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Russia’s parliament to debate 2015 budget based on effect of western sanctions

November 14, 2014, 12:31 UTC+3 MOSCOW
The 2015 budget draft is based on the projected GDP of $16.79 trillion and inflation at 5.5%
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© TASS/Sergei Fadeichev

MOSCOW, November 14. /TASS/. The Russian parliament will discuss in the final reading on Friday the draft federal budget for the next three years that takes into account Crimea’s incorporation into Russia, declining world oil prices and possible effects of western sanctions.

The 2015 budget draft is based on the projected GDP of $16.79 trillion and inflation at 5.5% The budget plan envisages GDP at $1.8 trillion and inflation at 4.5% in 2016 and at $1.95 trillion and 4% in 2017.

Under the budget draft, the government will be able to draw down $10.84 billion from the Reserve Fund next year to make up for a shortfall of revenues and government borrowings.

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