lowers the ceiling for the state internal debt by 868.8 billion roubles as of January 1, 2013 to 5,462.1 billion roubles due to recalculation of the state internal debt based on its actual size as of January 1, 2012 and due to the reduction of state rouble-denominated guarantees in 2012.

Internal borrowing will reduce due to a smaller budget deficit in 2012.

At the same time, the ceiling for the state foreign debt will increase by 8.1 billion roubles (7.3 billion euros) to 56.5 billion U.S. dollars (41.9 billion euros) due to recalculation of the state internal debt based on its actual size as of January 1, 2012 and due to a larger amount of state guarantees in foreign currency in 2012.

According to an updated version of the socio-economic development forecast, GDP in 2012 will be 60.59 trillion roubles (up 3.4 percent instead of 3.7 percent).

The law on the budget sets his indicator at 58.683 trillion roubles.

The price of the Urals blend is expected to be 115 U.S. dollars per barrel instead of 100 U.S. dollars per barrel; the average annual exchange rate of the U.S. dollar is projected at 29.2 roubles instead of 28.7 billion roubles.

The payroll fund should grow from 14.472 trillion roubles to14.75 trillion roubles.

Projections for the consumer price index and inflation have not changed and remain at 6 percent.

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