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Federation Council adopts federal budget for 2013 and the planned 2014–2015 period

November 28, 2012, 11:52 UTC+3
The 2013 forecast of inflation makes up 5.5 percent
1 pages in this article
Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, November 28 (Itar-Tass) — Russia’s Federation Council has approved the federal budget for 2013 and the planned 2014–2015 period.

Senators unanimously voted for the document.

The federal budget will be submitted to the president for signature.

In 2013 the federal budget’s revenues will total 12.8659 trillion roubles (one U.S. dollar is equal to 30.9 roubles), spending – 13.3873 trillion roubles and deficit – 521.4 billion roubles.

In 2014 these figures will respectively stand at 14.0634 trillion roubles, 14.207 trillion roubles and 143.6 billion roubles and in 2015 – at 15.6155 trillion roubles, 15.626 trillion roubles and 10.8 billion roubles.

The 2013 forecast of the GDP makes up 66.515 trillion roubles, of inflation – 5.5 percent and the dollar rate – 32.4 roubles. In 2014 the GDP will reach 73.993 trillion roubles, the inflation rate – 5 percent and the dollar rate – 33 roubles. In 2015 these figures will reach respectively 82.937 trillion roubles, 5 percent and 33.7 roubles.

The base oil price for several years calculated by the budget rule was taken into account for the first time while the government was drafting the federal budget. The adoption of the budget rule helps to reduce risks of the budget and its dependence on oil and gas.

In 2013 the Reserve Fund will amount to 3.1738 trillion roubles and the National Welfare Fund – to 2.7698 trillion roubles.

The government set an internal debt ceiling of 6.6005 trillion roubles as of January 1, 2014.

An external debt ceiling is set at 66.2 billion dollars in 2013, 75.8 billion dollars in 2014 and 83.8 billion dollars in 2015.

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